8/11/2011 1:37:00 PM
Wall Street Journal: Copying Silicon Valley's Job Engine
Wall Street Journal
How do you catch lightning in a bottle? That's what economic development officers are trying to learn from Silicon Valley.
While more than 9% of Americans remain unemployed, the Valley is overflowing with investment dollars helping new companies create high-paying jobs. State officials elsewhere are trying to take a piece of that economic magic and apply it to industries such as medicine, security, energy, and even metals.
The tech formula itself can be boiled down to three ingredients. First, form partnerships between university research labs and private businesses to speed commercialization of ideas. Second, raise cash to invest. And, lastly, develop a skilled workforce. Full article