Five Novel Insights for Regional Economies and Company Strategies
This chapter identifies five unique insights from this research that advance current discourse about regional economic development, and the role that businesses play in shaping it. First, there are regional advantages that stem from a talent base whose skills are applicable across many industries or sectors of the economy. Second, different factors play prominent roles in attracting and retaining talent. For managerial and administrative talent, economic opportunities play the primary role for talent attraction; quality of life factors play a more important role for talent retention. Third, talent is often more geographically bound than the companies that employ this talent. Fourth, hidden headquarters comprise a significant amount of headquarters activity. Fifth, there is often a difference in the quality of life factors that play an important role in attracting or retaining talent, compared to a region’s quality of life strengths.