Assessing the Industry Cluster Approach to Economic Development: Identifying Challenges to Growing Puerto Rico’s Digital Economy
Most industry clusters have emerged on their own, even though a growing number of regions are now enacting economic development policies designed to foster industry cluster formation and expansion. Some have advised that this is the best approach for Puerto Rico to take in order to spur community renewal and revitalization. However, as policy makers in Puerto Rico commit to this strategy they must fully assess the benefits and drawbacks of industry clusters, identify the implementation challenges for Puerto Rico, and work towards decreasing the obstacles for the success of the approach.