In this article, the authors seek to reflect on the evolution of the conceptual framework in the itinerary terminology that goes from local development linked to the business dimension, more than two decades ago, to the complexity of multi-and transdisciplinary approach, which has the local territory still fuzzy silhouette in the center of the scene, as a space of social construction, unfinished, as learning is concerned. While the scenario is global, the article comes from a Latin American reflection process in the framework of ConectaDEL, and rehearse some landings within a table of programs linked to territorial development issues at the top level state in Argentina. In your mind, is to take some distance from the macro dimension, and sail territorial waters, where they intend to emerge the creation of production chains; sectoral environments linked to companies, the competitiveness of the industry and the factors that drive it; the contribution of territorial systemic competitiveness and the role of innovation, expressed in broad sense. The recovery of the endogenous and systemic emerging space, and the contribution thereof to the generation of employment, displayed in their new and necessary ways, in the context of the current global crisis and deep, give space to the authors, to venture briefly on input from Rifkin, J., on the theory of the "third industrial revolution" in progress. Closing the article, with a number of conclusions, with the aim to contribute to further progress in reflection and discussion necessary.