Job Creation and Local Economic Development

image of Job Creation and Local Economic Development

This publication highlights new evidence on policies to support job creation, bringing together the latest research on labour market, entrepreneurship and local economic development policy to help governments support job creation in the recovery. It  also includes  a set of country pages featuring, among other things, new data on skills supply and demand at the level of smaller OECD regions (TL3).

This publication is the first in a series to take this integrative approach, and it is designed to be user friendly and accessible to all government officials, academics, practitioners and civil society with an interest in local economic development and job creation.

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Stimulating high-growth firms and local entrepreneurial ecosystems

This chapter introduces the role of high-growth firms – firms which grow quickly over a short period of time – in local job creation. In particular, it presents information on the local distribution of high-growth firms in four OECD countries and on the dynamics by which local entrepreneurial ecosystems influence the presence of high-growth firms at the local level. The chapter points to three significant areas for policy intervention: i) framework conditions such as product market regulation, taxation and employment protection legislation which affect business growth in general; ii) policies supporting the local entrepreneurial ecosystem through close dialogue between public and private sector institutions in areas such as financing and education; iii) schemes specifically targeted to high-growth firms like business accelerators that develop management skills through advice, mentoring and peer learning.

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