For several years now the Obama administration has actively promoted regional economic cluster initiatives—various growth-driving projects comprising local networks of large and small firms, university researchers, regional economic organizations, investors, and training groups.
So do they work? Do cluster grants and local initiatives really deliver material benefits to individual firms and regional economies? Let’s review the record.
Led by the Economic Development and Small Business administrations, more than 50 pilot projects have been funded around the country. These projects draw inspiration from the strong body of experience and research Bruce Katz and I summarized here; in doing so they seek to convene diverse resources in regions to accelerate growth. For the most part the buzz has been good though few serious evaluations have been available.
To read the original article: Economic Cluster Policy Begins to Work | Brookings Institution
