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Harvard professor: Stop incentivizing out-of-state companies and build up Idaho ones

"People recognize clusters are good things because they help build networks, but clusters are also hard on businesses," Ketels said at his talk April 5. "They force companies to compete for talent and to move quickly to innovate before someone else with a similar idea jumps into their growing market."

Innovation, wages and employment growth can be found in industry clusters around the United States. Idaho needs to work on its clusters, Christian Ketels, principal associate at Harvard Business School, told Idaho industry and economic development leaders at an Idaho Technology Council event.

An industry cluster is a group of companies from the same field in close proximity to each other. One example is the social media cluster in Silicon Valley where Facebook, Twitter, Linkedin and Instagram all have headquarters. A smaller cluster is the food processing industry in Idaho’s Magic Valley.

By: Benton Alexander Smith

Full Story: http://idahobusinessreview.com/2017/04/21/harvard-professor-stop-incentivizing-out-of-state-companies-and-build-up-idaho-ones/

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