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industrial policy

Let’s stop reinventing the wheel in Local and Regional Economic Development in the UK

Let’s stop reinventing the wheel in Local and Regional Economic Development in the UK

๐—˜๐˜ƒ๐—ฒ๐—ฟ๐˜† ๐—ณ๐—ฒ๐˜„ ๐˜†๐—ฒ๐—ฎ๐—ฟ๐˜€ ๐˜„๐—ฒ ๐—ฟ๐—ฒ๐—ถ๐—ป๐˜ƒ๐—ฒ๐—ป๐˜ ๐—น๐—ผ๐—ฐ๐—ฎ๐—น ๐—ฎ๐—ป๐—ฑ ๐—ฟ๐—ฒ๐—ด๐—ถ๐—ผ๐—ป๐—ฎ๐—น ๐—ฒ๐—ฐ๐—ผ๐—ป๐—ผ๐—บ๐—ถ๐—ฐ ๐—ฝ๐—ผ๐—น๐—ถ๐—ฐ๐˜†. ๐—œ ๐˜„๐—ผ๐˜‚๐—น๐—ฑ๐—ป'๐˜ ๐—ฐ๐—ฎ๐—น๐—น ๐—ถ๐˜ ๐—ฟ๐—ฒ๐—ถ๐—ป๐˜ƒ๐—ฒ๐—ป๐˜๐—ถ๐—ป๐—ด ๐˜๐—ต๐—ฒ ๐˜„๐—ต๐—ฒ๐—ฒ๐—น - ๐—บ๐—ผ๐—ฟ๐—ฒ ๐—น๐—ถ๐—ธ๐—ฒ ๐—ฟ๐—ฒ๐—ฝ๐—น๐—ฎ๐—ฐ๐—ถ๐—ป๐—ด ๐—ฟ๐—ผ๐˜‚๐—ป๐—ฑ ๐˜„๐—ต๐—ฒ๐—ฒ๐—น๐˜€ ๐˜„๐—ถ๐˜๐—ต ๐˜€๐—พ๐˜‚๐—ฎ๐—ฟ๐—ฒ ๐—ผ๐—ป๐—ฒ๐˜€ The reinvention is not really the problem. The problem is that we set fire to everything we knew about wheels....

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๐—œ๐—ป๐—ฑ๐˜‚๐˜€๐˜๐—ฟ๐—ถ๐—ฎ๐—น ๐—ฐ๐—น๐˜‚๐˜€๐˜๐—ฒ๐—ฟ๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—ถ๐—บ๐—ฝ๐—ผ๐—ฟ๐˜๐—ฎ๐—ป๐˜ โ€“ ๐—ต๐—ฒ๐—ฟ๐—ฒโ€™๐˜€ ๐Ÿฑ ๐˜๐—ถ๐—ฝ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐˜€๐˜‚๐—ฐ๐—ฐ๐—ฒ๐˜€๐˜€๐—ณ๐˜‚๐—น ๐—ฑ๐—ฒ๐—น๐—ถ๐˜ƒ๐—ฒ๐—ฟ๐˜† ๐—ฏ๐˜† ๐—ฒ๐—ฐ๐—ผ๐—ป๐—ผ๐—บ๐—ถ๐—ฐ ๐—ฑ๐—ฒ๐˜ƒ๐—ฒ๐—น๐—ผ๐—ฝ๐—บ๐—ฒ๐—ป๐˜ ๐˜๐—ฒ๐—ฎ๐—บ๐˜€

The evidence is clear: successful industrial clusters generate genuine competitive advantages. Firms in Oxfordshireโ€™s Motorsport Valley are 6x more productive than isolated competitors. Research Triangle Park transformed North Carolina from textile dependence into a ยฃ17 billion innovation economy. Denmarkโ€™s professionalised clusters consistently outperform regions without them. Yet cluster initiatives can sometimes fail to deliver. Why? [โ€ฆ]

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