The CED Group has assembled quality resources to assess a targeted region's current inventory and current state of the long-term assets, along with the region's asset development capability, which create the backbone infrastructure needed to efficiently and effectively support economic activity. This includes such infrastructure as transportation (seaports, highways, airports, railroads), communications (wire line and wireless telecommunications, internet), energy and raw resource development (exploration, mining and production, electric generation, resource and energy transmission and distribution, etc), legal protections and public safety, and critical social infrastructure (schools, universities, hospitals, etc), as well as any other assets (research facilities, finance centers, public and private equity, etc) that can be used in stimulating and supporting economic growth in the targeted region and which can foster technological innovation. The CED Group not only assesses such assets and the capability to develop, maintain, and operate such assets, but also examines access to these assets in order to foster social equity.
Industry Cluster Analysis
Cluster analyses and strategies have become an effective economic development approach for regions seeking to understand and foster an entire region's marketplace competitiveness in order to create and sustain economic growth. An industry cluster is a group of firms, and related economic actors and institutions, that are located in the targeted region, that draw productive advantage from their mutual proximity and connections. The CED Group's Industry Cluster Analysis can help diagnose a region’s economic strengths and challenges and identify realistic ways to shape the region’s economic future. This analysis will identify the existing industry clusters that drive the current economic activities and output of the targeted region and other related clusters that could and should be developed.
This approach will:
Build on the unique strengths of their regions rather than try to be like other regions. Different regions have different sets of economic development opportunities.
Support the region's leadership and policymakers by going beyond analysis and engage in dialogue and strategy development with cluster members. Identifying a cluster’s competitive strengths and needs requires an ongoing dialogue with the firms and other economic actors in the cluster. Recognizing that the public sector cannot be the exclusive driver of cluster policy, the CED Group can play a pivotal role in convening cluster members and working with private-sector cluster organizations.
Develop different strategies for different clusters. Clusters vary from industry to industry and from place to place and operate in many different dimensions. Different clusters have different needs. There is no one set of policies that will make all clusters successful. For example, a technology cluster may require help with research or capital, while a metals industry cluster may require assistance with job training or technology deployment.
Foster an environment that helps new clusters emerge rather than creating a specific cluster from scratch. It is difficult for public policy to create new clusters deliberately. Instead, the CED Group works with leadership and policymakers to promote and maintain the economic conditions that enable new clusters to emerge. Such an environment would support knowledge creation and dissemination, high-expectation entrepreneurship, opportunity identification, new firm formation, and the availability of capital.
Innovation Economy Assessment
Given the rise of innovation-based economic regions all over the world, the relevance, impact, and leverage of a region's innovation activities can have significant ramifications to the targeted region's long-term economic output and growth.
Examples of innovation corridors and regions which leverage significant innovation include:
- semiconductors and information technology in Silicon Valley in California;
- high-technology and life sciences in Research Triangle Park in North Carolina;
- energy companies in Energy Corridor in Houston, Texas;
- financial products and services in New York City;
- biotechnology in Genome Valley in Hyderabad, India and Boston, Massachusetts;
- nanotechnology in Tech Valley, New York (College of Nanoscale Science and Engineering);
- precision engineering in South Yorkshire, United Kingdom;
- petrochemical complexes in Rio de Janeiro, Brazil;
- train locomotive and rolling stock manufacturing in Beijing, China;
- automotive engineering in Baden-Württemberg, Germany; and
- digital media technologies in Digital Media City in Seoul, South Korea.
The CED Group will assess a region's capability in creating new technology and innovation-based IP along with current capability in leveraging this technology and IP in commercial activity. This includes understanding and benchmarking the targeted region's total and per capita research expenditures and the activity areas which are creating tech and IP (patents) and the access to and rate of utilization of the technology and IP. In addition, social equity in access to this technology and IP is examined.