Many communities across the OECD struggle to keep pace with structural economic shifts, as evidenced by persistent geographic disparities in jobs, skills and economic opportunity. Factors such as innovation capacity, economic diversification, human capital, and connectivity matter, but traditional economic models still leave much of the variance in local performance unexplained. Likewise, standard policy approaches to place transformation often fall short, failing to adequately address underlying structural barriers or integrate economic and social outcomes effectively.
Place transformation is about more than just boosting productivity and growth in “left behind” places. Holistic transformation considers both economic and social outcomes, by improving its economic future, the quality of life, and opportunities for all residents, leveraging a broad range of local assets. This calls for adopting a broader perspective in identifying drivers of local development – for example considering the role of local “soft infrastructure” like leadership, social capital and place identity.
Through a series of seminars, the OECD gathered policymakers, practitioners and academics from different disciplines to take stock of current evidence on the role of “soft infrastructure” in driving socio-economic transformation. The seminar series is part of the OECD’s Transforming Places project, funded by UK Research and Innovation (UKRI). The Transforming Places project aims to develop new international evidence on how to catalyse economic and social transformation in struggling communities.
