The Institute of Economic Development (IED) is the UK's leading independent professional body representing economic development and regeneration practitioners working for local and regional communities.Representing You.... Established over 30 years ago, the IED's key objective is to represent the interests of its members and ensure their views are widely expressed and noted. The IED is committed to demonstrating the value of economic development work for local and regional communities; the pursuit of best practice in economic development and the attainment of the highest standards of professional conduct and competence.