Innovation, Broadly Measured, and Its Effects on Business and Community Economic Health

A summary of “Firm and Regional Economic Outcomes Associated with a New, Broad Measure of Business Innovation,” by Brian Whitacre, Devon Meadowcroft, and Roberto Gallardo, Entrepreneurship and Regional Development, June 2019, 1–23.

Key Takeaways

  • Using a broad definition of innovation allows researchers to compare the
  • innovation activity of businesses across different industries and locations, including rural and urban.
  • Innovation, even when defined broadly, is positively associated with economic benefits at both the business and the regional level.
  • Therefore, future policies should promote innovation activities that are included in the broader measure of innovation described here.

Authors: Kristen Devlin and Stephan J. Goetz

Publication: NERCRD Innovation Issues Brief Series   Date Published: June 4, 2019


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