Clustering Still Key for Industries

Hal Johnson argues that the idea that it can be beneficial to a city or region to inspire the growth of industry clusters is still an effective way to go, and creating a sense of place to inspire clustering is essential.

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.'"

Full Story: Industry Clusters: Importance of Place still Relevant to Business Success
Tags: 

Comments

Prepare for the AICP Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $199
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $14.95 a month

Wear your city with style!

100% silk scarves feature detailed city maps. Choose from six cities with red or blue trim.
$55.00
Book cover of the Guide to Graduate Planning Programs 2012

Thinking about Grad School?

You need the essential resource for prospective planning students
Starting at $24.95