Economic Clusters

Economic clusters are geographic concentrations of interconnected businesses, suppliers, and associated institutions in a particular industry. These clusters foster collaboration, innovation, and competitiveness by enabling companies to share knowledge, resources, and talent more easily. Examples include Silicon Valley for technology or Detroit for automotive manufacturing. Clusters boost economic growth in the region and can create job opportunities, economic specialization, and a dynamic environment that attracts investment and talent. Essentially, they are natural hubs where related industries and organizations thrive together, benefiting from proximity and mutual support.