Abstract
This study analyses the relationship between clusters and the growth performance of new U.S. technology-based firms. It is argued that firms benefit because clustering provides access to specialized resources that cannot be developed internally. The empirical results indicate that distance from a cluster is negatively related to growth, but clustering has a greater positive impact on biotech firms. Proximity to a cluster within a diverse metropolitan area is associated with superior growth performance only for firms that rely heavily on broad, downstream supply chain effects (that is, for information and communications technology firms).
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