Technology and the Innovation Economy: How To Harness New Engines for Growth

Technology is a great enabler of innovation. In areas from education and health care to entrepreneurship and science, technology promotes jobs, builds wealth, and benefits individuals, communities and societies. Technology has been a key driver of economic growth over the last two decades, fueling the innovation and entrepreneurship that are crucial to long-term economic development and prosperity. In the wake of the current recession, harnessing the power of technology will be necessary to lift the United States out of this prolonged economic downturn. But what are the new advances that will stimulate growth and job creation in the technology arena and beyond?

On October 19, the Center for Technology Innovation at Brookings hosted a discussion exploring how a range of policies—including a permanent research and development tax credit, reasonable immigration reform and improved worker training in science, technology, engineering and math—can speed the development of an innovation economy and spur sustainable, long-term economic growth. Darrell West, vice president and director of Governance Studies, and founding director of the Center for Technology Innovation at Brookings, moderated a conversation with Eric Nakajima, senior innovation advisor for the state of Massachusetts, Justin Rattner, chief technology officer for Intel and the director of Intel Labs, and Kevin Richards, senior vice president, federal government affairs at TechAmerica. West also released a new paper, “Technology and the Innovation Economy.”

After the panel discussion, speakers took audience questions.