This book identifies the strong potential of the local development approach to help regenerate the economies and societies of less developed regions and to bring greater local participation in the decision-making and actions that underpin restructuring. It is important that the local development policies put into place respond to emerging challenges and take into account innovations and lessons from elsewhere. This book reviews some of these challenges, innovations and lessons. It provides some practical examples (Ballyhoura in Ireland, Serra do Caldierao in Portugal and Jerez in Spain) that will help local actors to make informed decisions on the policy strategies, structures and actions to apply in their own areas.