Business Development Board
310 Evernia St.
West Palm Beach, FL 33401
Main: 561.835.1008
Fax: 561.835.1160
Targeted Industry Clusters in Palm Beach County
What is an industry cluster?
An industry cluster can be a group of interrelated industries that drive wealth creation within a region, primarily through the export of goods and services. An industry cluster may consist of industries that share the same or similar workforce, factors of production or infrastructure. It may also be defined by the production of similar outputs, complementary output or other interdependent relations. Analyses of industry clusters therefore, help in defining economic drivers (key industries) within a geographic region, and facilitate a better understading of regional economies and how they evolve over time.
The Business Development Board commissioned SRI International to perform an industry cluster development strategy for Palm Beach County. In earlier studies SRI identified and described six key clusters in our region.
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Aerospace/Aviation/Engineering
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Agribusiness
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Business/Financial Services
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Communications/Information Technology
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Life Sciences
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Tourism/Recreation/Entertainment
Cluster-based economic development initiatives are built around the idea that nurturing key industries improves the competitiveness of businesses within these industries, in turn boosting the economy.
The Business Development Board organizes an Industry Cluster Committee network as well as several Task Forces designed to build upon the market knowledge and expertise of businesses with the talents and resources of government, education and economic development organizations. Clusters can grow through informal networking, but some formal structure helps ensure their growth and effectiveness. BDB will play a role in removing barriers to cluster formation and helping provide a forum for businesses in targeted clusters to voice their concerns, identify their challenges and explore their opportunities. Please join our active industry cluster committes and task forces.
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Aerospace/Aviation |
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Lifesciences Cluster |
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Industrial Development |
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Membership |
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