Metropolitan economic strategy for America's cities and regions

This paper is based on evidence from a quantitative study of 114 of the largest metropolitan regions in the United States of America (USA). It provides an overview of regional development and demonstrates how these regions are undergoing transformation from manufacturing-based to information-based economies, or the 'New Economy', in response to technological change and increasing globalisation. Some regions have developed new types of service industries while others have transformed existing, traditional manufacturing industries. The authors outline the various roles that cities can adopt in the New Economy. For example, acting as centres of innovation, education, research, health care, culture, recreation, tourism, transportation and trade, and market and workforce centres. They outline and give examples of ten broad elements of economic strategy that can be utilised by regions to support industry network development and improve regional competitiveness and success. These elements are transportation and infrastructure, research and technology, education and workforce development, financing, business development and attraction, trade promotion and market development, tax and regulatory policy, environmental preservation and restoration, economic and community revitalisation, and quality of life.