Urban Fold

The Economic Benefit of Density

Richard Florida says that the economic benefits of 'agglomeration' are seldom given the attention they deserve. A new study by Florida and the Martin Prosperity Institute aims to do just that.

Florida explains why density is a key factor in innovation and economic growth:

"The dense geographic clustering of economic activities was true of the industrial behemoths of the past - steelmaking in Pittsburgh and automotive production in Detroit. And, despite advances in communications technology, it applies even more so today: from high-tech firms in Silicon Valley to film producers in Los Angeles and recording studios and record labels in Nashville. There's no doubt: The geographic concentration of firms, industries, technologies, people, and other economic assets plays a powerful role in innovation and economic growth."

Florida says that he will release more details of the survey in future articles.

Full Story: The Power of Density

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