Small-and Medium-size Communities and Economic Development : Focusing on Montgomery County, Virginia in the U.S.A.

다국어 초록 (Multilingual Abstract)

As the knowledge-based economy has become a more important issue, numerous studies have investigated how to improve the economic capacity of diverse geographical scales responding to the current global competition and rapid change in information communication and technologies (ICTs). However, relatively little attention has been devoted to small- and medium-size communities to reveal what factors make them competitive and distinctive. To find real drivers of economic growth in the context of those communities, this study uses an asset-based community development (ABCD) approach focusing on associations, institutions, and amenities. The case analysis relies on in-depth interviews with selected key regional economic development participants in Montgomery County region, Virginia in the U.S. Interesting finding is that small town spirit (mutual trust and collaboration) were more important than formal government policies (running clawback clause) for accumulating creative and high-tech regional economic capacity. In addition, diversified industries worked a critical role in buffering the negative effects of economic recession and enhancing the regional economic growth. The other findings and implications of them are thoroughly discussed.

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