Even with globalization, location still matters in economic competition. But it is more important than ever for communities to offer distinctive advantages. Here are three examples of development strategies. Stockholm shows how to succeed in the Knowledge Economy: It serves as a base for major companies and tech universities, it subsidizes broadband, and it offers a vibrant urban environment that lures young talent. Orlando has diversified its economy by nurturing a new industrial cluster: digital media. Singapore thrives by persuading multinationals to use it as a base for R&D and as regional headquarters, and even anticipates companies' needs five years out.
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