Today’s Economic Development Formula

Posted by Sheila Redick on March 12, 2006

Kip Bergstrom, who runs the Rhode Island Economic Policy Council and is one of the top thinkers in the field, recently compared what cities need to play vs. what cities need to win.

Take a look and see how prepared your city is to win:

Need to Play                                                                Need to Win

Developable sites                                                           Distinctive places

Tax Parity                                                                          Tax Parity

Skilled Workers                                                                Lateral Thinkers

Research Institutions                                                   World-class Research
                                                                                                Teams in Specific Areas

Serial Entrepreneurs                                                     Ubiquitous
                                                                                                Entrepreneurial Culture

Transparent and Efficient Government                 Innovative Government

High Wage Jobs                                                                Networks of Firms with
                                                                                                 Synergistic Capabilities
                                                                                                 that Create Individual
                                                                                                 and Collective Added
                                                                                                 Value