Clusters and Infrastructure
Communities grow their economies through clusters. A cluster is a regional concentration of related industries. Traded clusters represent businesses that sell goods and services both in and outside the region. As a result, they can serve larger markets and pay higher wages. Local clusters sell goods and services to the local population. The Bay Area has traded clusters in Business Services, Automotive, Manufacturing, Plastics, Hospitality and Tourism, and Printing among other businesses. Examples of strong local/regional clusters are Healthcare, Local Hospitality (restaurants), Retailing, and Real Estate.
Bay Area Cluster Balance
Recent Harvard Studies show the Bay Area as having 27% traded clusters. Given the regional impact of health care and tourism, we estimate that those numbers may be understated.
Businesses need a strong and stable infrastructure to connect them to their customers and supply chain within and beyond the region. Here are some characteristics of the regions infrastructure.