Why invest in cluster development?Alaska is experiencing accumulating levels of future risk and declining economic resiliency due to:
- Continuing declines in oil production (source of 85% of state revenue)
- Uncomfortable trends in other natural resource sectors (regulations, environmental concerns)
- Aging workforce
- Weak culture of entrepreneurship
- Remoteness and related infrastructure challenges including high energy and transportation costs
As a business and governmental community, we have examined the problem endlessly. It is time to take action to improve the competitiveness of our key industries in the international economy
What is the implementation strategy?
- Formation of industry cluster working groups
- Identification of industries that are reflective of the cluster model
- Establishment of criteria (regional, NAICS codes, etc.) that comprise a representative cluster sample
- Conduct facilitated action plan of identified working group
- Implement action items that generate from the working group process
How does cluster development fit in the full scope of a statewide economic development strategy?
- Through an active public-private partnership, it is intended that the action initiatives developed through the working group process will be incorporated into a comprehensive economic development strategy for our state