Making the most of place-based industrial policy

Many OECD countries are taking a place-based approach to scale strategic sectors and bolster economic security, while some have sought to explicitly address local and regional disparities. These programmes recognise the place-based hardships of de-industrialization – coupled with demographic decline – and, increasingly, those areas disproportionately impacted by climate change. In the United States, the Inflation Reduction Act (IRA) looks to revitalise American manufacturing while the Chips and Science Act (CSA) aims to boost competitiveness in strategic industries with the CHIPS for America Fund which leverages direct financial incentives, R&D investment and workforce development programs to boost the U.S. semiconductor industry. 

In the European Union, the EU Green Deal and Critical Raw Materials Act seek to position the EU as a production hub for green technology and critical minerals while pursuing greater territorial cohesion. Other countries have also made large investments – rapid semiconductor deployment in Kyushu prefecture, Japan, major investments in battery production in Quebec, Canada, and similar policies spanning regional hubs in France, Germany, Brazil, the U.K., amongst others. This webinar took a look at the progress made, and lessons learned, in the implementation of place-based industrial policies, drawing from a slate of global examples with important local effects. 

This webinar is organised as part of the series "Global Inspirations, Local Innovations " in partnership between the OECD’s Centre for Entrepreneurship, SMEs, Regions and Cities and the U.S. Mission to the OECD.

The OECD’s Centre for Entrepreneurship, SMEs, Regions and Cities (CFE) provides comparative statistics, analysis and capacity building for local and national actors to work together to unleash the potential of entrepreneurs and small and medium-sized enterprises, promote inclusive and sustainable regions and cities, boost local job creation, and support sound tourism policies.

The U.S. Mission to the OECD (USOECD) provides policy analysis and coordination support to facilitate U.S. engagement at the OECD and disseminates relevant research products to respective U.S. Government agencies, the public, and other interested stakeholders.  The U.S. representation engages at the highest level within the organization to ensure decisions taken at the OECD reflect U.S. Government priorities.  In coordination with OECD, the USOED developed this subnational policy series to work with state and local leaders on policy research and tools to ensure inclusive, economic growth and prosperity.  This initiative is funded by the U.S. Department of State.