This case study investigates the impact of Learning for Life (LFL) project, a Community Learning Network (CLN) project funded by the Office of Learning Technologies, Human Resources Development Canada, on CED in the New Economy. The primary goal of the LFL project was the development of the knowledge, skills and abilities of individuals for community economic development. A major finding of the case study was that public policies and the cultural context (habitus) greatly influenced the impact of the project on CED. The major conclusions of this study are that (a) lifelong learning plays a significant role in CED by bringing new knowledge, skills and abilities of individuals into circulation through social and economic networks and relationships; (b) lifelong learning optimizes the potential of information technology; and (c) lifelong learning is a significant principle and action of CED.