Module 3 'Formulating the LED Strategy' introduces participants to the stages of preparing an LED strategy based on the local economy assessment. As a key element of formulating an integrated LED strategy, the module considers the relationships between the local economy assessment and the development of a Vision, Goals, Objectives and Programs. The module guides participants through the sequential steps of defining an LED vision, setting LED goals and objectives, and selecting appropriate programs for implementation.

Module 3 demonstrates to participants the practice of setting clear LED objectives that relate to vision, goals and critical issues. It allows participants to understand the relationship between objectives in developing a strategic plan and the criteria for making choices. Participants consider LED project identification, analysis and prioritization as a means of realizing strategy aims, and learn how to use objective criteria to select LED projects that best achieve the goals they have defined. In considering key LED program areas, participants learn to define and identify programs appropriate to their community's needs, select and prioritize projects, and identify sources of LED project finance.

The module concludes with a series of planning for implementation tasks including defining a vision statement, objectives, goals, programs, and undertaking a preliminary selection of projects. Participants are tasked with identifying methods of including and consulting LED stakeholders, and establishing criteria for selecting and prioritizing LED objectives, goals, programs and projects.

Module 3 Learning Objectives: