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Picking a Winner? Evidence from the Non-Manufacturing High-Tech Industry in the Blacksburg MSA

Authors
Disciplines
  • Design
  • Economics

Abstract

Regional scientists have developed numerous concepts and measures of economic diversity and diversification, primarily motivated by the desire to establish a relationship between diversity and economic performance. Rather than striving for a unified theory with a singular measure, this paper argues that economic developers should employ a multi-dimensional framework that combines the comparative advantages of a range of theoretical approaches. The application of locational, agglomerational and risk-reward measures to the non-manufacturing high-tech industry for the Blacksburg MSA in southwestern Virginia reveals specific policy implications and offers lessons for economic policy design.

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