This paper studies the evolution of enterprises’ strategies for dematerialized economic growth able to respond to ecological and social issues at the local level. It contributes to the debate on possible responses to the ecological, economic, financial, and energy crises by analyzing changes in the strategies of value creation and evaluation by companies and regions. It studies the emergence of a new production and consumption paradigm that could integrate ex ante the positive and negative externalities in the economic process. Thus, the functional economy takes place in a historical dynamics and a new definition of the relationships between the enterprise, the consumer, and the territory. JEL Codes: L22, L53, O33