| Industry Clusters / Overview |
In February 2003 an innovative plan to spur job growth was developed in Massachusetts. Six Regional Competitiveness Councils were created utilizing the expertise of each region’s business, education, and community leaders. The Berkshires were selected as one of the six regions.
Professor Michael E. Porter from Harvard Business School’s Institute for Strategy and Competitiveness served as special advisor to the regional councils and developed a specific cluster analysis for each of the six regions.
Acting on behalf of the Berkshire council, the Berkshire Economic Development Corporation is currently working with four specific clusters designated as drivers of the economy and leaders in potential growth.
Berkshire clusters are:
- Financial Services, a “Big & Growing” and “High Wages & Growing” cluster in the Berkshires has added over 350 jobs in the past few years and is projected to grow 2.25% annually
- Diversified Manufacturing, a “Current Core” cluster that consists of Plastics, Forest Produces (paper), and Chemical Products as the major manufacturing industries
- Hospitality, Arts, Culture & Tourism, a “Big & Growing” cluster continues to play a large role in the Berkshire economy. Hospitality & Tourism is projected to grow at 3.70%/year while Arts, Recreation & Entertainment is projected to grow at 3.65%/year for the next 5 years.
- Education & Knowledge Creation, a “Big & Shrinking” cluster has not experienced the same growth over the past 5 years but with the Creative Economy and the Berkshire Wireless Learning Initiative, growth is projected over the next few years.