“Regional development” has come a long way from the 1970s. Then it resembled aid to the third world: money from Wellington to make work in depressed regions. Now it is smart work, anywhere, which the government “coaches”.
What makes that “regional”, as distinct from national? According to advocates of this revived practice, the distinctiveness of the region. So you don’t have a steel mill or wearable art or gumboot-throwing in every town.