South Carolina has a long way to go Tuesday, October 08, 2002 The Palmetto Institute in South Carolina issued a major report on the state's economy today. Completed by DRI-WEFA the report makes the following points. First, the state needs to align its educatin system more closely to economic development strategy, particularly the development of clusters. (This is not an earth-shaking recommendation...most regions and states need to take this step. The tough issue is how do you take a set of institutions remarkably resistent to change and convert them into effective catalysts for growth.) Second, the report concludes that the state cannot compete on the basis of its current industry mix. It should focus on developing clusters that offer higher productivity and higher incomes. The report recommends tourism, transportation services, professional services, components and sub-assemblies. (This is a list drawn from existing economic data, and, as such, it does not reflect possibilities. For example, the real challenge for South Carolina in tourism is whether this base can be leveraged into something more, such as digital media. At the same time, these lists are rarely "actionable". What does it mean to develop the "professional services cluster"? What, specifically, is there to do? Finally, these lists are rarely complete. What, for example, should happen to South Carolina's medical devices cluster? Or its plastics cluster? Or its processed food cluster? Or its post secondary education and knowledge creation cluster? In dealing with clusters at a state level, a far better approach is to break the state up into metro areas and look at clusters within each regional economy. Connecticut has taken this approach.) The purpose of the report is to provide the Palmetto Institute with the economic research needed to formulate a strategy. That's the next step, but it is unclear when or how this strategy will emerge. At this stage, without something more, it is one more report for the shelf. Read more. Go posted by Ed Morrison |		This work is licensed under a Creative Commons License. links Some Background on EDPro Weblog The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it. One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information. So, spread the word...Share the knowledge. Tell a friend about EDPro Weblog. If you are using a news reader, here is the link to syndicate this site: Here's the link if you are a bloglines subscriber: Speaking and workshops on Open Source Economic Development As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking. Background on Ed Morrison Download some background information on me here.

The Web EDPro Weblog