- “Low-Cost” is not a development strategy. “Value-add” is a development strategy.
- Regionalism, high-level policy coordination and accountability in resource allocation are critical.
- Entrepreneurship and human capital development strategies are key because of the innovation deficits that characterize the South.
Scorecard Findings – Advanced Manufacturing, Innovation and Prosperity
Wednesday, September 25, 2013on
Things are moving in the right direction in the Upstate of South Carolina. Two weeks ago, the Greenville Chamber released its 6th annual Regional Economic Scorecard, our attempt to provide a focus and set of metrics by which the community can gauge its progress toward improving the overall prosperity of our economy and our residents. While our primary measure of prosperity – Per Capita Personal Income (PCPI) declined again relative to both the US and our competitors, we are seeing “on the ground” developments that will eventually turn that negative trend around. In fact, the Southern Governors’ Association just released this report which validates both our metrics as well as some of our strategies developed to impact those metrics. Let me take just a few minutes to explain. The Report – Advanced Manufacturing in the American South: An Economic Analysis Supporting Regional Development – focuses on a number of themes that bear repeating: