This paper aims to contribute to practice and research by discussing the potential of place-based policies in public goods provision in areas facing long-term population decline. In the paper, it is argued that local governments in shrinking communities ought to develop explicit and transparent local adaptation policies, but that such policies must be embedded in state goals of territorial equality and cohesion. It is also argued that these policy objectives must be integrated with local policy goals of economic sustainability. Four ideal types of place-based interventions are presented - structural interventions, financial interventions, interventions that enable place-based innovation, and interventions that specifically address human capital needs. In the paper, it is concluded that these interventions need to be designed to be mutually reinforcing, even if they are implemented by different actors at different levels of government and pursuing different policy goals. The paper draws on an extensive reading of the international literature on long-term population decline and on field studies conducted in a Swedish, Nordic, and to some extent Northern European context.