The Power of Industry Clusters

A worker inspects the wiring on a Chrysler SUV as it moves along the assembly line at the Jefferson North Assembly Plant in Detroit Michigan. Photograph by Geoff Robins/AFP/Getty Images

Industry “clusters” have been around for a very long time, serving as a catalyst for economic growth. Think: Detroit in the U.S. auto industry’s heyday, Pittsburgh when steelmaking was king, Silicon Valley for tech, Research Triangle Park, Wall Street, and even Hollywood. They are all examples—past or present—of the phenomenon.

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