Encouraging and supporting new business creation has enjoyed renewed popularity in recent years as an economic development strategy at the local and regional levels. After decades of “smokestack chasing” and, increasingly, office-park-chasing, leaders at all levels of government have realized that homegrown development through new businesses is better than lavishing tax incentives on existing companies. Some call this “economic gardening,” while others have called attention to “startup communities” and “entrepreneurial ecosystems.” Call it what you will – it is clear that entrepreneurship is the key to stronger local and regional economies.
For most policymakers, during the recession and recovery their attention has understandably focused on the contribution of entrepreneurs in terms of how many jobs they can create. With unemployment high, wages stagnant and large corporations sitting on mounting piles of cash, the answer to the question of where new jobs will come from is increasingly, “entrepreneurs.”
To read the original article: With Strong Community Support, Startups Create More Than Jobs - Forbes
