Here is the link to an article written by members of our own CED program about homegrown economic development. The article explains that homegrown revitalization strategies fall into three broad categories, which are summarized in the article as follows:
Place-based development incorporates strategies that capitalize on the distinctive and special characteristics of a particular place, such as its natural resources, cultural heritage, or other amenities.
Economic gardening relies on “growing your own” by cultivating local entrepreneurs and small firms and creating and environment that supports their growth.
Creativity and talent cultivation involves fostering an environment that supports individuals and firms who use art or design in their products and services.