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Understanding Regional Economic Growth in the New Economy : Industry Clusters, Summer 2000

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Understanding Regional Economic Growth in the New Economy : Industry Clusters, Summer 2000

DATE: Summer 2000

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This article seeks to explain why industry clusters are receiving so much attention. It discusses how and why clusters form, what makes them successful, and why they are believed to contribute to regional economic growth. The article also examines what the evidence on industry clusters suggests about local economic development, and describes strategies used by communities adopting a cluster approach. The final section outlines New York State's efforts to identify the industry clusters that are important to its economy, as well as the challenges faced in this process.

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Federal Reserve Bank of New York and Federal Reserve Bank of New York. Buffalo Branch. "Understanding Regional Economic Growth in the New Economy : Industry Clusters, Summer 2000," Upstate New York Regional Review (Summer 2000). https://fraser.stlouisfed.org/title/7094/item/638521, accessed on May 15, 2024.

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