This note provides guidance on how toensure that an agricultural investment generates positiveimpacts on the local economy by encouraging and supportingopportunities arising for individuals, farmers, businesses,and institutions. Investments can have a transformativeimpact on the communities where they are located. Much ofthis impact can be long term, and go beyond the immediateactivities of the investors, through economic linkages andspillover effects. Positive impacts on the local economy arenot automatic: the policies and practices of the investorand the government influence outcomes. Careful managementand choice of agricultural investments, and provision ofcomplementary initiatives by investors and by governments,can maximize the benefits arising from economic linkages andspillovers while minimizing the risks.