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date: 19 February 2020

Abstract and Keywords

For regions seeking to advance economic competitiveness, building appropriate clusters of concentrated economic activity remains an effective strategy, even as traditional “smokestack-chasing” approaches to economic development grow increasingly problematic. Still, cluster approaches face their own challenges in addressing the costs and risks of innovation, producing significant numbers of new jobs in the short term, carrying out credible claim marketing efforts in a data-driven global marketplace, and demonstrating sufficient breadth of benefit from their necessarily focused concentrations of investment and talent. For the past 15 years, Central Indiana has pursued a series of cluster initiatives through an unusual organizational strategy and structure that provides an instructive view of the opportunities and challenges in 21st-century cluster development.

Keywords: cluster strategy, innovation problem, jobs metric, credible claim, benefit gap

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