Midwest Prospects and the New Economy
Much of the credit for the U.S’s recordbreaking economic expansion and productivity surge has been attributed to technological advances, particularly within information technology (IT) industries or in the application of these technologies to other industry sectors. While the so-called new economy is benefiting all U.S. regions, the level and character of IT/high-tech (IT/HT) development varies widely from one region to another. This Chicago Fed Letter examines regional measures of IT/HT presence and their implications for regional growth.
