“We're not horsing around” Conceptualizing the Kentucky Horse Industry as an Economic Cluster

Abstract

Michael Porter's concept of an economic cluster is used as a heuristic tool for assisting residents and policy-makers in understanding the diverse economic impacts of the horse industry in Kentucky. “A cluster is a geographically proximate group of interconnected companies and associated institutions in a particular field, linked by commonalities and complementarities” (Porter, 2000, p. 16). This concept helps us to understand the complex relationships and social dynamics that link seemingly disparate businesses into a competitive economic sector. The importance of research and information from public institutions as well as policies and investments by local and state governments on the survival of clusters will also be explored. It will be argued that the concept of a cluster can stimulate a more comprehensive way of thinking about regional economic development, especially in resource-dependent areas.

Keywords:

• Economic clusters
• horse industry
• Michael Porter
• information networks