Although this appears simple in concept, tackling these strategies requires a number of difficult questions to be answered, such as: What industries should be targeted for recruitment? What data needs to be presented to companies being recruited? Which existing industries should be focused on for growth? Which start-ups are more likely to succeed? What patents or discoveries have the greatest chance for success? Many questions like this must be addressed in formulating specific economic development strategies. The concept of industry clusters can play a powerful role in answering these question specific strategies for successful economic development.

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