Economic Development Data & Resources

Connections: The New Holy Grail for Growth

Industry Clusters: The Modern-Day Snake Oil is another great post by Vivek Wadhwa in The Washington Post about how targeting industrial clusters is not the best approach for every region. This holds very true for smaller rural regions that lack the critical mass and hence either follow the approach with no end results or miss on many federal and or state funding programs, as they don’t qualify as a cluster.

An excerpt from the article:

The prerequisite for a regional innovation system is knowledgeable people who have the motivation and ability to start ventures. To succeed, these people need to be connected to one another by information-sharing networks. Basic infrastructure is always needed, but fancy science parks and big industry are just nice to have.

Read the complete post here.

 
 

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