Knowledge Hubs, Innovation Precincts, Technology Parks, Employment Centres - Much More than Real Estate Projects
In an article in "Economic Development" magazine, Andrew McDougall and Ellen Witte describe how over recent decades governments have attempted to boost economic development prospects by focusing businesses and sometimes supporting institutions, like education and research centres, in well defined geographic precincts. The rationale is robust, with evidence of benefits derived through co-location clearly established.
However, for these benefits to eventuate, the effort directed towards building ‘soft' infrastructure needs to match that directed towards land and ‘hard' infrastructure design and development. One without the other doesn't work. A long term commitment from development stakeholders underpins success.
Read the full article first published in 'Economic Development' Spring 2010