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Creating Capacity for Innovation

United States Department of Commerce Tom Guevara

Monday August 4, 2014

•  Increase capacities through co-investment with local stakeholders

•  Unique position to encourage innovation

•  Leverage communities existing assets

•  Position communities for private sector investment

THE ROLE OF GOVERNMENT

“Government is a Vehicle for Collective Action.”  M.Feldman  

•  Government investment is unique because it: •  Distributes risk across communities •  Can afford to weather the long term time

frame for ROI

•  These investments are mandatory to achieve the public good

•  Invest in assets with catalytic potential

CLARIFYING EDA’S ROLE.

Create the conditions for economic growth.

DIRECT EFFECT: INCREASE CAPABILITIES WHICH CATALYZE INTO BUILT UP CAPACITIES

ECONOMIC DEVELOPMENT OUTCOMES

AN ESSENTIAL PRECURSOR TO ECONOMIC GROWTH

BUILD UPON THE EXISTING ECONOMIC AND CULTURAL FOUNDATION OF A REGION

Government’s essential purpose is to enable us to achieve our desired quality of life.

The primary vehicle for achieving a quality of life is through the expansion of capacities that result in the realization of individual, firm and

community potential.

THE BOTTOM LINE