Researchers have generally found that entrepreneurs are more optimistic and more confident than non-entrepreneurs. While it may help entrepreneurs persevere in the face of potential business failure, we cannot mistake their confidence for always knowing what to do with their business idea. Entrepreneurs in fact seek out mentors and other useful connections to help them succeed throughout the growth of their businesses, particularly at the start.
This presentation presents an overview of the four key initial strategies that clean tech organizations in Los Angeles are taking to create a world-class cleantech hub in LA, and coordinate the region's efforts, resources, stakeholders, and entrepreneurs around cleantech innovation and commercialization.
We quantify agglomeration spillovers by estimating the impact of the opening of a large new manufacturing plant on the total factor productivity (TFP) of incumbent plants in the same county. Articles in the corporate real estate journal Site Selection reveal the county where the "Million Dollar Plant" ultimately chose to locate (the "winning county"), as well as the one or two runner-up counties (the "losing counties"). The incumbent plants in the losing counties are used as a counterfactual for the TFP of incumbent plants in winning counties in the absence of the plant opening.
This paper outlines elements of a conceptual framework that clarifies the role that clusters play relative to government policies and actions of individual companies in supporting the emergence of "High Road" strategies that lead to better New Growth Path–related outcomes. It then focuses on creating a new set of data that can start shedding light on the empirical relevance of this framework. The first main section of the paper draws on a new set of employment and wage data across European clusters.
The best way to create more jobs in a state is to grow them at home, rather than poach them from elsewhere: Some 95 percent of all job gains in a year in an average state come from the expansion of existing businesses or the birth of new establishments. However, the usual recipe of tax credits, R&D, training programs, and physical infrastructure is not sufficient, by itself, to spur such “organic” job creation. States also need to cultivate their industry clusters—geographic concentrations of interconnected firms and supporting organizations.
I spent the last five years working in Washington as a member of the President’s Cabinet and as the SBA Administrator. Every week I travelled across the U.S. visiting small businesses—businesses that made everything, from high-end jeans to high-tech medical devices to tomato sauce. And wherever I went, I encountered an economic anxiety. First, because of the recession, small businesses were just wondering, “Am I going to survive?” And today, despite all the progress we’ve made in the recovery, the anxiety continues.
This document contains the response of the U.S. Cluster Mapping research team to the Commercialization RFI (Request For Information) published by the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) in 2013. It focuses on the Cluster Development category of the RFI by addressing the key elements of clusters that enhance regional competitiveness, the role of governments in evaluating and supporting clusters, and areas of future research in regards to emerging clusters and future growth industries.
This study by the State and Local Policy Program at the University of Minnesota's Humphrey School of Public Affairs profiles the 12 largest industry clusters located in Minneapolis-St. Paul (MSP) and presents economic findings and recommendations for the region. Aside from evaluating established clusters, it also highlights emerging clusters of interest in Minneapolis-St. Paul, such as robotics, water technology, 3D printing, and biorenewables. Data was gathered using the tools available on the U.S. Cluster Mapping website.
This Policy and Impact Study by the Humphrey School of Public Affairs, State and Local Policy Program at the University of Minnesota is the second in a series of four developed as part of the U.S. Cluster Mapping Project, an effort supported by the U.S. Economic Development Administration. The report illustrates how Minneapolis-St. Paul (MSP) has benefited from applying a cluster approach as a conceptual framework for diagnosing the regional economy and as a platform for joint action to address the challenges identified. The cluster framework provided public and private regional leaders with a common language for understanding regional competitiveness, significantly enhancing the effectiveness of their dialogue. By organizing the policy discussion around clusters, the programs that were developed became targeted enough to have an effect on the issues that mattered for MSP. The cluster-based approach was first applied in workforce development, but over time has been used in other policy areas as well, including in the creation of a broader regional economic development strategy.
Current economic realities have provided governors with a unique opportunity to assess their economic landscapes and change their approaches to economic development. This white paper and accompanying issue brief by the National Governors Association (NGA) focus on what states are doing—and what they can do—to make their economic development agencies more effective.