Community economic development in urban and regional regeneration: unfolding potential or justifiable scepticism?

In this paper I explore the scale of community economic development (CED) a nd the barriers impacting upon its evolution within an English region-Yorks hire and The Humber. CED has been widely perceived by a range of policymake rs as one mechanism through which to moderate the scale of economic decline in more disadvantaged localities. A number of funding sources, and in part icular European Structural Funds, have increasingly allocated resources to creating and sustaining CED projects. But evidence from this region points to a very limited population of community businesses which undertake tradin g activities. Moreover, the sector is bedevilled by a series of constraints including those revolving around finance and partnership working. A number of policy developments could enhance the status and sustainability of CED projects, including a more structured approach towards the funding and oper ation of intermediary agencies. Even then, CED is likely to prove only a ma rginal player in economic reconversion. The scale of market failure in 'CED localities' points to the need for a more interventionist and collective a pproach to regeneration.