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Innovation Districts Continue to Rise


The Innovation District phenomenon has been quick to spread and has been embraced by cities and metros across the US. A recent urban planning trend, it has emerged as a new model to stimulate economic growth and modernize economies. Brookings has released a detailed report which provides some valuable observations on the rise of the trend. The rise of the so-called urban innovation hubs can be tied to the shifting demographic and economic forces that are altering the way we live and work. Young talented workers have a growing preference to work and live in vibrant neighborhoods that offer a range of choices in amenities, housing and transportation. The report also mentions the larger overall trend of “open innovation,” a growing application where companies work with other firms, inventors and researchers to generate new ideas and bring them to market. [BRO]