Guest column: Innovation districts are key to rebound of smaller cities like Tulsa
The last few years have been a struggle for many communities across the country, and smaller cities have weathered particularly challenging headwinds. Even though the U.S. faces a potential recession in 2023, I am optimistic that these smaller cities can rebound in the years ahead with smart planning outside of America’s largest urban centers. A rebound will take time and represent just part of the solution to a multifaceted problem spanning health equity, brain drain, racial injustice, the housing crisis and transportation. But these cities can succeed and grow economically through carefully planned, and fully funded innovation districts.
The U.S. performs well on global innovation indices, ranking second globally according to the Global Innovation Index. But those rankings measure the nation, led by larger innovation hubs in coastal cities. While major metropolitan cities like Boston; San Jose, California; and Washington, D.C., have economic problems, particularly with respect to affordable housing and public education, they have thriving innovation ecosystems that far surpass anything found in smaller cities.
Investment in innovation districts can correct that imbalance and help to spread economic success throughout the country. Imagine Rochester, New York — a once proud innovation capital boasting corporate anchors such as Eastman Kodak, Bausch + Lomb, and Xerox — regaining its form and fueling success across hundreds of miles of upstate New York. Now consider the same type of production replicated in Tulsa, New Orleans and Birmingham, Alabama.
Innovation districts represent strategic responses to changing economic conditions and a way to leverage existing urban assets in new ways. They are largely set up in geographic areas anchored by academic institutions working in concert with startups, entrepreneurs, business incubators and bright minds from every facet of the community.
While these projects take time to mature, they are already working and providing a sample of the future of economic development in smaller United States cities.
The Biden administration also has seen the benefit of innovation districts. Last spring, the administration announced a National Science Foundation (NSF) program known as Regional Innovation Engines. Each NSF engine can receive up to $160 million in grant funding to grow and sustain regional innovation ecosystems. This program is more than just a way to rebuild and reuse valuable urban spaces, but a path to become more competitive in the global race for talent and leadership in STEM fields — across every region of the country. The program aims to provide up to 10 years of funding to establish each Engine, and up to two years of development time before the launch of each engine. According to the NSF, the end goal is “growing and sustaining regional innovation ecosystems throughout the U.S.”
The NSF program may represent just a down payment in the long-term investment to transition innovation districts from concept to reality, but the message is clear. The White House and its long-term economic planners understand spurring innovation is imperative, and that means small cities need to benefit, too, not just coastal capitals.
Through our work, we have seen innovation districts succeed across the Midwest, and know firsthand how they can benefit small and medium-size cities in the U.S. They are no overnight fix, and require a vision, planning and collaboration in the short-term to drive generational change in the long-term.
Municipal leaders across the U.S. need to seize the momentum created from this White House commitment and NSF funding. These are significant opportunities, but there are many more communities with impressive academic institutions and creative entrepreneurs capable of sparking innovations and boosting economic development in the process. Are America’s smaller cities willing to be bold, invest wisely and show patience? The future of our nation’s economy and ingenuity may depend on it.
Carrie Allen is a managing partner at CIC Captains of Innovation.
This article originally appeared on Oklahoman: Guest: Why innovation districts are key for smaller cities like Tulsa
