As defined by The Brookings Institution, clusters are "geographic concentrations of interconnected businesses, suppliers, service providers, and associated institutions in a particular sector."
The development of regional innovation clusters is important to diversify Northeast Ohio’s economy in order to:
- Transition from unemployment or underemployment to high-skill jobs
- Create new, higher wage job opportunities
- Develop regional business opportunities that are less susceptible to off-shoring
- Engage and stabilize diverse communities by re-purposing idle assets and human capital
- Manufacture products in region for export to other markets, driving revenue back to the region.