That’s the conclusion of a study recently undertaken cooperatively by the Brookings Institution and McKinsey. Here are two examples from their work:
[The]state of Colorado—as part of the Colorado Blueprint economic planning process—commenced a systematic search for a strategy to advance its formidable aerospace industry in the summer of 2012. Likewise, in 2013, the state of Tennessee executed a similar exercise focused on its signature auto manufacturing industry. In both cases, a focused state sensed disruptive change in the air and sought to defend and expand a critical industry, so as to grow more and better jobs during a pivotal decade.
In doing so, Colorado and Tennessee have stepped forward as leaders. In parallel, they have acted on their own to renew the nation’s strategic economic base from the “bottom up”: state by state and region by region. Together, these and other efforts to expand America’s advanced industries point to an important new priority for economic discussion, research, and work to renew the nation’s economy in support of broad-based prosperity.
You can download the full report, Powering Advanced Industries State by State, here.