Midtown fosters innovation, innovators
Feb 10, 2015 —
Why are innovation and entrepreneurship critical economic development tools?
Economic development has tended to operate more in the realm of attracting investments and relocations of mature businesses. However, entrepreneurship has become an increasingly important part of the economic growth strategy of many communities, large and small.
While new businesses fill a market gap by supplying existing goods and services to a defined customer base, innovation creates wholly new markets. This leads to greater productivity growth and helps our economy keep pace with the rest of the world.