A new report from the Brookings Metropolitan Policy Program argues that initiatives to support and grow industry clusters remain a potentially powerful strategy to jumpstart local economic growth, but only if certain market and civic fundamentals are in place.
The report, Rethinking cluster initiatives, by Ryan Donahue, Brookings fellow Joseph Parilla, and Brookings nonresident senior fellow Brad McDearman, takes a fresh look at the concept of industry clusters—groups of firms that gain a competitive advantage through local proximity and interdependence—and offers practical guidance for metropolitan leaders considering investments in cluster initiatives, drawing on five in-depth case studies.
The Central Indiana Corporate Partnership (CICP) is cited as a successful model and national case study.
Full report can be viewed at: https://www.brookings.edu/research/rethinking-cluster-initiatives/
