Regional Economies
The
core of Mt. Auburn’s work over the last 25 years has been
to develop strategies that help to build sustainable and
strong regional economies. In addition to the strategic
planning work, the firm has developed a methodology for
identifying regional clusters, has designed strategies to
strengthen these clusters, and has helped to organize and
guide regional cluster organizations.The firm has also been involved in designing and evaluating state and regional innovation strategies.
Economic Clusters
Mt. Auburn has integrated cluster analysis and development
into all of its regional and local economic development
planning efforts for over 25 years. This work has provided
us with expertise in a wide range of "clusters" - from such
emerging industries as environmental technology, bioscience,
advanced materials, telecommunications, software, fiber
optics, and factory automation and robotics, to traditional
industries such as food processing, tourism, furniture,
and metalworking.Our approach couples analysis of national and regional trends in markets and technology with in-depth assessment of the local cluster’s competitive strengths and weaknesses, including analysis of market position, local business environment, and availability of key local resources including capital, physical infrastructure, workforce, and research capacity. This forms the basis for developing detailed strategies for cluster retention and growth.
Here are some of the distinguishing characteristics of our approach to cluster analysis:
- We recognize that data are critical but only tell part of the story. We place an emphasis on primary research to give us the most accurate information about the strengths, weaknesses, and challenges of any given economic cluster.
- We help clients identify the clusters that provide a unique advantage to the region. Identifying and nurturing clusters requires a deep understanding of the local economic base and what drives it, since clusters can defy conventional industry definitions.
- We are experts in understanding how workforce sector strategies and economic cluster strategies intersect.
Innovation Strategy
Economic innovation – the process of transforming ideas
into new or better products and services – is a sure path
to increased productivity, higher incomes, and sustained
economic growth. At the local and regional levels, the key
to accelerating the pace of innovation lies in tapping the
knowledge base of local academic and research institutions
through partnerships with local industry. Mt. Auburn helps
clients to develop and structure mechanisms to promote local
technology transfer and commercialization and to create
a more innovative and entrepreneurial environment.