Story excerpt provided by Forbes.
Written by Rebecca O. Bagley.
I have spent the last 10 years of my career in regional economic and industry development. During that time I have seen the U.S. economy go through a dramatic transformation driven by technology and innovation. New industries are emerging rapidly and traditional industries are changing radically through the application of advanced technologies.
In order to stay globally competitive in this new economy, regions must have an economic base that constantly innovates and optimizes the use of technology. Technology-based economic development, or TBED, is the approach used to help create a climate where this economic base can thrive.
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Originally published December 5, 2014.