Industrial development is the building and growing of industries within an economy. These industries include mass production, technological advances, and other services. When an area or economy is industrialized it experiences an increased standard of living, job growth, and more productivity as it sustains growth. As productivity in an area increases, there is so much more opportunity.
The economic growth provided by industrial development is a well-sustained growth that can transform an economy. Industrial growth and economic growth go hand in hand. Economies thrive when an industry is growing because a growth in the industry means more jobs, more money, and more opportunity. Industrial growth is often linked with higher wages The production that industry provides buts more money and more services for the economy leading to higher income per capita and more labor productivity. The standard of living increases when industry increases. These opportunities can transform an area and inspire endless amounts of growth.
