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“This paper deals with the pivotal role played by community development corporations (CDCs) in local economic initiatives from the bottom-up. These non-profit organizations are challenging the top-down approach of political decision making, mobilizing community assets, connecting inside and outside resources, synthesizing visions, expertise and methods from private, public and community sectors. In doing so, they are demonstrating the relevance of non-profit organizations and institutions in fostering social capital and promoting collective action across different sectors and actors. To illustrate these arguments, this paper has reported two case studies of local economic development initiatives in North America that are centered on two CDCs. The positive effects and critical points of CDCs have been addressed.”