Innovation Economics, LLC

Description

Economic planners periodically assess the most important industries in order to ensure that policy priorities are aligned with the realities and needs of the area’s economy. Industry targeting allows community leaders to focus their programs on specific industries or sectors. This permits clearer identification of specific industry requirements, and enables communities to provide fewer but more highly valued and effective measures to encourage the industry selected. Determining which regional industries are important can be challenging, since the definition of “important” is not always agreed upon by regional stakeholders. Providing hard data is a necessary component of this planning process.

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