The Lowell high-tech success story: what went wrong?
AbstractTen years ago Lowell, Massachusetts was a high-tech success story. After several decades of stagnation, the Lowell area had emerged as a thriving center for high-technology employment. The Lowell story was viewed as a "model for reindustrialization" for older cities throughout the world. In recent years Lowell has once again become the focus of international attention, this time as an example of a failed economic development strategy. Widespread layoffs and plant closings within its computer industry, particularly the collapse of Wang Laboratories, have dealt a crushing blow to the local economy. This article analyzes the boom and bust periods the Lowell economy experienced with high-technology employment, identifying what went wrong and what might have been done to mitigate the impacts of economic and industrial change.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Boston in its journal New England Economic Review.
Volume (Year): (1995)
Issue (Month): Mar ()
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