agglomeration economy


Definition of agglomeration economy

: a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximity The existence of agglomeration economies can imply different things for local and national policymakers.— Edward L. Glaeser, Agglomeration Economics, 2010

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First Known Use of agglomeration economy

1975, in the meaning defined above

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Cite this Entry

“Agglomeration economy.” Dictionary, Merriam-Webster, Accessed 14 Aug. 2020.

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