Decorah, Iowa (pop. 8,172 in 2000), is, in many ways, a typical small Midwestern community facing many of the same issues as most other areas such as a brain drain and a continuing struggle to find ways to stimulate the local economy. Perhaps the strengths and successes of the approaches used in Decorah can be attributed to its ability to identify community assets and marshal those competitive advantages into successful community and economic development activities. This report describes ways in which Decorah approached creating a local economic development strategy that builds on the unique features of the region. A description of the planning, construction, and funding details of Decorah's projects that routinely draw positive reactions from visitors can help other communities generate ideas that can be nurtured into widely accepted and productive projects. Many local leaders know the procedural steps involved in undertaking and successfully completing such selected projects. The greater strategic challenge lies in the ability to identify what a community can offer current and prospective residents or potential visitors and then to use a broad-based community vision to draw in other resources and implement an overall strategy.