What Are Clusters?
Today’s economic map of the world is characterized by “clusters.” A cluster is a geographic concentration of related companies, organizations, and institutions in a particular field that can be present in a region, state, or nation. Clusters arise because they raise a company's productivity, which is influenced by local assets and the presence of like firms, institutions, and infrastructure that surround it.
• Clusters increase productivity and operational efficiency.
• Clusters stimulate and enable innovation.
• Clusters facilitate commercialization and new business formation.