The blog post by Charles V. McPhillips discusses the potential of the Norfolk Innovation Corridor as an epicenter for resilience products, services, and technologies. He highlights the region’s appeal to entrepreneurs, due to its concentration of skilled talent, technology spill-overs from local firms and academic institutions, and robust support from local service/supply chain players. McPhillips emphasizes the importance of resilience in today’s world, and suggests that the Innovation Corridor Norfolk is well-positioned to lead in this marketplace, thanks to its various assets and activities. He concludes by expressing confidence that the Norfolk Innovation Corridor can become a nationally recognized hub for innovation, thus diversifying and revitalizing the region’s economy.
Introduction
By CHARLES V. MCPHILLIPS
The Norfolk Innovation Corridor
From the dawn of the industrial age to the modern day’s knowledge-based economy, entrepreneurs and their companies have gravitated to metropolitan areas where they can find three resources abundantly pooled: (1) skilled talent located in or powerfully attracted to the area, (2) technology spill-overs from similar firms and academic institutions based there, and (3) deep value-added support from locally bunched players in their service/supply chain.
Resilience in the Corridor
Our opportunity lies in persuading entrepreneurs that the resources they most need are deeply pooled in our region, especially in the Norfolk Innovation Corridor, where “resilience products, services and technologies” are being developed by anchor institutions and firms clustered close together.
Assets and Opportunities
The ability of an individual, an organization or a metropolitan area to absorb a shock to its functioning and its structure, and then to recover from it, is essential in a world where threats to our economic, social and individual ways of life abound. The Norfolk Innovation Corridor is equipped with various assets and activities that position it as a leader in the resilience marketplace.
Building Success in the Corridor
In short, we are positioned to succeed like the renowned innovation districts in Boston, Chattanooga, Durham and Philadelphia because of the physical, networking and economic assets arrayed in productive density within the Norfolk Innovation Corridor.
Conclusion
Once the Norfolk Innovation Corridor becomes the acknowledged epicenter of resilience products, services and technologies in our national economy, we will have both diversified and revitalized our region’s economy.
Charles V. McPhillips served as president of Greater Norfolk Corporation from 2014 to 2020.
Question & Answer
What does Charles V. McPhillips discuss in his blog post?
Charles V. McPhillips discusses the potential of the Norfolk Innovation Corridor as an epicenter for resilience products, services, and technologies.
What resources attract entrepreneurs to metropolitan areas according to McPhillips?
Entrepreneurs are attracted to metropolitan areas where they can find skilled talent, technology spill-overs from local firms and academic institutions, and robust support from local service/supply chain players.
What assets and activities position the Norfolk Innovation Corridor as a leader in the resilience marketplace?
The Norfolk Innovation Corridor is equipped with various assets and activities that position it as a leader in the resilience marketplace, including skilled talent, technology spill-overs, and support from local service/supply chain players.
