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US: Building Strong Clusters for Strong Urban Economies

Large metropolitan areas in the U.S. generally have strong industry clusters and the role clusters can play to enhance regional competitiveness and economic performance is known for a long time now. However, many cities struggle to accelerate the growth of targeted clusters that they believe will drive future economic prosperity.

JPMC has issued a study in the framework of its Small Business Forward initiative, that is aimed at helping city leaders achieve this goal by providing action-able strategies to support their cluster building efforts. The report is based on cluster theory and practice, and an in-depth analysis of cluster strategies across the U.S. It highlights four case studies:  the San Diego Regional Innovation Cluster, BioSTL in St. Louis, the Chicago Regional Growth Initiative, and ProsperityNOLA in New Orleans. The report also provides six recommendations to help guide city leaders in designing high-impact cluster growth strategies.

Read more here.