Global Innovation Day - Ross deVol

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Bilbao, 16 de junio 2011 Global Innovation Day

Bilbao, 16 de junio 2011 Global Innovation Day

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  • 1. Characteristics of Competitive Places: The Role of Innovation in Economic DynamismRoss DeVol Presentation For:Executive Director, Economic Research “Global Innovation Day ” Conference(310) 570 4615 Bilbao, Spainrdevol@milkeninstitute.org June 16, 2011www.milkeninstitute.org
  • 2. Overview• Long-term regional growth process• Regional economic innovation ecosystem• Silicon Valley: a case study in innovation
  • 3. Long-term regional growth process• Large regional differences in growth• Few barriers to flow of economic activity• Export-intensive activity is critical• Manufacturing is an export sector• Healthcare services can be an export
  • 4. Factors affecting disparityin regional growth• Existing industrial structure• Cost of doing business: – Tax rates, capital costs, wage rates, space costs, energy costs, health care costs, etc.• Labor force skills, access to markets and capital• Research, development and innovation capacities• Quality of place issues
  • 5. Research and development composite 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 6. Risk capital and entrepreneurialinfrastructure composite 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 7. Human capital investment composite 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 8. Technology and science workforcecomposite 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 9. Technology concentration and dynamismcomposite 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 10. State Technology and Science Index 2010 Legend Top 10 Second tier Third tierSource: Milken Institute Bottom 10
  • 11. Per capita income & Tech and Science Index Income relative to working age population, 2007 $US Thousands 55 Actual Predicted 50 45 40 35 30 25 AL AZ CO DE GA IA IL KS LA MD MI MO MT ND NH NM NY OK PA SC TN UT VT WI WY AK AR CA CT FL HI ID IN KY MA ME MN MS NC NE NJ NV OH OR RI SD TX VA WA WV