Industrial clustering as an economic development strategy can have very distinct advantages for a regional economy. Recent economic development efforts in the State of Ohio have focused on identifying key industrial clusters within specific regions of Ohio. With these initiatives, Dayton, Ohio and its aerospace cluster became the first region to be tapped as part of the 'Ohio Hubs of Innovation and Opportunity'(OHIO) program sponsored by the Ohio Department of Development in 2009. These 'third-wave' economic development efforts are a combination of entrepreneurial ingenuity, buying-selling relationships, and a knowledge-based economy.
The following thesis project is a quantitative economic development study that looks at the prospects of a knowledge-based avionics industrial cluster in Greene County and Southwestern Ohio. By using proven economic base analysis methods, I will identify the strong versus weak industries of the region. In addition, input-output models will be analyzed to determine what industries are buying and selling to and from each other in this region. From there, I will
develop an avionics cluster from existing cluster templates based on the industrial analysis. This type of analysis will provide further basis to the concept of industrial clustering as a core foundation of sound economic development. In addition, the rationally based quantitative study allows officials to suggest recommendations and conclusions that will further enhance 'Ohio's Hubs of Innovation and Opportunity' moving forward.