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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
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