The European Commission recently released a report indicating ways to support regional growth strategies for areas that are lagging behind in growth and prosperity.

The report targets the factors that support or hinder the competitiveness of regions that haven't met expected levels of growth and income, according to an announcement from the commission. It also details investment needs for these regions, such as innovation, accessibility and quality of educational institutions.

"For each obstacle to development, there is a cohesion policy answer," Regional Policy Commissioner Corina Creţu said in the announcement. "Tailor-made regional development strategies, combined with preconditions for successful investment, can make these regions attractive places for residents, workers and businesses. This is what we do: we help regions identify their needs and their competitive assets and we provide them with the tools for better-policy making."

The report listed 47 regions in eight member states that qualify as low-growth or low-income areas. It also suggested potential solutions to bring the regions up to par with others that fare better, such as offering better vocational training more connectivity between rural and urban areas or attracting young talent to businesses