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Prosperity used to come from pulling crops or minerals out of the ground.
Then it used to come from manufacturing prowess.
But these days it comes from innovation, an expert on global competitiveness said here today.
"In the 21st century, the way you get to prosperity has changed. ... The way you create prosperity is that you are the most innovative region in the country...," said Randall T. Kempner.
"It's innovation which drives competitiveness, which drives productivity, which drives prosperity," he added.
Kempner was the guest speaker at the Economic Development Co. of Lancaster County's 18th annual meeting, held at Willow Valley Resort and Conference Center.
Innovation will result in products or services so special that customers will be willing to "pay what you need them to pay" and competitors will have trouble imitating them, he said.
Kempner, speaking to a crowd of about 330 people, noted that innovation is not the same as invention.
An invention is a new idea. Innovation is turning that new idea into a product or service that creates value, explained Kempner, director of the non-profit Aspen Institute's Aspen Network for Development Entrepreneurs, based in Washington.
To foster innovation, a community can develop its own talent by investing in education, retain talent by protecting the quality of life, cultivate a dynamic and tolerant culture, and encourage environmentally sound practices.
Staff writer Tim Mekeel can be reached at tmekeel@LNPnews.com or 481-6030.
