More and more in recent years, cities are stressing the arts as a means to greater economic development and investing millions of dollars in cultural activities, despite strained municipal budgets and fading federal support.
(A) to greater economic development and investing
(B) to greater development economically and investing
(C) of greater economic development and invest
(D) of greater development economically and invest
(E) for greater economic development and the investment of

Dream Weaver wrote:

More and more in recent years, cities are stressing the arts as a means to greater economic development and investing millions of dollars in cultural activities, despite strained municipal budgets and fading federal support.
(A) to greater economic development and investing
(B) to greater development economically and investing
(C) of greater economic development and invest
(D) of greater development economically and invest
(E) for greater economic development and the investment of

This is a simple case of parallelism. "Stressing" and "Investing".

With this, A is the best possible choice.