Advanced Manufacturing in the American South: An Economic Analysis Supporting Regional Development
Monday, September 9, 2013
“We can compete better if the region comes together on advanced manufacturing and presents a united front. This report provides us with an important tool to begin the process.”
Steve Beshear, Governor of Kentucky
- A cluster strategy of economic development is the appropriate framework for promoting the evolution of a strong advanced manufacturing sector in the American South and beneficial spillover impacts for the broad regional economy.
- Innovation deficits and labor force gaps are the biggest challenges but are not insurmountable. Well-placed investments in the development of science and technical education will likely yield measureable returns.
- The Southern states have been effective in promoting a low-cost strategy of economic, and particularly manufacturing, advancement. This strategy needs to be supplemented by investments that will promote value-added in the production process, an element of business competitiveness as important as low costs.