Report Highlights Principles to Guide North Carolina’s New Economy

At a time when North Carolina is experiencing record-setting layoffs, the dot-com bubble has burst, and traditional industries are undergoing critical changes, North Carolina needs a cohesive, bipartisan economic development strategy that embraces the dynamics underlying the new economy, according to a new report issued by the Institute for Emerging Issues.

Jump Starting Innovation: 10 Principles to Guide North Carolina’s New Economy, is being sent to 5,000 policy makers, business leaders and university officials around the state and the nation. The report aims to help these leaders develop new ways of thinking about innovation, technology and creativity and the role they play in the state’s economy.

Developed out of the 2003 Emerging Issues Forum, key points of the report include:

• State government needs the capacity for ongoing, independent assessments of alternative economic development strategies.
• Private sector leaders, especially those from the new economy, must shoulder greater responsibility for helping set strategic priorities for the state.
• Universities can further contribute to job growth by bolstering collaboration among their technology transfer and economic development offices.
• Regional economic development can be strengthened significantly by a clearer niche-strategy, especially with regard to science and technology investments. And,
• Rural and inner city economic development can be enhanced considerably by focusing on seeding small, indigenous businesses.

Located at North Carolina State University, the Institute for Emerging Issues identifies emerging trends in North Carolina, sharpens public debate on their impact, proposes strategic responses, and stimulates action by the public and private sectors. The Institute has introduced new approaches to entrepreneurship in rural communities, catalyzed regional discussions on innovative opportunities — from biotechnology to creative approaches to economic development — and expanded efforts to foster technology transfer and commercialization.

The report is available at: http://www.ncsu.edu/iei