Regions often compete with each other to attract companies, talent and investment to spur economic growth and job creation. While this approach is often successful, regions should also focus on growing their own companies and industry clusters, too. Why? Because regions will most likely have a better chance of yielding greater results over the long term. And, these days regions need to be focused on sustainable strategies that produce tangible economic benefits.
But how do you accomplish this? Where do you begin?
Industry clusters can serve as a basis for regional growth. They are often geographically bound, with interconnected businesses, suppliers and service providers all working together. The cluster concept has been validated by early thought leaders including Harvard Business School Professor Michael Porter and well-respected organizations like the Brookings Institution and Council on Competitiveness.
To read the full, original article click on this link: Growing Industries from the Bottom Up - Forbes
