elinkeinokeskittymien

elinkeinokeskittymien is a Finnish term that translates to "economic concentration" or "industrial cluster." It refers to a geographical area where a specific industry or a group of related industries has become highly concentrated. This concentration can be due to various factors, including access to resources, skilled labor, research institutions, or historical development.

These clusters are often characterized by a dense network of companies, suppliers, service providers, and specialized educational or research facilities all operating within close proximity. The close interaction and competition within these clusters can foster innovation, knowledge spillover, and increased efficiency. Companies within an elinkeinokeskittymien may collaborate on research and development, share best practices, and benefit from a readily available pool of specialized talent.

Examples of elinkeinokeskittymien can be found across various sectors, such as technology hubs, biotechnology regions, or manufacturing centers. The success of these clusters often depends on strong local governance, supportive infrastructure, and a dynamic business environment. While offering significant advantages, high concentrations can also present challenges, including increased competition for resources and potential vulnerability to industry-specific downturns. The concept is closely related to the "New Industrial Geography" and "Agglomeration Economics" in broader economic theory.