Resources

Details

Title: The economic transition of Mauritius: report on JEC task force - [World Wide Web]

Notes: This document, presented at the National Innovation Summit ""Sustaining America`s Prosperity"" 5-6 April 2001, identifies the new ideas and strategies for regional economic development as well as the factors that enable their success. Clusters are geographic concentrations where the right conditions and resources can be leveraged to produce high-value products and services that support higher wages, thus creating new wealth. Clusters consist of competing and associated institutions such as universities, trade associations, government institutions and other organization that provide training, education, information, research and / or technical support. Clusters succeed because they facilitate access to information, specialized skills and business support and also because they are able to innovate more rapidly. A growing body of evidence suggests that regions with strong clusters not only have higher rates of innovation, but also higher productivity growth, new business formation and wages. Economic success will be determined by building up the local strengths that foster productive investment not on attracting investment through large tax incentives. The realities of globalization mean that future U.S. competitiveness will hinge not just on policies and investments at the national level, but also on the capacity of state and local government, organizations and businesses to foster clusters of innovation. This concept represents a new way of thinking about the economy and signifies new roles for companies, academic institutions, and state and local governments.

>> More