Replicating Sector Clusters to Grow the Economy

By August 28, 2018 Business

Many of the concepts, issues and practices in this discussion from the Oregon Office of Economic Analysis can apply to us here in Blaine County. Here are few excerpts:

“As with many thriving clusters that began with a start-up company or two, part of the magic is a combination of happenstance and intentional efforts by the original founders to work on a product in a location they wanted to live in.”

“We will start with the issues and barriers to growth. At the top of everybody’s list was housing; not just affordability, but also availability as inventory and vacancies are low. Housing is part of these businesses’ recruitment efforts. They have had employees accept jobs and then leave because they were unable to find suitable housing. Similarly, finding work for spouses and partners can be more challenging in a smaller region than in a large metro.”

“From our office’s vantage point, and most of advisors as well, it is less about the specific industry and more about the foundation upon which the success was built. Having a good workforce, infrastructure, planning, and taxing system in place, in addition to being able to provide information and contacts for firms looking for assistance is critical. These pieces of the foundation are the natural fit for the role of the public sector. It is really hard to pick winners and losers, but providing the platform from which any type of business can succeed is the goal.”

Do read the whole thing. https://oregoneconomicanalysis.com/2018/08/21/gorge-discussions-pt-2-tech/

Dave

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