In the midst of a difficult economic recovery, it is only natural that we are here today to discuss the best means to restore sustained economic growth and broadly shared prosperity.And we are concentrating on an important strategy. We all know now that regional economies are fundamental—a key ingredient in national economic success.
We know that industries in a cluster register higher employment as well as higher growth of wages, more businesses, and more patents.[1]
Indeed, it is important to remember that clusters help create new sectors, rather than just strengthening old ones.[2] Recently, for example, I talked with a senior executive from a solar-panel company located in Denver. Why Denver? Because his CEO and important technological insights had been transferred from the aeronautics sector located in the same place.
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