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Local Industry Agglomeration and New Business Activity

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  • Todd Gabe

Abstract

New businesses are highly involved in innovative activity, which enhances worker productivity and leads to increased economic output. This paper investigates the effects of industry concentration on the incidence of new business openings in the 5,504 Maine county-industries. Empirical findings indicate that new business activity increases with the number of incumbent establishments in a county-industry and its concentration level relative to the U.S. economy. Model simulations show that raising county-industries, with no initial industry presence, to concentration levels similar to that of the industry in the U.S. economy results in a 1.7 to 8.9 percent increase in the expected number of business openings over a three-year period. Empirical results also suggest that industry clusters comprised of young and small establishments are more conducive to new business formation than clusters made up of mature and large companies. Copyright 2003 Gatton College of Business and Economics, University of Kentucky..

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Bibliographic Info

Article provided by Gatton College of Business and Economics, University of Kentucky in its journal Growth and Change.

Volume (Year): 34 (2003)
Issue (Month): 1 ()
Pages: 17-39

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Handle: RePEc:bla:growch:v:34:y:2003:i:1:p:17-39

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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0017-4815

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Cited by:
  1. Liviano Solís, Daniel & Arauzo Carod, Josep Maria, 2011. "Industrial Location and Space: New Insights," Working Papers 2072/152137, Universitat Rovira i Virgili, Department of Economics.
  2. Brown, Jason & Lambert, Dayton, 2014. "Location decisions of natural gas extraction establishments: a smooth transition count model approach," Research Working Paper RWP 14-5, Federal Reserve Bank of Kansas City.
  3. Josep-Maria Arauzo-Carod, 2013. "Location Determinants of New Firms: Does Skill Level of Human Capital Really Matter?," Growth and Change, Gatton College of Business and Economics, University of Kentucky, vol. 44(1), pages 118-148, 03.
  4. Josep-Maria Arauzo-Carod & Daniel Liviano-Solis & Miguel Manjón-Antolín, 2010. "Empirical Studies In Industrial Location: An Assessment Of Their Methods And Results," Journal of Regional Science, Wiley Blackwell, vol. 50(3), pages 685-711.
  5. Daniel Liviano & Josep-Maria Arauzo-Carod, 2013. "Industrial location and interpretation of zero counts," The Annals of Regional Science, Springer, vol. 50(2), pages 515-534, April.
  6. Joshua Drucker, 2009. "Trends in Regional Industrial Concentration in the United States," Working Papers 09-06, Center for Economic Studies, U.S. Census Bureau.
  7. Gabe, Todd M., 2004. "Industry Agglomeration And Investment In Rural Businesses," 2004 Annual meeting, August 1-4, Denver, CO 19930, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  8. Arauzo Carod, Josep Maria, 2007. "Industrial location at a local level: some comments about the territorial level of the analysis," Working Papers 2072/4178, Universitat Rovira i Virgili, Department of Economics.

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