For several years there has been growing consensus among economic developers about the importance of the creative economy, and many organizations have sprung up to examine and promote its concepts. In Canada, for example, the Creative City Network of Canada (www.creativecity.ca) offers many kinds of resources to municipal staff and the recent annual conference of the Economic Developers Council of Ontario (www.edco.on.ca) was built on the theme of “Defining and Capturing the New Economy,” with Rebecca Ryan, founder of Next Generation Consulting, as the keynote speaker.
In the US, preparations are under way as this is written for the third annual Creative Cities Summit to be held April 7-9 in Lexington, KY. Another thought-leadership organization, the Seattle-based International Regions Benchmarking Consortium http://www.internationalregions.org, released a report in December 2009 confirming that the springboard for economic growth these days is talent, not industrial resources or infrastructure.
The report, A Tale of 10 Cities: Attracting and Retaining Talent, lays out the typical growth pattern in the creative economy: “A region begins by attracting capable people though existing employers, its university system and an attractive local lifestyle. A growing talent pool then attracts new employers who seek a skilled workforce. This growth in knowledge-based industries, in turn, attracts even more well-educated and skilled people, and so on.
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Author: Yfactor
