Ideopolis: knowledge city-regions - Boston case study explores the position of Boston in the knowledge economy. It outlines the strengths of the city and the weaknesses, the role of public policy, how it answers the core research questions of the project and, finally, what other cities can learn from the city.
Key findings include:
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Physical knowledge city: Some new businesses are innovatively placed actually on university campuses. However, there is a significant housing crisis, and high prices deter people from moving into the area.
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Building on what’s there: Boston has built on its historical strengths in education to succeed in the knowledge economy. Universities such as MIT have had some highly successful spin-off firms.
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Diverse specialisation: The diverse industrial base helped it weather the dot-com bubble. The financial services sector provides venture capital for new firms.
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Vibrant education sector: Boston has seven universities, and these are crucial for the development of the city.
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Distinctive knowledge city offer: Boston has an international reputation, connected, in many ways, to the success of the universities.
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Investing in communities: The city is losing population, in part due to the high house prices and cost of living: local families move out, while childless couples can afford to stay.