Economic development; Research and development projects; University of Nevada, Las Vegas
Why do metropolitan areas need to ensure that their universities, corporations, and independent laboratories conduct abundant, top-flight research and development?
Why would Southern Nevada do well to build up its research capability, particularly in the sciences and engineering?
The answer has to do with what has increasingly emerged as an unavoidable syllogism of economic competitiveness. To put it simply: Prosperity depends on productivity; productivity depends heavily on innovation, and innovation depends heavily on research and development.
The bottom line: A region thin on R&D is not likely to be innovative, and if it is not innovative, it will probably not flourish.