Leaders on the Radar: Locating with Like-Minds
The concept of locating entities with similar endeavors within areas of land called “parks” takes many forms. The most common are industrial parks, business parks, commerce parks, technology parks, research parks and science parks. The definitions and functions within these broad designations vary widely, however. In the case of technology and research parks, they are commonly established in collaboration with universities to capitalize on their knowledge bases and facilities. On the other hand, manufacturing is the primary focus of industrial parks while business parks focus on administration. In all cases, though, the benefits of the park concept are the achievement of economic gain, knowledge and innovation from the synergy of endeavors, particularly for small and medium-sized business. Because parks literally offer common ground, resources can be shared which can help to reduce the overhead costs of such things as telecommunications and power supplies, as well as essentials such as parking and security, and perks like daycare and restaurants. In addition, municipalities often offer incentives to businesses locating in parks because they help expand the tax base and broaden employment opportunities. more....