Regional development and technology

Technology is the body of know-how (in both tacit and codified forms of knowledge) about the means and methods of producing goods and services. Technology involves science, engineering, and design based knowledge, but also includes developing new methods of organization and practice. Regional development involves complex economic, technical, and social changes and is associated with economic growth, but also includes improvements related to wider administrative institutional, organizational, and political frameworks and operations. Technology, and more widely innovation, is a key element associated with this change and development process at a regional level. This change can however include economic decline as well as growth, as new products, processes, and methods challenge and force out older technologies and practices.