The Economic Perspective: “High Tech Clusters”

I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at high tech clusters. Mike, acquiring technology companies is an economic development objective of most communities.  This is because the tech sector is expected to be one of the fastest growing industries in coming decades.  How is North Carolina doing in this tech race, and besides employment, what are the advantages of having a vibrant tech industry?

  • Most people know NC is a major player in the tech sector
  • For each of the three tech industry components – computers science, semiconductors, and biotech – the Triangle is among the top twenty in tech economic activity
  • Creates jobs and incomes
  • But a new study found a further positive impact of tech – generates innovation both inside and outside the tech sector
  • In other words, there’s an advantage to companies and workers just being in a major tech center
  • I’m MW

And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.