Hi-tech innovation

Innovation and hi-tech strategies

for urban and rural development

(email)

A Cluster Industry Development Strategy is a focal point of many economic development programs because it builds on the strengths of a region’s economy and creates a framework for targeting economic development activities for the most impact.

The basis for a cluster approach to economic development is understanding the concentrations of related firms in a geographic area that do business/compete with each other or share inputs e.g. same type of workforce, research, education, technology etc.

The 2010 Kauffman Survey of Economic Bloggers (above) shows that 'Human capital' and 'Innovation' are rated as the top policy tools by economic thought leaders across the political spectrum. Smaller cities and more rural regions can no longer primarily compete based on tax incentives, available land and roads, semi-skilled labor and expensive marketing. Instead, leaders in many communities, both small and large, are focusing on their region’s capacity to support innovative firms, learning institutions, and human capital.

Download: Marketing High-tech Industry in Rural Regions: South Wiltshire Example

Download: Guidebook for Conducting Regional Innovation Assessments

Economic developers have a key role in shaping a business 'eco-system' that attracts and supports innovative people and companies. Whether urban or regional clusters in rural areas, we focus your resources toward creating an innoative economy. Some tools:

Clusters/sub-clusters mapping
Strategic Technology Clusters Alliances
Partnerships with Universities
Fostering Partnerships - Business Networks
Utilizing Technology Resources
Preparing a Technology Strategy
Technology Marketing
Transferring Innovation to the Marketplace
Research Parks and Incubator Programs
Financing for Technology Businesses
Educational and training issues
Benchmarking the competitiveness
Industry & Small Business Innovation Plans
Download the Innovation Planning Toolkit

South Metro Competitiveness Report
Client: Southeast Business Partnership

The Southeast Business Partnership commissioned IE to gather strategic information about local clusters, their relative growth and competitiveness compared to other peer metropolitan areas. The study analyzed an area described as South Metro Denver (SMD) and comprised:

- A distinctive economic data set and profile of the South Metro Denver business base for better understanding the market, local trends and competitive position relative to peer locations; and for communicating a stronger sense of identity as a premier business location.

- Tracking medium to long-term changes in the South Metro economy, including business base, employment, growing and declining sectors, large, mid and small company performance, establishments by type, occupational and wage trends.

- Benchmarking indicators of competitiveness and dynamic growth compared to a selected number of competitor cities in order to communicate the distinctive advantages and assets of South Metro Denver.

- Visually representing South Metro Denver economic data in new ways, including mapping and graphs to better communicate local competitive advantage and industry clusters on the SEBP website and other promotional literature.

For a more detailed exploration of industry clusters and how they work in city-regions please download the following articles:

Your Economic Development Partner

for Information, Analytics & Outreach