Research Park Releases Report on Local Economic Development Strategy

Champaign-Urbana: Report on Technology-Based Economic Development Strategy

This Research Park, in coordination with the University, completed a report on strategies for technology sector economic impact in Champaign-Urbana. The Research Park commissioned Business Cluster Development to investigate which technology and industry sectors have the most potential for growing our local economy and leveraging the strengths of the University of Illinois and existing local industry successes. This study was completed to help compliment the strategic planning goals of the University of Illinois at Urbana-Champaign in supporting economic development. The research included interviews with government, university, business, and entrepreneurial leaders across the community to provide perspective of what they think has the greatest potential in Champaign-Urbana and the strategies and resources that should be implemented to make us successful. The consultant  also included research of other universities and other technology-based economic development programs for trends and best practices that could be implemented here. The goal was identifying both short term and long term goals that could help achieve success.