Science/Technology Parks and Regional Development Theory

Abstract

Science/technology (or research) parks have become a prominent element in regional development strategies. Most existing studies of these parks are anecdotal, or focus on parks as real estate ventures only. No study we have seen attempts to analyze the types of regional development outcomes we can expect from science/technology parks and how and why those outcomes might vary. These are important for planners and policymakers to know so they can decide whether science/technology parks can be effective in restructuring regional economies. In this article, we address these issues by drawing on the regional development theory literature. We discuss the outcomes predicted by that literature, critically review those predictions or hypotheses, and provide some insights about their applicability in the U.S. context. Specifically, we review different theories that can be used as ex post rationales for science/technology park development, and critically assess each as explanations of science/technology park development; focus on the particular hypotheses suggested by theory that relate variations in regional development impacts to different input elements of science/technology parks; and place science/technology park development within the broader scope of regional development and technology policy.