66B.— (1) Each local authority shall make, in accordance with section 66C and any regulations made, or general policy guidelines issued, by the Minister for the purposes of that section, and the principles of sustainable development, a 6 year local economic and community plan (in this section referred to as the "Plan"), which shall be referred to as the "Local Economic and Community Plan", prefixed by the name of the local authority concerned, and the Plan shall be for—

(a) the promotion of economic development in its functional area, and

(b) the promotion of local and community development in its functional area.

(2) For the purposes of subsection (1), promotion of economic development includes but is not limited to—

(a) creating and sustaining jobs,

(b) promoting the interests of the community, including—

(i) enterprise and economic development across economic sectors,

(ii) foreign direct investment,

(iii) indigenous industry,

(iv) micro-enterprises and small and medium sized enterprises,

(v) tourism, and

(vi) agriculture, forestry and the marine sectors, and other natural resource sectors,

(c) identifying local attributes that are essential—

(i) to enhancing local economic performance, such as the quality of the environment and the qualities of cities, towns and rural areas, including—

(I) accessibility, physical character, and infrastructure,

(II) employment opportunities and quality of life,

and the means by which these may be utilised to enhance competitiveness, and be supported by investment decisions relating to economic infrastructure (including transportation, water services, energy, communications and waste management), together with social and cultural facilities, and

(ii) to promoting local economic activities,

(d) supporting enhancement of local innovation capacity, including investment in research and development capacity, technology transfer, up-skilling and re-skilling,

(e) identifying, for existing and prospective businesses, opportunities to engage with local government on relevant matters in setting up and managing their businesses and to ensure speedy and co-ordinated access and response,

(f) identifying local strengths and opportunities, weaknesses and deficiencies relevant to economic performance and—

(i) in relation to such strengths and opportunities having regard to economic and employment trends, the means of maintaining and augmenting them, and

(ii) in relation to such weaknesses and deficiencies, the means of addressing or rectifying them,

and

(g) identifying economic potential and the requirements to realise it.

(3) For the purposes of subsection (1), promotion of local and community development includes, but is not limited to—

(a) promoting and supporting the interests of local communities, or any part of a community or group within a local community, including measures to enhance quality of life and well-being of communities and measures aimed at—

(i) tackling poverty, disadvantage and social exclusion through support for basic services and other initiatives,

(ii) supporting training and up-skilling, creating and sustaining employment and self-employment opportunities, and investing in local development through community-focused supports and services, and

(iii) the provision of infrastructure and community facilities and investment in physical regeneration and environmental improvements,

(b) supporting the capacity of local communities to improve their quality of life,

(c) supporting social enterprise, social capital, volunteering and active citizenship,

(d) developing integrated and evidenced-based approaches to local service planning and delivery,

(e) identifying the needs and priorities of local communities to enhance their well-being, and developing sustainable solutions that make the best use of local assets, strengths and opportunities to address those needs and priorities,

(f) exploiting and co-ordinating funding sources from the public, private and community and voluntary sectors to stimulate and support local development and sustainability, and

(g) promoting, supporting and facilitating community involvement in policy development and decision-making processes related to the planning, development and delivery of services.

(4) Every Plan made pursuant to subsection (1) shall be consistent with—

(a) the core strategy and the objectives of the development plan (being the development plan for the purposes of Chapter I of Part II of the Act of 2000) of the local authority concerned, and

(b) any regional spatial and economic strategy or, as appropriate, regional planning guidelines (being a strategy or guidelines for the purposes of Chapter III of Part II of the Act of 2000),

that apply to the area of the Plan, and shall consist of a written statement which may include objectives for the sustainable development of the area of the Plan.

(5)(a) Without prejudice to subsections (2) and (3), the Plan to which subsection (1) relates shall include and integrate—

(i) economic elements in respect of local economic development, and

(ii) community elements in respect of local and community development.

(b) Each local authority shall, without prejudice to and, in accordance with section 66C and any regulations made or policy guidelines issued by the Minister for that purpose, draft the economic elements of the Plan.

(c) Each Committee shall, without prejudice to and, in accordance with sections 66C and 128B and any regulations made or policy guidelines issued by the Minister for that purpose, draft, adopt and obtain approval for the community elements of the Plan.]