Irrespective of a community’s or region’s size and historic economic and social composition, there are diverse paths that are being found for economic renewal in similarly situated older industrial and transitioning communities. These paths for new prosperity must be built on whatever local assets and identity the community has to work with, and be locally owned, operated, and managed. This policy proposal details how national leaders and extraregional actors can catalyze and support communities and regions in developed industrialized countries—sharing a similar arc of development, that now struggle economically—with a flexible family of investment resources and capacity building support to aid them in creating and managing their own new economic success path and strategy.