This article examines elite interaction and its potential to affect local development. A theoretical discussion sets the stage for a systematic exploration of the social capital of regional elites in a comparative study of 12 European Union regions. The working assumption is that elite social capital and trust between elite groups reflect on the regional development record. A survey of experts captures a number of proxy variables on elite social capital. In a cross-sectional study we observe an association between levels of gross domestic product and the propensity of elites to act in concert. Associations are also evident between concerted action and similarity in attitudes between regional elite actors.