Regional economic development is challenging, in large measure, because we do not elect “regional” officials. Understandably, Governors, Mayors, and other elected officials are first and foremost concerned with their own votes. So why invest time and money in ways that can benefit voters in another state, city, or municipality? Why create and support the Alliance for Regional Development?
One need only look at Silicon Valley, Boston’s Route 128, or the Research Triangle in North Carolina to understand that regional economic clusters exist as innovation-rich geographic clusters. Granted, the examples above are areas all within a single state, but the Chicago Metropolitan Tri-State OECD Review determined that 21 counties in our three-state region ( the Milwaukee – Chicago – northwest Indiana corridor) are functioning as a single economic unit, and that coordinated policies can build and sustain long term prosperity.
Research has demonstrated that innovation clusters generate positive economic results. Innovation and entrepreneurship are critical for long-term economic development. It has been suggested that each tech job created supports three jobs in other sectors of the economy. Yet, the United States does not have a coherent or effective national innovation strategy and the three states in the Alliance have varying degrees of innovation “support” and access to innovation information.
One of the key findings in the Innovation chapter of the OECD Review points out that “the region needs to develop a common understanding of its innovation ecosystem…” Our ecosystem is rich with assets but unknown to so many both in and out of the region.
Stakeholders in Detroit recently launched an interactive website that allows a visitor to select different pathways whether you are someone with an idea, a start-up or an existing business. This tool then provides answers to many questions regarding business location, opportunities, and funding sources. Examples of questions and answers that should be only a click away for those interested in our 21 counties.
The Alliance’s Innovation Working Team needs to hear from you. Political leaders can’t force clusters and the private sector must lead in encouraging cluster formation. Let us know about local resources that can be leveraged and best practices that should be scaled up. If we work together, we can enhance growth prospects and make the Chicago Metropolitan Tri-State region an innovation hub recognized on the national and international stage.
That’s just one reason to support the Alliance!