What is meant by global and domestic innovation

Case Scenario: You work at the local Chamber of Commerce as the Director of Economic Development and you have been given a task to create a proposal on how the economy can start to function adequately again after the pandemic. The proposal will be presented to the State Task Force for reopening the economy. You know your local economy thrives on local and global tourism, with the vast number of theme parks and small businesses counting on tourist dollars to survive.

Instructions

Using Microsoft Word, answer an Economic Development Proposal for the upcoming State Task Force meeting. The proposal should cover the following:

• What is meant by global and domestic innovation?
• Why is the creative economy important to the health of a nation`s, state, and local economies and, in your opinion, what factors account for the increased policy attention given to these creative and innovative sectors?
• What role does creativity play in innovation in contemporary cultural and economic life?
• Provide a recommendation to address the domestic and global innovation needed to boost your local economy.