THE BLOOMBERG EXAMPLE by Douglas Woodward

”Clusters should be central to any competitiveness agenda. . .

The cluster approach represents the organizing principle for thinking about the drivers of economic progress and organizing economic development efforts. . .

‘national prosperity is created, not inherited,’ which contrasts with comparative advantage theory in which resource endowments underlie regional and country competitiveness. . .

regional competitiveness is propelled by firm competitiveness and that firm competitiveness in turn requires an innovative milieu to thrive. Emphasis should be on the importance of cultivating innovative capacity The best way to raise productivity and

innovative capacity is through local clusters. . .

When clusters take hold, they continually enhance firm competitiveness, allowing the regional economic base to survive in the face of globalization and technical change. These groups of firms may extend beyond a single industry, yet they are held together in varying degrees of mutual interest and geographic proximity.”