The knowledge economy is emerging globally as a primary economic driver. The wider economic and social benefits to knowledge-economy growth through the development of specialist facilities and services include:
- Generation of primary high-value jobs
- Generation of secondary support, administrative and service jobs
- Creation of secondary support and service companies and economy
- Attraction of socioeconomic groups 1–3 into region
- Retention of graduates
- Inward investment opportunities for investors and industry
- Exploitation of regions’ centres of research excellence
- Positive impact on regions’ image
- Long-term economic sustainability and growth
- Diversification of regional economies