Clustering Still Key for Industries

Location, location, location - despite the growing sense that industries can be located anywhere in the internet age, evidence supports the opposite conclusion: that clustering alike businesses together works:

"Sixty percent of the respondents to Area Development's 2010 Corporate Survey said the presence of activities similar to theirs was a consideration when selecting a site. More recently, a 2011 Brookings Institution report showed that 'strong clusters foster innovation through dense knowledge flows and spillovers; strengthen entrepreneurship by boosting new enterprise formation and start-up survival; enhance productivity, income levels, and employment growth in industries; and positively influence regional economic performance.'"