Charleston has eye on clusters in development
By T&D Staff Sunday, June 12, 2005Business, education and community leaders from throughout the three-county Charleston region gathered recently to hear recommendations for a cluster-based economic development strategy.
The recommendations were presented by AngelouEconomics, an Austin-based economic development consulting firm commissioned by the Charleston Regional Development Alliance in August 2004.
The event was open to the public and took place at the Charleston Area Convention Center in North Charleston.
For the past nine months, AngelouEconomics has worked closely with Charleston area leaders to craft an economic development strategy focused on building high-value business clusters.
More than 750 individuals from the region participated in surveys, focus groups and interviews with the project team.
This primary research was combined with an analysis of the region's demographics, work force skills, existing industries and business assets to identify five target industry sectors that match the region's strengths and future vision.
Angelou recommended the Charleston region focus on building cluster strength in the following industries: biosciences, aircraft, automotive, advanced security and the creative industries.
Within each of these broad industry categories, the firm has identified specific niche sectors for highly focused economic development efforts.
Each of these targets and their associated niches are supported by a variety of functions and activities, including research and development, logistics and distribution, manufacturing, software and information technology, and back office operations.
The report also offers specific recommendations aimed at increasing the Charleston region's potential for growing businesses within the five target sectors.
Recommendations fall into five categories: work force development and education, entrepreneurship, sites and infrastructure, community development and marketing.
Complete recommendations, as well as an economic scan of the Charleston region, can be found at the project Web site, www.forwardcharleston.com.
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