The Boom in High-Tech Business Services: A New Impetus to Economic Development in Texas
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Business services, also called producer services, are intermediate activities that provide inputs for the production of goods or other services, rather than directly serving final consumers. They enhance efficiency and add value at various stages of production processes, both upstream (e.g., research) and downstream (e.g., marketing) of actual physical production. Business service inputs may be either undertaken within firms or purchased from firms that specialize in the relevant activities.