The attraction of employment, higher income, capital investment, and continued economic growth to raise the standards of living drive communities to build a competitive advantage. Communities around the world are building, or rebuilding, to the new-knowledge economy with various tag-line creations: innovation communities, smart communities, entrepreneurial communities, and so on. These communities recognize the economic shift of business: Local economies rely on new development of competitive products for a global market that places great value on intellectual capital. Much of today's business focuses on smaller, fast-growth companies, built on new technology from intellectual expertise around the world.
Research communities know that today's high-growth industries value innovation, creativity, speed, and flexibility. Preparing for this important catalyst of change leads communities to examine and evaluate economic advantages and disadvantages along with shaping a pathway to get things done. Many communities are creating and developing incubators and research parks to create microeconomies that ...
