economic development
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economic development
The entirety of government or municipal measures aimed at supporting the economic development of a region, attracting businesses, and creating jobs.
Die Stadt hat ein neues Programm zur Wirtschaftsförderung für junge Start-ups aufgelegt.
The city has launched a new economic development program for young start-ups.
This long word is made up of three parts: 'Wirtschaft' (economy), the linking -s, and 'Förderung' (support/promotion). So it literally means the promotion or support of the economy.
Die regionale Wirtschaftsförderung hilft kleinen Betrieben.
Regional economic development helps small businesses.
'Wirtschaftsförderung' (economic development) is a term from politics, administration, and business. You often find it in official documents, news reports, and on the websites of cities and municipalities.
Der Bürgermeister betonte die Bedeutung der Wirtschaftsförderung für die Stadtentwicklung.
The mayor emphasized the importance of economic development for urban development.
Common expressions are 'Maßnahmen zur Wirtschaftsförderung' (economic development measures) or 'ein Programm zur Wirtschaftsförderung auflegen' (to launch an economic development program). Companies can 'profitieren' (benefit) from 'Wirtschaftsförderung' or 'beantragen' (apply for) it.
Die Regierung hat neue Maßnahmen zur Wirtschaftsförderung beschlossen.
The government has approved new economic development measures.
economic policy
'die Wirtschaftspolitik' (economic policy) and 'die Wirtschaftsförderung' (economic development) both have to do with government measures for the economy. 'Wirtschaftspolitik' is the broader term: it means government decisions and rules for the whole economy, for example taxes, prices, or the labor market. 'Wirtschaftsförderung' is more concrete and local: it is meant to support companies, strengthen a region, or create new jobs. The words can be confused because both deal with politics and the economy. As a guide: 'Wirtschaftspolitik' describes the general direction, while 'Wirtschaftsförderung' describes practical support for companies or regions.
Die Stadt nutzt die Wirtschaftsförderung, um junge Firmen in die Region zu holen.
The city uses economic development measures to bring young companies to the region.
Nach der Wahl diskutieren viele über die neue Wirtschaftspolitik der Regierung.
After the election, many people discuss the government's new economic policy.