SQ Consult assessed the impact of Cleantech clustering on the local economy in an assignment for Imperial College London Grantham Institute - Climate Change and the Environment.
While anecdotal evidence suggests Cleantech cluster have a positive impact on local economic growth and employment, limited empirical evidence exists. In support of Imperial College's plans to catalyse the development of a CleanTech cluster in the greater London area, SQ Consult analysed a number of Cleantech cluster case studies around the world. Where available, the accelleration of economic growth rates and employment growth rates for the Cleantech cluster compared to other sectors was assessed, and the policy environment in which the clusters developed was assessed. In general, growth rates a factor 2-3 higher were observed for Cleantech sectors compared to other sectors or the economy as whole, both for economic growth and job growth rates.
The results were presented at a stakeholder event addressed to the research community, local government and companies.
For more information contact: Dian Phylipsen