admin Shift-share analysis is a valuable tool for understanding the components of regional economic growth by decomposing changes in employment into three effects: national growth, industry mix, and regional competitiveness. Applying this analysis to the Edmonton Census Metropolitan Area (CMA) provides insights into how various sectors are performing relative to national trends and highlights the region’s … Read more
The Rainforest model, developed by Victor W. Hwang and Greg Horowitt, is a metaphorical and structural framework for understanding and fostering innovation ecosystems, particularly exemplified by Silicon Valley. According to the model, successful innovation ecosystems are not like well-ordered farms with predefined roles and predictable processes but rather like rainforests, where a diversity of organisms … Read more
An effective innovation ecosystem dashboard and scorecard for the greater Edmonton region should capture and track metrics across several dimensions to provide a comprehensive view of ecosystem health, progress, and areas for improvement. This dashboard should include both quantitative and qualitative metrics and highlight performance trends over time, offering actionable insights for stakeholders, including the … Read more
In an era of shifting global markets, technological disruption, and environmental challenges, effective strategic planning for local and regional economic development has become more critical than ever. Economic developers must create flexible, forward-thinking plans that not only address the immediate needs of their communities but also build resilience for future growth. This article outlines the … Read more
In the world of regional economic development, understanding the pulse of the local business ecosystem is essential. Whether you’re tasked with fostering growth in a bustling metropolis or invigorating a quiet rural community, measuring the health and performance of a regional business ecosystem provides the data-driven insights necessary to make informed, impactful decisions. However, how … Read more
In an era of heightened global competition and technological change, regional economic development has become a crucial pillar of national prosperity. The task of fostering sustainable, inclusive growth within a region—whether urban or rural—requires a sophisticated blend of strategy, tools, and community engagement. While the principles of regional development are broadly applicable, the methods and … Read more
Description: Home services encompass businesses that cater to the maintenance and improvement of residential properties, contributing to the overall livability of the city. Examples: – Home Improvement Services: Renovating and upgrading homes. – Cleaning Services: Providing residential cleaning and maintenance. – Landscaping and Gardening: Enhancing outdoor spaces and curb appeal. Typical Minimal Size of Population … Read more
Description: Utilities and energy services involve businesses that provide essential services like water, electricity, and gas to residents and industries, contributing to the city’s infrastructure and functioning. May be cooperatively owned and operated. Examples: Typical Minimal Size of Population Served to be Viable: A small city with a population of around 8,000 to 12,000 may … Read more
Description: Non-profit and social services organizations play a crucial role in addressing community needs, offering support, and contributing to social well-being. Examples: – Local Charities: Providing assistance to vulnerable populations. – Community Centers: Offering programs and services for residents. – Social Outreach Programs: Addressing specific community issues. Typical Minimal Size of Population Served to be … Read more
Description: Personal care services encompass businesses that cater to individual grooming and well-being, contributing to the overall quality of life for residents. Examples: – Beauty Salons: Offering hair, nail, and skincare services. – Spas and Wellness Centers: Providing relaxation and rejuvenation services. – Barbershops: Offering grooming and styling services for men. Typical Minimal Size of … Read more
