Home > Economic Development, Federal, Government, Innovation Clusters > How Regional Innovation Clusters Can Foster the Next Economy

How Regional Innovation Clusters Can Foster the Next Economy

The New “Cluster Moment” report just released by the Brookings Institute revisits regional innovation clusters (RICs) as a framework to restructure the nation’s economic development programs:

“Twenty years after Harvard Business School professor Michael Porter introduced the concept to the policy community and 10 years after its wide state adoption, clusters—geographic concentrations of interconnected firms and supporting or coordinating organizations—have reemerged as a key tool and rubric in Washington and in the nation’s economic regions.”

Key points:

  • Clusters and cluster approaches hold out substantial attractions as the nation seeks to rebuild a damaged economy.
  • When it comes to policymaking leaders at all levels should adhere to a set of core general principles when pursuing cluster-based economic development strategies.
  • While keeping these principles in mind, all tiers of the nation’s federalist system have roles to play in advancing the co-development a new cluster-informed stance in U.S. economic policy.

Report’s Press Release [read more]
Read full report [pdf]

Related reports from Brookings Institute

  • The Business Case for Regional Innovation Clusters [more]
  • Clusters and Competitiveness: A New Federal Role for Stimulating Regional Economies [more]
  • How Governors Can Help Foster Economic Growth [more]
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