Title

The Benefits Of Economic Development Strategies Focused On High Tech, Early-Stage Businesses Versus Those Focuesed On Traditioal, Later-Stage Businesses

Author(s)

Jay Gohil

School Name

South Carolina Governor's School for Science and Mathematics

Grade Level

12th Grade

Presentation Topic

Consumer Science

Presentation Type

Mentored

Mentor

Mentor: Ernest Andrade, Executive Director, Charleston Digital Corridor

Abstract

The Charleston Digital Corridor has been fostering economic development in the Charleston, South Carolina region since 2001. Ernest Andrade, the founder and executive director of both the Charleston Digital Corridor and the City of Charleston’s Office of Business Development, has developed new methods and processes of conducting economic development. Along with these prestigious titles, Mr. Andrade is also the principle of Andrade Economics, a business economic development consulting firm focused on the elements of high wage job creation including business incubation, talent development and capital formation. This research aimed to confirm Mr. Andrade’s methods for economic development were proven by comparing the benefits of economic development strategies focused on high tech, early-stage businesses versus those focused on traditional, later-stage businesses. The data gathered were able to quantitatively and qualitatively explain Charleston’s successful economy. It has been more effective to focus high growth, high tech industries in Charleston and such maybe applicable to other cities with similar demographics.

Start Date

4-11-2015 9:30 AM

End Date

4-11-2015 9:45 AM

COinS
 
Apr 11th, 9:30 AM Apr 11th, 9:45 AM

The Benefits Of Economic Development Strategies Focused On High Tech, Early-Stage Businesses Versus Those Focuesed On Traditioal, Later-Stage Businesses

The Charleston Digital Corridor has been fostering economic development in the Charleston, South Carolina region since 2001. Ernest Andrade, the founder and executive director of both the Charleston Digital Corridor and the City of Charleston’s Office of Business Development, has developed new methods and processes of conducting economic development. Along with these prestigious titles, Mr. Andrade is also the principle of Andrade Economics, a business economic development consulting firm focused on the elements of high wage job creation including business incubation, talent development and capital formation. This research aimed to confirm Mr. Andrade’s methods for economic development were proven by comparing the benefits of economic development strategies focused on high tech, early-stage businesses versus those focused on traditional, later-stage businesses. The data gathered were able to quantitatively and qualitatively explain Charleston’s successful economy. It has been more effective to focus high growth, high tech industries in Charleston and such maybe applicable to other cities with similar demographics.