RETHINKING INDUSTRY CLUSTERS ARE GROUPS OF FIRMS …€¦ · GROUPS OF FIRMS THAT GAIN A...
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WHY THEY MATTER Regional economies grow and decline based on their ability to specialize in high-value industries and evolve them over time. Cluster-based economic development can capture the economic advantages of when firms cluster together in place, but the correct market and civic fundamentals must be present. Clustering occurs through three mechanisms: Sharing tailored facilities, infrastructure and suppliers Matching workers productively through deep labor markets Learning through knowledge-rich environments that facilitate innovation between firms Focused on establishing a robust ecosystem, not quick job gains Industry-driven, university- fueled, government-funded Placing a collective big bet on a unique opportunity Championed by passionate, dedicated leaders Anchored by a physical center TRAITS OF SUCESSFUL CLUSTERS 5 RETHINKING CLUSTERS INDUSTRY CLUSTERS ARE GROUPS OF FIRMS THAT GAIN A COMPETITIVE ADVANTAGE THROUGH LOCAL PROXIMITY AND INTERDEPENDENCE SUPPORTING CLUSTERS Five potential areas of intervention could support clusters: 1. Information and networks 2. Talent development 3. Research and commercialization 4. Infrastructure and placemaking 5. Capital access A national review of cluster initiatives offers critical lessons in how best to organize, launch, and sustain cluster-based economic development: 2. Shared leadership (Unmanned Aerial Systems in Syracuse & Agriculture Technology in St. Louis) 1. Cluster hub (the Water Council in Milwaukee) 3. Holding company (Central Indiana Corporate Partnership) Some regions may find no clusters based on the identification guidelines; others may find too many to realistically intervene at the scale required to make a difference. Factors to determine priorities include: 1. Specialization 2. Composition of firms 3. Development stage 4. Intensity of inter-firm dependence 5. Reliance on complex knowledge 6. Ability to create inclusive employment opportunities PRIORITIZING CLUSTERS Regional leaders cannot create clusters from scratch and therefore must ensure that potential cluster opportunities meet three criteria: IDENTIFYING CLUSTERS Critical mass of firms Geographically proximate Economically interdependent - Product and supply chains - Occupations and skills - Technology and know-how
Transcript of RETHINKING INDUSTRY CLUSTERS ARE GROUPS OF FIRMS …€¦ · GROUPS OF FIRMS THAT GAIN A...
WHY THEY MATTER
Regional economies grow and decline based on their ability to specialize in high-value industriesand evolve them over time. Cluster-based economic development can capture the economic advantagesof when firms cluster together in place, but the correct market and civic fundamentals must be present.Clustering occurs through three mechanisms:
Sharing tailored facilities,infrastructure and suppliers
Matching workers productivelythrough deep labor markets
Learning through knowledge-richenvironments that facilitate innovation
between firms
Focused on establishing a robustecosystem, not quick job gains
Industry-driven, university-fueled, government-funded
Placing a collective big bet ona unique opportunity
Championed by passionate,dedicated leaders
Anchored by a physical center
TRAITS OFSUCESSFUL CLUSTERS5
R E T H I N K I N G
C LU ST E R S
INDUSTRY CLUSTERS AREGROUPS OF FIRMS THAT GAIN A COMPETITIVE ADVANTAGE THROUGH LOCAL PROXIMITY AND INTERDEPENDENCE
SUPPORTING CLUSTERS
Five potential areas of intervention could support clusters:
1. Information and networks
2. Talent development
3. Research and commercialization
4. Infrastructure and placemaking
5. Capital access
A national review of cluster initiatives offers critical lessons in howbest to organize, launch, and sustain cluster-based economicdevelopment:
2. Shared leadership(Unmanned Aerial Systems in Syracuse& Agriculture Technology in St. Louis)
1. Cluster hub(the Water Council in Milwaukee)
3. Holding company(Central Indiana Corporate Partnership)
Some regions may find no clusters based on the identificationguidelines; others may find too many to realistically intervene atthe scale required to make a difference. Factors to determinepriorities include:
1. Specialization
2. Composition of firms
3. Development stage
4. Intensity of inter-firm dependence
5. Reliance on complex knowledge
6. Ability to create inclusive employment opportunities
PRIORITIZING CLUSTERS
Regional leaders cannot create clusters from scratch and therefore must ensure that potential cluster opportunities meet three criteria:
IDENTIFYING CLUSTERS
Critical mass of firms
Geographically proximate
Economically interdependent
- Product and supply chains- Occupations and skills- Technology and know-how
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