This book focuses on economic development action taking place within the context of local labour markets. It is concerned with both wealth creation and questions of employment. The five main issues analyzed are: local infrastructure and site provision; capital formation and investment; innovation, entrepreneurship and technological change; human resources; and developing the best institutional context. The book focuses on the economic nature of the development process and partnership - the key actors in economic development working together. It offers an up-to-date account of developments in Britain and Germany, and comparisons between the two countries which show that each has something to learn from the other. The book is aimed at stimulating the policy debate in each country, but it will also be useful as an advanced text in student courses in the economic development of advanced economies. However, to keep the text accessible and readable an attempt has been made to keep references to specialist literature strongly limited. The book does not examine detailed cases of local development issues in the former East Germany. However, throughout the text it integrates British-German comparisons with assessment of how developments will take place in the United Germany. In chapter 12 it assess the needs of the East German situation in more detail.