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"local economic development" is a correct and usable phrase in written English.
It is often used in the context of economic policy initiatives and initiatives to promote local growth. For example: The government has introduced a new local economic development package to encourage businesses to invest in the area.
Exact(58)
Meanwhile, Florida economic developers might worry whether they'll lose call center jobs — a linchpin of local economic development — to India.
These plans are intended to help Waipu to develop its unique characteristics, improve local landscapes, and promote local economic development.
This should include those outside the labour market, and be married to local economic development plans.
Acorn believes that low-income communities deserve a voice in local economic development decisions.
Milford Bateman is a freelance consultant on local economic development in Opatija, Croatia.
At each stop, Mr. Pataki stressed the local economic development grants his administration has given.
Local economic development officials liked Mr. Gunderson's approach, but the structure proved unwieldy.
The sales tax receipts are put into a fund that finances local economic development programs.
But state and local economic development officials said in interviews that they had recently shifted strategies.
Indeed, supporting local economic development is one reason that angels often cite for their interest in this type of investing.
They may be significant property owners, particularly in the town centre, and will also be leading on local economic development.
More suggestions(16)
domestic economic development
community economic development
local business development
grassroots economic development
local economic revolution
local economic impact
local economic engine
local economic competition
local economic performance
local economic policy
local economic cushion
local economic model
local economic activity
local economic revitalisation
local economic boom
local economic radar
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com