Getting “WIRED” for Regional Transformation
May 7, 2008
Global competition, a 21st century economic reality, is typically seen as a national challenge, but the front lines of the battlefield are regional, where companies, workers, researchers, entrepreneurs and governments come together to create a competitive advantage. That advantage stems from the ability to transform new ideas and new knowledge into advanced, high quality products or services - in other words, to innovate. And those regions that are successful demonstrate the ability to network innovation assets - people, institutions, capital and infrastructure - to generate growth and prosperity in the region’s economy.
The U.S. Department of Labor (DOL), Employment and Training Administration (ETA) has undertaken an initiative called Workforce Innovation in Regional Economic Development (WIRED) to create these conditions in regions; integrating economic and workforce development activities and demonstrating that talent development can drive economic transformation in regional economies across the United States.
The WIRED Initiative is applying the following six-step conceptual framework to the activities taking place in each of the regions where investments have been made. This six-step framework is not a linear process, instead requiring constant revision and reevaluation. Traditional systems and structures must be challenged in this process and all programs and resources realigned to support the region’s economic strategy.
In addition to funding three generations of regions under the WIRED Initiative, ETA is making available Regional Innovation Grants to areas of the country that have recently experienced an economic shock and want to begin the WIRED process of identifying their region, creating a leadership team and developing a regional economic strategy. The Four States region is one of these areas recently awarded the Regional Innovation Grant by ETA and is believed to be the first and only WIRED initiative that unites jurisdictions of four different states.
Along with the monetary investments through ETA grants, a number of activities are taking place in support of the WIRED regions including technical support from ETA and other consultants, Development of a nationwide network of foundations interested in investing in regional economic and talent development, and Linkages to angel and venture capital networks. The WIRED approach can bring in new resources to a region through Connections to programs and investments at ten other federal agencies for regions to access and apply in support of their economic strategy.
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