Building Innovation-Driven Regional Economies in Small and Mid-Sized Metro Centers (cont.)

Hazelton-Wilkes Barre-Scranton, Pennsylvania is taking advantage of its close proximity to New York City and Washington, D.C. by capitalizing on assets in its 11 liberal arts colleges and a regional university to form a consortium. The region also is focusing building an entrepreneurial culture. Through these efforts, the region is diversifying its economy from its heritage in coal and apparel to one comprised of knowledge-based companies building on a skilled regional talent pool.

Hazelton-Scranton-Wilkes-Barre Great Valley Technology Alliance Activities: • Regional cooperation across three historically competitive communities. • Formation of the NE PA Technology Institute to aggregate capabilities across 11 higher education institutions for talent and technology. • Establishment of POWER!, a young professionals group. • Creation of a computer talent project for K-12 students. • A host of networking functions and events to build connectivity among firms, education, and government. • Building an entrepreneurial culture through business plan competitions, forming of an angel investor network, and an Entrepreneurship Institute. • Approval of two Keystone Innovation Technology Zones and use of creative STAR teams. • Formation of four Innovation Centers.

Peoria, Illinois is building a knowledge innovation economy; diversifying from an agricultural commodity base to value-added agricultural biotechnology and industrial processing; taking advantage of its regional medical center (UI-Peoria); and building on an underutilized federal asset, the National Center for Agriculture Utilization Research, as well as Bradley University and Caterpillar.

Greater Peoria’s Innovation Initiatives: • Established medical technology district including research park/incubator with EDA support. • Established Research Fund with NSF support. • Increased access to NCAUR, a USDA ag research lab including pilot plant and spin-offs. • Secured community as an Internet2 site. • Monthly networking of capital sources and entrepreneurs and access to regional venture funds. • Formation of an angel fund. • Establishment of the Peoria Prize to reward creativity and collaboration. • Project collaboration among Fed lab, Bradley University, and UI-Peoria Medical Center. • Creation of PeoriaNext steering organization.

Visionary communities increasingly appear to be led by broadened civic leadership that includes higher education, philanthropic and health sectors; economic development professionals willing to think “out of the box” and concerned about results; industry; and finally, supportive state and local governments interested in partnering with, but unlike the past, not driving these agendas.

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