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