[1] EDOs are typically government agencies, public-private partnerships, or non-governmental organizations (NGOs) working together with other actors to improve the regional economy they focus on (be it internal or external).
The practitioners have two key roles: one is to provide leadership in policy-making, and the other is to administer policy, programs, and projects.
These economic development organizations function as individual entities and in some cases as departments of local governments.
They may include the news media, foundations, utilities, schools, health care providers, faith-based organizations, and colleges, universities, and other education or research institutions.
As quasi-public entities, the leadership of economic development organizations often oversee large and complicated financial transactions without having the requisite skill level or oversight from competent third parties.