Sunday, June 03, 2007
Washington State is trying to pump up its life sciences initiatives with a new Life Sciences Development Fund Authority. Here's the back story about what is going on in the life sciences in the land of Boeing and Microsoft. Read more.
A couple of years ago, Brookings produced a report arguing, as I recall, that second and third tier regions were going to lose out in the push to the life sciences. I'm not so sure that's the case...Certainly, investments in life sciences are both heavy and risky. The opportunity costs of these investments -- where else could a region focus its investments -- presents a good argument in many cases to place some limit on our commitment to the life sciences.
But consider the markets. My guess is that the market demand for health is as close as we come to a market with limitless demand.
After buying two cars or two televisions or one I-Pod, I'm done. But my demand for products to keep my family and me healthy is not subject to the same limits.
posted by Ed Morrison |
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.
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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.