Support networks and facilities for innovation and R&D
The success of an industry in a particular geographical area might not just be related to the cost of production. For example, businesses can benefit from the presence of local expertise, a pool of skilled labour, or research and development facilities. The cluster concept aims to build on this idea.
Clusters are geographically close, interconnected companies and specialised suppliers within certain fields that work and co-operate with each other, as well as being competitors.
Support for these clusters includes helping companies access a skilled workforce, quality universities, good sites and investment capital. Growth in these clusters also attracts suitable suppliers and even customers to the area.