In the past two years, many states seeking to move from economic crisis to recovery have updated their economic development strategies and launched new development initiatives. Those states have generally focused on the building blocks of their economies— entrepreneurs and innovation, workforce, investment climate, support for businesses in expanding their markets, and a stronger connection between universities and the state’s economy. Just as importantly, they have focused on blending those elements together to increase their state’s rate of economic growth and provide their state’s citizens with more and better paying jobs.
Six important trends have emerged as governors have updated economic development strategies and intro- duced new initiatives in the past two years:
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