Baby steps towards a stronger economy

Written 23.12.2004 21:25 by Boris Doesborg Print Send article

US state South Carolina takes baby steps towards a stronger economy. That was the message of a speech given by Wall Street financier Darla Moore during the University of South Carolina's annual Economic Outlook Conference. More than 200 people attended this conference.

Last year, Moore helped starting an inititave designed by Michael Porter’s that must make the state more competitive. The initiative aims at developing industry clusters that find ways to be more competitive through cooperation.

Moore reckoned that the effort to increase competititveness is a long term project. “It is a marathon and not a sprint. For us the battle has just begun and we must wage it everyday,” she said

Out of the competitiveness initiative came the South Carolina Competitiveness Council that focuses on creating a new economic development strategy. The council set up six task forces: education and work force, research, small business, cluster activation, measuring progress and distressed areas.

"When we first started this off, most people didn't know what a cluster was much less think South Carolina had any," said Moore “Now every industry thinks it's a cluster”.

The presence of Vought Aircraft Industries Inc. at the Charleston Airport could sow the seed for an airline cluster. Vought announced a collaboration with Italian Alenia Aeronautica that would create more than 600 jobs at a $560 million aircraft complex.

Source: The State