From eco-industrial parks to circular-industrial parks: developing new industrial parks for new business models

From eco-industrial parks to circular-industrial parks: developing new industrial parks for new business models | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Research Article From eco-industrial parks to circular-industrial parks: developing new industrial parks for new business models Alexandre coussa This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-5595940/v1 This work is licensed under a CC BY 4.0 License Status: Posted Version 1 posted You are reading this latest preprint version Abstract This study introduces the understudied concept of circular industrial parks (CIPs), which extend the commonly acknowledged initial role of eco-industrial parks (EIPs) in waste management and energy efficiency. CIPs give a new perspective on EIPs literature by integrating circular business models (CBMs) related to broader aspects of the circular economy (CE), while promoting collaboration with local communities to enhance social, environmental, and economic outcomes. By applying the Sustainable Value Framework (SVF) and the UNIDO EIPs framework, this study provides a comprehensive analysis of how CIPs create value, the strategic stakes for practitioners and policy makers, and a roadmap for their development. The study concludes that CIPs have the potential to drive CE at the local level differently from traditional EIPs and provides actionable strategies for practitioners and policymakers to facilitate their success. They enable the clustering of businesses committed to CE and facilitate the development of new CBMs by providing space for collaboration, innovation, resilience and improved infrastructure for energy and resource use at costs that would be difficult to achieve independently. CIPs also increase the visibility of CBMs within their region and strengthen the role of CE by serving as local hubs for the distribution of resources and goods. This research contributes to the academic and practical understanding of CIPs and opens avenues for further exploration and field studies. While further field studies are needed, CIPs are seen as powerful catalysts for CE and industrial symbiosis. Environmental Economics Eco-industrial park Circular economy Industrial ecology Circular-industrial park Circular business models Industrial symbiosis Figures Figure 1 Figure 2 Figure 3 Figure 4 Figure 5 1. Introduction Industrial parks (IPs) play an important role in stimulating and planning economic and industrial development of a region or city (Liu et al., 2018 ). IPs not only act as input providers, but also as output triggers, contributing to the economic development of their surrounding areas (Zeng et al., 2021 ). Due to the negative impacts of IPs, planners decided to integrate sustainable elements into the development of IPs, resulting in what the literature refers to as eco-industrial parks (EIPs) (Le Tellier et al., 2022 ) However, despite the contribution of EIPs to sustainable development (SD) and industrial ecology (IE), bibliometric analyses show that the literature on EIPs essentially focuses on the issues of waste minimization and recycling (Yu et al., 2014a ) and byproducts exchanges and performance optimization (Barrera et al., 2021 ). In this sense, literature in EIPs addressed two important issues related to circular economy (CE) - reducing energy consumption and improving waste management (WM) prior it gained importance in the scientific and public debate. Nonetheless, recent scientific discussions on CE have broadened the concept by integrating new principles and strategies such as reduce, reuse and recycle, repair, and others (Morseletto, 2020 ). While research recognizes EIPs as valuable contributors to CE and IE (Ghisellini et al., 2016 ; Goyal et al., 2021 ), the focus has primarily been on WM and resource exchange. Exploring how EIPs could integrate other aspects of CE although relevant in terms of policymaking, scientific research and business strategy remains less explored. Indeed, the implementation of comprehensive circular business models (CBMs) encompassing as many aspects of CE as possible, while integrating collaboration with local communities corresponds to the need to integrate more CE into EIPs planning (Belaud et al., 2019 ; APEC, 2024 ). Such an evolution of EIPs is defined here under the term circular industrial parks (CIPs). We define CIPs as entities clustering manufacturing and service companies that apply circular business models (CBMs) and seek to improve social, environmental, and economic performance by collaborating in the management of environmental issues with local actors and communities. This definition differs from previous definitions of EIPs which included elements of CE for the purpose of reducing waste and energy consumption through improved exchange of resources and information following industrial symbiosis (IS) concept. Here, in addition to better managing inputs and outputs used, it is the development of a complete circular ecosystem through new BMs and collaborations with local economic agents which is ambitioned. This study consequently argues that CIPs, by going beyond the established perspective on EIPs, have the potential to significantly enhance economic, environmental, and social outcomes in their territories. It aims to determine the relevance of CIPs, the form they should take, and the optimal strategic and policy choices for their implementation. To this end, the CIP concept is analyzed using the Sustainable Value Framework (SVF) developed by Hart and Milstein ( 2003 ) and the Report of the United Nations Industrial Development Organization (UNIDO) on EIPs development (2021). The strategy adopted is to use academic literature for each component of the framework to build a comprehensive and scientific understanding of how value is created in such projects. Considering the results obtained, a roadmap for such projects is proposed. This study contributes to the literature in several ways. First it provides a comprehensive framework for understanding the value CIPs generate, both internally and externally and in the short and long term. Second, it helps general and academic publics to discuss scientifically and politically the future of such structures. Third, it shows how IPs might benefit from adapting their strategy to improve their local impact in line with CE evolution, and what would be the strategies, barriers, and drivers related. Finally, by offering recommendations and a roadmap for CIPs development, this paper provides meaningful insights for managers and public actors interested in such projects. The following sections of the paper are organized as follows. Section 2 presents the literature on CE and EIPs, explain CIPs concept and the gap it contributes to close in the literature. Section 3 explains the methodology used. Section 4 presents the results which consist of the value created by CIPs, and the associated strategies. Section 5 discuss the results and suggests a roadmap for CIPs development. Finally, Section 6 summarizes the study and proposes suggestions for further research. 2. Literature review The main concepts discussed in the paper are outlined in the present literature review. Its aim is to highlight the main features of the literature concerning CE, EIPs, the interaction between the two concepts, and to define CIPs and the gaps in academic knowledge related research could address. 2.1. Circular economy In recent years, the concept of the CE has garnered significant interest from academics, private, and public opinions. Given the overconsumption of resources and energy, along with the negative consequences of WM in traditional linear systems, the CE’s proposal to close the production and consumption loop presents a promising solution (Ellen MacArthur Foundation, 2023 ; Stahel, 2016 ). Benefits emanating from CE are economic, environmental and social. Economically, CE enhances competitiveness, reduces green barriers in international trade, and strengthens resource resilience (Heshmati, 2017 ). It also enhances resource efficiency and industrial productivity, resulting in lower production and disposal costs (Altenburg et al., 2017 ). Environmentally, CE tackles resource scarcity and mitigates the negative externalities of industrial activities (Heshmati, 2017 ; Homrich et al., 2018 ). However, social impacts remain less explored. Although CE holds potential for job creation and other positive social outcomes, this area remains under-researched, making difficult to draw conclusions (Altenburg et al., 2017 ; Atanasovska et al., 2022 ). CE is a multidisciplinary concept that increasingly includes a business management perspective (Camòn Luis and Celma, 2020; Dominko et al., 2023 ). Different but relatively similar CE concepts appear in the literature. CE may include strategies and BMs intended to slow down, close or narrow resource loops (Bocken et al., 2016), but also promote smarter product use and production, or extend product life and improve WM (Goyal et al., 2021 ). In addition, for other authors, dematerialization and better efficiency complete circular strategies (Geissdoerfer et al., 2020 ). Table 1 summarizes comprehensively the different strategies and targets enabling CE development. It presents a list of 10 target called “Rs” grouped in 3 strategies and illustrates thus that CE concept is truly holistic and paves the way to new and varied BMs going beyond recovery and recycling principles (Morseletto, 2020 ; Potting et al., 2017 ). Table 1 Circular economy strategies and targets Strategy “R” Target Description Smarter manufacturing and use of products R0 Refuse Refuse the use of a product by refusing its function or finding them in a radically different product R1 Rethink Increase the intensity of use of a product R2 Reduce Increase the efficiency of a product manufacturing in terms of resources consumed Longer lifespan of products and their components R3 Reuse Reuse for the same purpose of a product by another consumer R4 Repair Maintain a product ability to be used for its original purpose R5 Refurbish Update and restore an old product R6 Remanufacture Use components of a used product in a new product having the same purpose R7 Repurpose Use components of a used product in a new product having another purpose Better use of used products and materials R8 Recycle Product processing to obtain material with same or lower quality R9 Recovery Recovery of used materials to generate energy Source: personal elaboration, according to Morseletto ( 2020 ) 2.2. Eco-industrial parks EIPs are defined as clusters of manufacturing and service firms that collaborate to enhance both environmental and economic performance by jointly managing environmental and resource reuse issues; the underlying principle is that the collective benefits of such collaboration will surpass the sum of individual gains (Martin et al., 1996 ). EIPs aim to conserve natural and economic resources while reducing on the one hand production, material, energy, insurance and treatment costs, and on the other improving operational efficiency, quality, worker health and public image (Côté and Hall, 1995 ). Hence, EIPs are an important component of industrial strategy and improve effectively both environmental quality and competitiveness of the regions where they are implemented (Liu et al., 2018 ; Zeng et al., 2021 ). The literature has addressed various and manifold aspects related to EIPs. The main approach consists of environmental engineering and technology research on a specific technology, process, or product (Barrera et al., 2021 ; Li et al., 2020 ). First publications highlighted that EIPs can significantly contribute to IS and CE by facilitating the exchange of materials, water, energy, and by-products between companies (Côté and Hall, 1995 ). Subsequently, methods like life cycle assessment (LCA) and material flow analysis (MFA) were used to compare the inputs and outputs used and identify opportunities for environmental improvement (Belaud et al., 2019 ). Recent contributions discuss new concepts such as the applications of smart technologies and Industry 4.0 which involve the use of data and digitalization and could overcome management shortcomings and make better use of resources at lower costs (e.g., Barrera et al., 2021 ; Tseng et al., 2018 ). In addition, studies have emerged on political and governance stakes associated with EIPs development. The transformation of existing IPs into EIPs or the creation of new structures involve either bottom-up or top-down approaches, often responding to local projects rather than being anchored in a national strategy (Susur et al., 2019 ). According to Yu et al. ( 2015 ), in the European Union, indirect policies and incentives, as opposed to direct obligations, positively influence EIPs development and reassure stakeholders. At the level of governance of EIPs, the development of IS in EIPs needs to be carefully designed. The diversity of enterprises, and the presence of industrial producers and decomposers play an important role (Liwarska-Bizukojc et al., 2009 ). Firms clustering is often driven by the economic and environmental benefits and the opportunities offered to save costs, improve competitiveness or human resources, access new technologies, and share information (Yedla and Park, 2017 ). 2.3. Circular economy within eco-industrial parks Scholars acknowledge that EIPs are a noteworthy tool to achieve SD and CE and a legitimate question of research (Wenbo, 2011 ; Zhao et al., 2017 ). EIPs contribute to the effective implementation of CE by applying IE and IS principles while proposing practical solutions to close the material and energy loops, making them economically attractive to reduce the environmental impacts of economic production (Castiglione and Alfieri, 2019 ) Moreover, EIPs appear as an effective policy tool for CE development as they address the important need of CE for collaboration and technical and BM innovation (Baldassarre et al., 2019 ) and contribute to the necessary greening of supply chains while promoting competitiveness (Homrich et al., 2018 ; World Bank, 2021 ) Common CE applications in EIPs are shown in Fig. 1 , which is inspired by academic papers that discuss the link between CE and EIPs using the example of referenced EIPs such as Ulsan or Kalundborg (e.g., Diemer and Dierickx, 2022; World Bank, 2021 ). The exchanges in such schemes are between firms within the EIPs, where waste and byproducts from one firm’s activities are used in the activities of another firm, and between the EIPs and the surrounding municipalities through the treatment of wastewater, energy, and urban waste. In return, EIPs provide cities with energy, heat, or can contribute to clean water. EIPs’ companies will interact with local companies by providing resources for their operations, such as fertilizers, biogas, or rare earths and other materials from treated urban waste. The results and nature of the exchanges will depend on the activities of firms located in EIPs and BMs of firms hosted. Consequently, EIPs effectively address CE strategies aimed at recovering waste, energy and resources and reducing their consumption by improving exchanges between EIPs’ firms and their surroundings. However, to the best of our knowledge, very few studies have investigated how EIPs address other key issues related to other aspects of CE. Those would consist of maximizing the intensity of product use, remanufacturing, refurbishment, and others. Such a complementary view gives a different perspective on the interplay between CE, EIPs and IS and suggests a new form of EIPs specifically dedicated to the development of new CBMs and IS development through other dimensions of CE. 2.4. The emerging development of CIPs and the need to close a gap CIPs are defined here as entities that specifically aim to play the role of a platform for the development of CBMs in a region. Although the concept has not been conceptualized in the academic literature, it appears, as not exhaustively summarized in Table 2 , that some structures aiming to pursue a such objective are already developing around the world (Schotel, 2016 ). Table 2 Overview of circular industrial parks and their objectives Name (foundation) Location, (Country) Stated objectives Number of firms Type of organization Ecopole (2023) Alle, (Switzerland) Stimulate the sharing of human resources, technical infrastructure and know-how Provide space for the development of sustainable and CE BMs Offer space for innovation in the generation of energies from waste 18 Private Devens Eco-Industrial Park (1993) Devens, Massachussets (USA) Develop collaborations such as shared facilities or eco-efficient infrastructure Encourage local SD and symbiotic relationship between local companies through material, information, or services flows between industrial, public, educational or commercial entities 30–40 Public Park 20|20 (2010) Hoofddorp (Netherland) Provide eco-efficient and circular spaces for firms with sustainable objectives Help firms to develop their sustainability 9 Private Source: personal elaboration CIPs functioning and interactions are summarized in Fig. 2 which can be compared with Fig. 1 . The common point among those structures is to gather and give space to BMs specifically devoted to CE and sustainable practices and go beyond the exchange of energy, waste, and resource flows between neighboring municipalities and enterprises within the park. The aim of CIPs is to build a whole ecosystem between local households and society that enables the development of new CBMs and projects. They thus respond to the need for new CBMs as well as a systemic perspective shift in manufacturing activities (Bjørnbet et al., 2021 ). Furthermore, they favor new CBMs that contribute to offering an alternative to linear practices (Kirchherr et al., 2018 ) and to intensifying urban mining. In a way, they correspond to the new challenges that EIPs will have to face, as discussed in a conference organized by the Asia-Pacific Economic Cooperation Forum in 2023 (APEC, 2024 ). Therefore, the authors consider CIPs as a variant of classical EIPs with their own stakes and contribution to CE and define them as follows: CIPs are a cluster of manufacturing and service companies in a single location, that apply CBMs, and seek to improve social, environmental and economic performance by collaborating in the management of environmental issues with local actors and communities. Defining the value CIPs bring to local environments, along with the key strategies driving their development, introduces a new area of research in the literature. Furthermore, promoting the establishment of CIPs could foster the creation of more sustainable and efficient industrial ecosystems. It would not only enhance environmental performance but also offer regions a valuable policy tool to improve resilience and generate new employment opportunities. 3. Research methodology The research methodology is summarized in Fig. 3 . To assess the sustainable value generated by CIPs, we first apply the SVF developed by Hart and Milstein ( 2003 ). This widely used approach considers the value created by an entity for its shareholders and stakeholders across spatial (internal and external) and temporal (short-term and long-term) dimensions. The SVF is structured as a framework comprising four quadrants, each representing related strategies, drivers, and key functions that a company needs to address to create value (Ramsarup et al., 2017 ). The SVF thus serves as a valuable tool for understanding how business strategies can yield positive outcomes for society while ensuring a firm’s economic performance (Cardoni et al., 2020 ; Hart and Milstein, 2003 ). It offers a holistic approach that integrates economic, social, and environmental dimensions of sustainability into every aspect of a company's activities and strategies. In this study, the SVF will effectively frame both internal and external strategies over the short and long term while clearly identifying the created value and its drivers. To adapt the SVF to the realities of CIPs and identify the most appropriate performance requirements within each quadrant, we utilized the UNIDO EIPs Management Report (2021) in a second step. This report provides a set of best practices and performance criteria to enhance EIPs management, contributing to the identification of critical aspects that influence EIPs performance and offering insights for tailored policies or strategies. We assume that using the UNIDO report is a legitimate method for identifying the value creation of CIPs since as seen in section 2 , CIPs share some similarities in terms of functioning and ambitions. Once strategies and values have been organized through the SVF and identified via the EIPs framework, a third step involves deepening the exploration of strategy and value creation challenges through an academic literature review to build a comprehensive and scientific understanding of each quadrant. A narrative review was conducted for this purpose. Finally, in the fourth step, the findings are synthesized, and a strategic roadmap is proposed to guide the development of CIPs. This structured approach ensures a comprehensive understanding of the issues and provides a robust and holistic framework for evaluating and enhancing the sustainable value generated by CIPs. 4. Results The methodology defined in Section 3 leads to the framework presented in Fig. 4 , which outlines the value creation, strategies, and drivers within the context of CIPs. The next four subsections explore each quadrant of the SVF, integrating relevant academic literature to analyze the strategies, values, and drivers that shape CIPs’ value creation. 4.1.1 Internal and now The lower left quadrant of Fig. 4 outlines strategies is presented in Table 3 which displays strategies, values, and drivers associated with CIPs internal dynamics in the present and near future. Table 3 Internal and now CIPs’ strategy, values and drivers Strategy Value created Drivers Eco-efficiency of infrastructure Risk and cost reduction Positive environmental impact Benefit for CIPs’ residents Pollution and waste issues CE development Regulatory framework Cost Industry needs for sustainable process and inputs Internal communication on CIPs’ development Better motivation and support from employees Improved shareholder value Stakeholders need of understanding organizational transformation Lack of shareholders support for transition Source: personal elaboration In this quadrant, the main internal strategy focuses on the role of CIPs as input providers offering eco-efficient infrastructures. It highlights their considerable potential to generate environmental and economic value by helping companies to meet their eco-efficient infrastructure needs, and optimizing energy, resource and waste flows to improve their sustainability and operational efficiency. The significant reduction in energy consumption and the optimization of internal resource flows enable CIPs to maximize their performance and value creation, aligning with the foundational principles of CE and LCA (Belaud et al., 2019 ; Xie et al., 2022). Furthermore, this optimization provides a marketing advantage to attracts new activities sensitive both to the environmental performance of their production processes and their costs, and risks (Gibbs and Deutz, 2005 ). It also increases the potential to maximize the value of various wastes or by-products generated from economic activities (Ghisellini et al., 2016 ). Eco-efficient infrastructure represents a strategy, necessitating the involvement of internal teams and resources for planning, financing, and supervising implementation. Such strategy benefit from integrated performance maps that include environmental components to addresses the energy challenges faced by CIPs but also increases site visibility and competitiveness in industrial markets (De Benedetto and Klemeš, 2009 ; Son et al., 2023 ). Monitoring environmental performance is an essential aspect of an internal eco-efficiency strategy, as it helps to improve management practices (Griffith and Bhutto, 2009 ; Huang et al., 2019 ) while improving the site's image for stakeholders and potential tenants. Drivers for the diffusion of CIPs include the advancement of CE principles and the growing emphasis on pollution and waste recovery by businesses, which see such infrastructure as a mean to improve their economic competitiveness and engage in projects with broader holistic value (Gibbs and Deutz, 2005 ; Yu et al., 2014b ). The regulatory framework also plays another pivotal function by shaping and supporting the transition through various incentives and mandates (Uusikartano et al., 2021 ; Yu et al., 2015 ). The role of CIPs management is therefore to respond to market developments to meet the needs of current and future tenants, while utilizing economic incentives to facilitate the transition. The second internal strategy focuses on effectively managing communication around CIPs development. While managers may have a clear understanding of sustainable strategies, misunderstandings can still arise among shareholders, employees or other internal stakeholders (Roome and Louche, 2016 ). Such miscommunication can undermine management's efforts, requiring additional time and energy to clarify new objectives and persuade employees to embrace new principles, as well as support the transition costs involved (UNIDO, 2021 ). These challenges are often encountered in CE projects due to a lack of knowledge regarding complex issues and a hesitant organizational culture (Cantú et al., 2021 ; Kirchherr et al., 2018 ). Therefore, fostering a supportive culture within a CIP is critical for its success. Employees, who link various projects on-site, are essential in transmitting the circular culture and engaging personnel to maintain this culture while raising awareness of its benefits, as exemplified by the Izmir Ataturk Organized Industrial Zone (UNIDO, 2021 ). Identifying challenges and opportunities, while describing the change process and its benefits, lays the basis for enhancing value creation (Waddel, 2005). Improving internal communication through workshops, training programs, and dialogue can significantly boost employee engagement, efficiency, and revenue. Additionally, prioritizing shareholder communication can enhance their satisfaction with the sustainable commitments of EIPs (Afshari et al., 2018 ) and contribute to increase shareholder value. 4.1.2 External and now The second quadrant, outlined in Table 4 , summarizes the external and short-term values and strategies linked to CIPs development. The first two strategies address key challenges that CIPs must overcome to successfully integrate into their environment, while the third focuses on their role in relation to residents. Table 4 External and now CIPs’ strategy, values and drivers Strategy Value created Drivers Align with local economic and sustainable policies Achievement of civil society objectives and policies Environmental and social positive outcomes Revenue/subjective and political support Improved positioning in EIPs environment and market Economic and sustainable policies Societal pressure Regulatory requirements Integrate CIPs in local economic, environmental and social life IS development New products and services to the community CE development and spread of its benefit Civil society demand Support tenants in their environmental, social and economic performance Reduction of local waste and energy consumption Optimized IS Local jobs and income creation Competition between EIP Tenants pressure Source: personal elaboration The first strategy concerns CIPs' positioning in relation to economic and sustainability objectives set by decision-makers. An analogy can be drawn here with EIPs, which are seen as a tool for reducing the environmental footprint of economic activity while creating jobs (e.g., Gibbs and Deutz, 2005 ; Zeng et al., 2021 ). Since circular policies are ultimately the result of political and public expectations (de Melo et al., 2022 ; Petit-Boix and Leipold, 2018 ), CIPs can contribute to meet societal aspirations to develop a sustainable society. Similarly, stricter regulatory policies or voluntary certification can encourage firms to locate in CIPs (Daddi et al., 2016 ) and consolidate their positive positioning in the market of renting business spaces. Regulation, however, can be either a driver or a barrier, depending on how it is designed and implemented by public authorities. Poorly designed regulations may fail to promote CIPs effectively or create competitive disadvantages (UNIDO, 2021 ). This is especially challenging for smaller or newer parks that may lack the expertise to navigate complex regulatory landscapes (Botelho et al., 2008). Here, the role of the board and professionals is necessary in addressing the regulatory framework. It includes developing guidelines that ensure regulatory compliance and even exceed national or internation standards when possible (UNIDO, 2021 ). A second element of CIPs’ strategy is their integration into the local economic, environmental, and social life. CIPs should serve as catalysts for local IS, establishing broader connections with their regions compared to traditional EIPs by engaging in economic activities that emphasize local consumption and various CE applications. A primary role of CIPs is to function as hubs for CE and IS at the local level. For instance, the Ecopole CIP in Switzerland highlights the significance of distributed local collection and recovery centers as pivotal for advancing CE and fostering social engagement (Canton du Jura, 2022 ). Given that CIPs aim to encompass all forms of CE activities, their tenants can help close local resource loops and green supply chains, while also offering innovative products and services to the surrounding communities. Moreover, implementing an EIP in a region creates a link between the park’s waste, energy, and resource flows and those of the surrounding area, supporting the development of regional IS (Castiglione et al., 2019). Numerous EIPs have demonstrated their ability to contribute to local energy production and resource recycling (e.g., Afshari et al., 2018 ; Gibbs and Deutz, 2007), suggesting that CIPs could similarly offer significant added value to their regions. Regarding the economic and social implementation, literature indicates that developing CE initiatives at the local level can lead to increased employment in specific sectors and provide social benefits through reduced costs of products and services (e.g., Kumar et al., 2019 ; Wijkman and Skånberg, 2015 ). The emergence of new BMs in refurbishment, remanufacturing, and innovative recycling methods could generate significant economic and social value by creating jobs in secondary sectors or for individuals with skills that have become less valued with the digitalization of the economy. As noted by UNIDO ( 2021 ), engaging in dialogue with local communities plays a crucial role in enhancing the social performance of CIPs and integrating them locally. CIPs can implement various initiatives to foster community engagement and maintain a permanent dialogue with stakeholders. As a result, the businesses within the parks will benefit from a better public understanding of CE. Consequently, the local implementation strategy should be truly holistic, facilitating the development of a true ecosystem that benefits from the different values that those new CBMs can generate. Nevertheless, as third strategy, CIPs should consider how, as a hosting structure, they can contribute to the multidisciplinary development of their tenants. This can be achieved by fostering the creation of long-term, sustainable jobs (UNIDO, 2021 ). In addition, CIPs can enhance tenants' environmental performance by enabling them to benefit from internal flow optimization strategies, as well as from the processes and technologies outlined in Section 4.1.1 . This directly addresses a significant challenge for small and medium-sized enterprises (SMEs), which contribute substantially to environmental pollution (Dey et al., 2022 ). Furthermore, the synergies and collaboration between different BMs create additional economic and social value. Indeed, by improving management and economic performance, helping companies to navigate early-stage challenges, and facilitating knowledge sharing and new BMs development, it improves local revenues, employment and resilience. 4.1.3 Internal and tomorrow The upper left quadrant of Fig. 4 highlights how CIPs can sustain competitive advantage and create long-term value in an ever-evolving landscape. To do so, strategists and scholars emphasize the importance of reinventing processes, BMs, and products to respond to emerging needs and drive new disruptive and sustainable technologies and business practices (Geissdoerfer et al., 2018 ; Mitchell and Coles, 2003 ). For meso-level structures such as CIPs, these pressures may differ from those faced by micro-level companies, which face strong competition and specific challenges in their supply chain or innovation processes. However, as Table 5 shows, there are still strategic issues for CIPs to maintain and create value in the long term. These strategies include preserving CIPs as high-value environmental hubs through the conservation of eco-efficient infrastructure, while reinventing itself in the changing context of sustainability to attract new tenants and ensure long-term success. Table 5 Internal and tomorrow CIPs’ strategy, values and drivers Strategy Value created Drivers Continuous innovation and optimization of eco-efficient processes Environmental innovation CIPs’ image and positioning Cost and risk reduction Environmental performance Resources and energy costs and requirements Updating of CIPs’ strategies and culture according to sustainability concepts evolution CE and IS improved performance Economic performance Development of local economic resilience New markets and industries Competition between industrial precincts Evolution of CBMs and IS Source: personal elaboration Given the significant energy and waste consumption, environmental challenges, and the associated costs and requirements of production activities, CIPs are well-positioned to drive long-term innovation and address environmental issues through IS. Ongoing maintenance of these projects not only supports environmental innovation and performance but also contributes to economic gains by reducing costs and risks. Furthermore, by cultivating a more sustainable and positive image, CIPs can attract new tenants, thereby strengthening their long-term viability and competitive advantage. Developing new sustainable and circular solutions can be achieved by leveraging the park’s resources in the innovation process or through collaborations with research institutions (Patnaik and Poyyamoli, 2015 ). Over time, this approach will not only improve energy efficiency and WM within CIPs but also reinforce their role in enhancing the sustainable performance of their stakeholders. Furthermore, the case of the Turku EIP illustrates how clusters promoting CE are driven by academic research and innovation (Sitra, 2020 ). Developing such initiatives with an adapted level of technological intensity can lead to the generation of new CBMs that yield positive outcomes via beneficial spillover effects. Ultimately, by fostering innovation among stakeholders, CIPs can achieve significant environmental performance while ensuring long-term financial viability through the fees and revenues generated on-site. Another crucial point is to maintain the long-term attractiveness of the site in the competitive market of industrial districts. In fact, CIPs are at the very end of a specific BM as such. Whether they are lucrative or not, they still must attract and retain companies to be viable through the fees they charge or the funding they receive. To do this, CIPs will have to constantly develop specific strategies to reinvent their BM and adapt it to the evolving issues concerning sustainability and CE development, but also to changing market conditions. This management also requires efforts from the executive board and the marketing team to attract desired tenants (Roberts, 2004 ). Developing appropriate projects and strategies, as well as communicating with decision makers and the local community, requires a long-term commitment. It will help to attract new businesses and gives opportunity to organize the precincts to create a unique value proposition that will allow it to be competitive and generate revenues. In addition, achieving strong management performance will also have a positive impact on the value created in the region, attracting external investment and offering social and environmental benefits with the emergence of new BMs that have decided to locate in a place that responds to their needs. 4.1.4 External and tomorrow External and long-term strategies consist of actions that CIPs should develop to meet the challenges faced by their stakeholders and create positive external value through their operations. These strategies ensure long-term performance that benefits for both stakeholders and CIPs' tenants. As shown in Table 6 , the aim is to foster innovation among local occupiers encouraging the development of new products, services, and processes that meet societal and environmental needs while delivering long-term performance. Additionally, these strategies strengthen CIPs' long-term participation in local IS and improve external communication, solidifying their role as key players for local stakeholders and maximizing the overall benefits created. Table 6 External and tomorrow CIPs’ strategy, values and drivers Strategy Value created Drivers Knowledge and innovation development of tenants Development of CE and new CBMs Increase of job employment and local economy Role of firms incubator CE evolving BMs Local tenants’ needs Local demand for CE Contribute to innovation and IS optimization Environmental innovation Benefit for local environment Regulatory evolutions IS evolution Communication and branding management Better reputation and support from stakeholder Better interactions with local community which improve CIPs effects on local IS Necessity to showcase their role in CE and sustainability Need for understanding from stakeholder Competition between precincts Source: personal elaboration Long-term value generation should align with local societal and economic aspirations (Kramer and Porter, 2011 ; Savitz, 2013 ). The public's growing interest in circular products influences the evolving needs of the CE players. By implementing strategies that promote innovation and long-term development within the precinct, CIPs can contribute to both local economic growth and environmental sustainability by generating local jobs and income, supplying new products and services to local markets, and fostering greater IS (Gibbs and Deutz, 2005 ). This strategy can take several complementary forms. One key aspect is to address the challenges related to the development of IS and technological advancements (Lambert and Boons, 2002 ). This goal can by facilitating collaboration among tenants (Lambert and Boons, 2002 ) or developing trainings (Yu et al., 2014b ; Zhu et al., 2015 ). Other options consist of partnerships with research institutions (Sitra, 2020 ; Patnaik and Poyyamoli, 2015 ) and the creation of dedicated innovation spaces for companies that may lack the resources to innovate alone. Innovation strategies must consider the specific needs of local tenants since CBMs can significantly vary from one tenant to another. Even for tenants using the same level of technology, CBMs may differ in terms of the knowledge and tools they require or how their operations are organized. Balancing these diverse CBMs presents a challenge, but as seen in mixed IPs, this diversity can enhance resilience, foster broader value creation, and facilitate the exchange of varied inputs (Lambert and Boons, 2002 ; Liwarska-Bizukojc et al., 2016). Moreover, a continuous pursuit of long-term improvement and innovation in IS can position CIPs at the forefront of local IS development. Over time, CIPs can create significant environmental value by integrating into surrounding ecosystems, thereby reducing local energy consumption, lowering greenhouse gas emissions, and sustaining long-term innovation and optimization in energy and WM processes. When combined with updated monitoring systems, as recommended by UNIDO ( 2021 ), this strategy proves to be highly effective in driving sustained environmental and economic performance. Finally, managing the reputation and role of CIPs in CE and IS will help build a strong brand and reputation that attracts business, investors, and public support, while improving practices and interactions with stakeholders. A first aspect is maintaining trust in CIPs' activities. This imply ensuring transparency by sharing clear information about their performance, initiatives, and innovations and developing a strong branding strategy and unique selling proposition that highlights CIPs’ positive impact and sustainable commitment. The second challenge is to communicate effectively with stakeholders and the public to enhance and maximize interactions between CIPs and their communities. Engaging the local population is crucial, as their involvement and consumption patterns significantly contribute to the economic success of tenants while helping to mitigate the negative impacts of linear consumption. To achieve this, CIPs should identify and cultivate strong relationships with their stakeholders to secure economic and political support, foster long-term engagement, and understand their needs and expectations (Uusikartano et al., 2021 ). Additionally, CIPs should position themselves as landmarks and hubs for the local CE by promoting practices that encourage circular behaviors. By encouraging these connections, CIPs can strengthen community ties and advance sustainable practices within local areas. 5. Discussion Based on the insights gained from the review of CIPs' strategies and value creation, this section examines the main axes and challenges for CIPs development and proposes a roadmap and recommendations accordingly. 5.1. Key axis and main challenges Overall, CIP strategies align with three main axes, starting with short-term measures to establish CIPs, followed by a long-term commitment to sustain their value creation and competitive advantage over time. These axes respond to the following targets: Integrating CIPs in local ecosystems; Improving CIPs environmental efficiency; Contribution to CBMs performance. These targets must transversally integrate five essential elements: 1) understanding the local environment, 2) communication, 3) innovation, 4) monitoring and 5) management. Together, these components will support the development of a healthy IS tailored to the local context while being viable. However, to genuinely enhance the precinct's overall performance, practitioners must go beyond surface-level efforts, ensuring deep integration and sustained commitment (Graham et al., 2022). The first target involves a comprehensive approach from the organization's board to ensure that CIPs are effectively integrated into local economy. Given the diversity of stakeholders and interests involved in such a transition, a clear understanding of the local environment is essential for identifying and leveraging both opportunities and challenges (Svensson et al., 2016). Additionally, stakeholders, policymakers, and the broader public should be convinced of the CIPs' crucial role in advancing sustainability in the region. The goal is for CIPs to become key facilitators in green economy growth by fostering strong connections between economic actors, including tenants and the local community. In doing so, CIPs will contribute significantly to the region’s social and economic well-being, as well as to the development of a local IS. The second target focuses on enhancing CIPs' environmental efficiency by developing high-performance material flows, WM processes, and energy-efficient infrastructures, while incorporating them into local ecosystem. This will enable CIPs to provide eco-efficient infrastructure that enhances their own and tenants' performance, but also this of the local society. Such developments require specialized technological expertise and innovative approaches to ensure successful implementation. Furthermore, monitoring tools and integrated management systems must be in place from the first stages and continuously updated over time to optimize the environmental, economic, and social outcomes (Griffith and Bhutto, 2009). Where internal resources are insufficient, engineering consultants can offer valuable guidance during this process. Additionally, partnerships with research institutes could be beneficial, as CIPs might serve as ideal locations for such research and experimentation. Another major challenge concerns financial constraints. While many technologies for improving resource efficiency and management are already available, adapting them to local conditions and securing subsidies can pose significant obstacles to their implementation. These obstacles can be overcome by aligning CIPs’ strategies with local policies and projects to gain support from relevant stakeholders. Additionally, careful planning is essential to identify the most impactful aspects of CIPs and to balance costs and outcomes, ensuring that each option is the most effective. The final target is to develop a compelling strategy that attracts tenants and enable them to contribute to the SD of the local society and ensure CIPs long-term viability. A comprehensive analysis of local circularity needs to be carried out, as each region has its own ecosystem and challenges. The focus should also be on how tenants can collaborate and add value locally. Based on this analysis, the board should establish selection criteria for potential tenants and develop a marketing strategy to position the CIPs as attractive locations for businesses looking to thrive in the CE. To facilitate tenants economic, environmental, and social performance, the support provided should consist of facilitating communication between tenants and with the local community. Moreover, measures to foster innovation, knowledge sharing as well as to reduce operative costs of tenants will play an important not only in the economic viability of residents, but also in the value they will be able to create. 5.2. Roadmap and recommendations Initial planning is important as it plays an important role in EIPs economic and sustainable performance (Son et al., 2023). Consequently, the different values and strategies related to CIPs highlighted, it becomes possible to draw up a general roadmap for similar projects. While this roadmap is developed from the perspective of CIPs’ boards, policymakers can also use these insights to design policies that support the development of CIPs or the integration of some of their specificities into EIPs policies. Figure 5: Roadmap for CIPs development As illustrated in Figure 5, the roadmap integrates the three previously mentioned targets by developing both transversal and specific projects. To achieve these goals, the strategy is built around four axes: focusing on the policy and regulatory framework, managing relationships with stakeholders, establishing a comprehensive strategy for residents, and greening the infrastructure. All these tasks can be performed using internal resources or external expertise. In addition, public authorities might ease the process by developing appropriate instruments such as economic incentives, environmental standards, resource utilization schemes, or planning advice to reduce the risks and positively influence CIPs strategic positioning (e.g., Uusikartano et al., 2021; Yu et al., 2015). In the initial stages of CIP development, the primary focus is on establishing a clear vision that outlines the environmental, social, and economic objectives, and aligns with regional and national sustainability strategies. The board should also understand and secure the commitment of local stakeholders and assess the feasibility of the project by analyzing local demand, potential tenant, infrastructure needs, regulatory and policy frameworks, and financial viability. By the end of this phase, the operational team should have a vision and framework that details the park's operational model, including energy, waste, and resource exchange strategies, as well as criteria for tenant selection, and ultimately, how the project will generate value. The focus should be on creating sustainable infrastructure that promotes resource and energy efficiency, prioritizing the use of renewable sources. Additionally, a network for waste and resource exchange can be established to enhance IS and reduce the negative impacts of resource consumption and waste generation. The final steps of this phase involve setting green standards for tenant facilities and establishing a comprehensive monitoring system to track environmental, social, and economic performance. The third and fourth stages consist of implementing and operating CIPs strategy developed in previous stages. The center point is the recruitment of tenants aligning CIPs environmental and economic goals. The management of park operations, tenant coordination, and monitoring should be implemented and run in a way seeking continuous performance over time. Finally, maintaining cooperation and communication with the local community on projects contributing to local CE and IS must not be neglected. 6. Concluding remarks This analysis contributes to academic knowledge by presenting how CIPs are a new variation of IPs, highlighting both positive outcomes they bring to their environment, and the key issues involved in their development. By drawing on existing insights from EIPs, value creation, strategic planning, and policy, this research brings fresh on how CE can be developed through specifically dedicated IPs and how the clustering of CBMs is an effective way to maximize the benefits CE can bring. Certain limitations can be acknowledged. A first limitation is the lack of literature specific to CIPs, as this study is among the first to explore such emerging structure. This gap has been addressed by reviewing literature on closely related concept of EIPs, but future research would benefit from field studies that provide a more comprehensive understanding of CIPs. Another limitation is that the quantification of the value created may be lacking. In the future, following the development of CIPs, researchers will have the promising opportunity to quantitatively evaluate the various strategies associated with CIPs development and refine the best practices suggested in this paper. Nevertheless, this study provides a first comprehensive overview of value created by CIPs and has already practical applications. This seminal description of CIPs highlights their potential as critical drivers for CE development and value creation at the local level. By favoring the clustering of SMEs applying CBMs in a single location CIPs favor their cooperation, innovation and resilience. SMEs benefit thus from shared infrastructure, especially in areas like energy efficiency and resource management, which would be unaffordable if pursued independently. CIPs also increase CBMs visibility and CE role by positioning themselves as a local hub for the collection and distribution of resources and goods resulting from circular strategies. Consequently, while field studies should further refine these findings, these first analysis suggests that already CIPs could act as powerful catalysts for CE and IS in their regions. Although CIPs' development may vary according to local contexts, some key elements can be generalized. First integrating CIPs into local ecosystem is crucial. For practitioners, this means establishing valuable links with local stakeholders to connect CIPs with local projects, entities, and communities. Policymakers could support it by promoting CE and IS at the local level and supporting local actors. Second enhancing CIPs’ infrastructure and operations to reduce the environmental footprint of production activities or local communities is crucial. Moreover, governmental support and participation in innovative projects led by research institutes can also help to maximize environmental performance. Finally, ensuring that CIPs contribute to the performance of their tenants, will improve their viability and create economic and environmental spillovers for the region. Several barriers to CIP development stand out. It appears that low interest in CE in a region can hinder the development of CBMs and, ultimately, CIPs ambitions. The same applies to weak regional CE networks, given that CIPs embedment in local environment. In addition, the lack of policy instruments and regulatory incentives can slow CE development, or raise the costs associated to CIPs. Finally, misalignment between tenants selection, infrastructure development, and local needs can threaten long-term site viability. To overcome these challenges, CIP management should focus on five key elements: understanding the local environment, developing an effective communication strategy, fostering innovation, implement monitoring system, and adopt an adapted managerial approach. These elements will enable CIPs to assess their potential, design appropriate strategies, and maintain long-term value creation. The roadmap proposed offers companies or public authorities an initial overview of the steps required to develop such projects, and how best tailoring actions to local conditions. Statements and Declarations The author reports there are no competing interests to declare. References Afshari, H., Farel, R., & Peng, Q. (2018). Challenges of value creation in Eco-Industrial Parks (EIPs): A stakeholder perspective for optimizing energy exchanges. 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coussa","email":"data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAZAAAAAyAQMAAABI0h/eAAAABlBMVEX///8AAABVwtN+AAAACXBIWXMAAA7EAAAOxAGVKw4bAAABAklEQVRIiWNgGAWjYDACdjDJjBDgB+IDFUDCAJcWZnQtkg1ALWdI0mJwAEjg08LfzHxM4ucO63x+BuaHj3n+1Mkb38g9eODgHgZ5cxxaJA6zJRv2nkm3nNnAZmzM23bYcNuNvIQDB54xGO5swKHnMI/hA6BKA4MDPGzSvA0HGLfdyDE4/OEAQwLYhViA/GH+Dwf/ArXYg7QAHWa/eUaOwYEDeLQYHOZhfAy2hQGkhY05cYMEAS2Gh4FekG1LNwB6ythwbtvh5Bln3oC0SBhuwKFF7njzM8m3bdYG/O3NDx+8+VNn29+eY/zhwAEbeVy2IAAzKleCkPpRMApGwSgYBXgAAODIXOaomX4JAAAAAElFTkSuQmCC","orcid":"https://orcid.org/0000-0003-1845-672X","institution":"university of Fribourg","correspondingAuthor":true,"prefix":"","firstName":"Alexandre","middleName":"","lastName":"coussa","suffix":""}],"badges":[],"createdAt":"2024-12-06 20:32:03","currentVersionCode":1,"declarations":{"humanSubjects":false,"vertebrateSubjects":false,"conflictsOfInterestStatement":false,"humanSubjectEthicalGuidelines":false,"humanSubjectConsent":false,"humanSubjectClinicalTrial":false,"humanSubjectCaseReport":false,"vertebrateSubjectEthicalGuidelines":false},"doi":"10.21203/rs.3.rs-5595940/v1","doiUrl":"https://doi.org/10.21203/rs.3.rs-5595940/v1","draftVersion":[],"editorialEvents":[],"editorialNote":"","failedWorkflow":false,"files":[{"id":70902264,"identity":"8922f6bd-26a4-462a-81f3-4e2476c744ac","added_by":"auto","created_at":"2024-12-09 06:03:18","extension":"png","order_by":1,"title":"Figure 1","display":"","copyAsset":false,"role":"figure","size":85589,"visible":true,"origin":"","legend":"\u003cp\u003eSchematization of EIPs IS taking the example of Kalundborg EIP\u003c/p\u003e\n\u003cp\u003eSource: personal elaboration\u003c/p\u003e","description":"","filename":"1.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/f0c0fe75bdd8e685c162c261.png"},{"id":70902265,"identity":"35189eb8-1461-4b21-811c-da510bbf9def","added_by":"auto","created_at":"2024-12-09 06:03:18","extension":"png","order_by":2,"title":"Figure 2","display":"","copyAsset":false,"role":"figure","size":112226,"visible":true,"origin":"","legend":"\u003cp\u003eschematization of CIPs\u003c/p\u003e\n\u003cp\u003eSource: personal elaboration\u003c/p\u003e","description":"","filename":"2.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/d887968895073279661de283.png"},{"id":70902272,"identity":"1a6c6827-63d5-4f27-b9e1-b4bbe7f72c97","added_by":"auto","created_at":"2024-12-09 06:03:19","extension":"png","order_by":3,"title":"Figure 3","display":"","copyAsset":false,"role":"figure","size":164431,"visible":true,"origin":"","legend":"\u003cp\u003eGraphical design of research methodology\u003c/p\u003e\n\u003cp\u003eSource: Personal elaboration\u003c/p\u003e","description":"","filename":"3.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/3daf8d13facbf350d192c52b.png"},{"id":70902266,"identity":"299630b5-980d-4453-908c-9af53f14a4f5","added_by":"auto","created_at":"2024-12-09 06:03:18","extension":"png","order_by":4,"title":"Figure 4","display":"","copyAsset":false,"role":"figure","size":535415,"visible":true,"origin":"","legend":"\u003cp\u003eSustainable value framework for circular industrial parks\u003c/p\u003e","description":"","filename":"4.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/70e1cd22cb483583a900b232.png"},{"id":70902268,"identity":"d1b4e83a-ae1f-4a60-b4c2-1c3524fdfe53","added_by":"auto","created_at":"2024-12-09 06:03:18","extension":"png","order_by":5,"title":"Figure 5","display":"","copyAsset":false,"role":"figure","size":498154,"visible":true,"origin":"","legend":"\u003cp\u003eRoadmap for CIPs development\u003c/p\u003e","description":"","filename":"5.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/9745e23a9e6d42ad179e1d5a.png"},{"id":70905369,"identity":"151dd547-ce3b-4bc8-b4e2-f70a973fc07a","added_by":"auto","created_at":"2024-12-09 06:27:19","extension":"pdf","order_by":0,"title":"","display":"","copyAsset":false,"role":"manuscript-pdf","size":2084746,"visible":true,"origin":"","legend":"","description":"","filename":"manuscript.pdf","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/ca166dbf-2e55-4b70-aa5c-e0b25539244f.pdf"},{"id":70903661,"identity":"8619d604-cf81-48b3-9757-636befbc0c60","added_by":"auto","created_at":"2024-12-09 06:11:18","extension":"png","order_by":1,"title":"","display":"","copyAsset":false,"role":"supplement","size":109072,"visible":true,"origin":"","legend":"","description":"","filename":"GraphicalAbstract.png","url":"https://assets-eu.researchsquare.com/files/rs-5595940/v1/e33b8be678170fc74b19bf2b.png"}],"financialInterests":"The authors declare no competing interests.","formattedTitle":"\u003cp\u003eFrom eco-industrial parks to circular-industrial parks: developing new industrial parks for new business models\u003c/p\u003e","fulltext":[{"header":"1. Introduction","content":"\u003cp\u003eIndustrial parks (IPs) play an important role in stimulating and planning economic and industrial development of a region or city (Liu et al., \u003cspan citationid=\"CR39\" class=\"CitationRef\"\u003e2018\u003c/span\u003e). IPs not only act as input providers, but also as output triggers, contributing to the economic development of their surrounding areas (Zeng et al., \u003cspan citationid=\"CR69\" class=\"CitationRef\"\u003e2021\u003c/span\u003e). Due to the negative impacts of IPs, planners decided to integrate sustainable elements into the development of IPs, resulting in what the literature refers to as eco-industrial parks (EIPs) (Le Tellier et al., \u003cspan citationid=\"CR37\" class=\"CitationRef\"\u003e2022\u003c/span\u003e)\u003c/p\u003e \u003cp\u003eHowever, despite the contribution of EIPs to sustainable development (SD) and industrial ecology (IE), bibliometric analyses show that the literature on EIPs essentially focuses on the issues of waste minimization and recycling (Yu et al., \u003cspan citationid=\"CR66\" class=\"CitationRef\"\u003e2014a\u003c/span\u003e) and byproducts exchanges and performance optimization (Barrera et al., \u003cspan citationid=\"CR6\" class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eIn this sense, literature in EIPs addressed two important issues related to circular economy (CE) - reducing energy consumption and improving waste management (WM) prior it gained importance in the scientific and public debate. Nonetheless, recent scientific discussions on CE have broadened the concept by integrating new principles and strategies such as reduce, reuse and recycle, repair, and others (Morseletto, \u003cspan citationid=\"CR43\" class=\"CitationRef\"\u003e2020\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eWhile research recognizes EIPs as valuable contributors to CE and IE (Ghisellini et al., \u003cspan citationid=\"CR24\" class=\"CitationRef\"\u003e2016\u003c/span\u003e; Goyal et al., \u003cspan citationid=\"CR26\" class=\"CitationRef\"\u003e2021\u003c/span\u003e), the focus has primarily been on WM and resource exchange. Exploring how EIPs could integrate other aspects of CE although relevant in terms of policymaking, scientific research and business strategy remains less explored. Indeed, the implementation of comprehensive circular business models (CBMs) encompassing as many aspects of CE as possible, while integrating collaboration with local communities corresponds to the need to integrate more CE into EIPs planning (Belaud et al., \u003cspan citationid=\"CR7\" class=\"CitationRef\"\u003e2019\u003c/span\u003e; APEC, \u003cspan citationid=\"CR3\" class=\"CitationRef\"\u003e2024\u003c/span\u003e). Such an evolution of EIPs is defined here under the term circular industrial parks (CIPs).\u003c/p\u003e \u003cp\u003eWe define CIPs as entities clustering manufacturing and service companies that apply circular business models (CBMs) and seek to improve social, environmental, and economic performance by collaborating in the management of environmental issues with local actors and communities. This definition differs from previous definitions of EIPs which included elements of CE for the purpose of reducing waste and energy consumption through improved exchange of resources and information following industrial symbiosis (IS) concept. Here, in addition to better managing inputs and outputs used, it is the development of a complete circular ecosystem through new BMs and collaborations with local economic agents which is ambitioned.\u003c/p\u003e \u003cp\u003eThis study consequently argues that CIPs, by going beyond the established perspective on EIPs, have the potential to significantly enhance economic, environmental, and social outcomes in their territories. It aims to determine the relevance of CIPs, the form they should take, and the optimal strategic and policy choices for their implementation. To this end, the CIP concept is analyzed using the Sustainable Value Framework (SVF) developed by Hart and Milstein (\u003cspan citationid=\"CR29\" class=\"CitationRef\"\u003e2003\u003c/span\u003e) and the Report of the United Nations Industrial Development Organization (UNIDO) on EIPs development (2021). The strategy adopted is to use academic literature for each component of the framework to build a comprehensive and scientific understanding of how value is created in such projects. Considering the results obtained, a roadmap for such projects is proposed.\u003c/p\u003e \u003cp\u003eThis study contributes to the literature in several ways. First it provides a comprehensive framework for understanding the value CIPs generate, both internally and externally and in the short and long term. Second, it helps general and academic publics to discuss scientifically and politically the future of such structures. Third, it shows how IPs might benefit from adapting their strategy to improve their local impact in line with CE evolution, and what would be the strategies, barriers, and drivers related. Finally, by offering recommendations and a roadmap for CIPs development, this paper provides meaningful insights for managers and public actors interested in such projects.\u003c/p\u003e \u003cp\u003eThe following sections of the paper are organized as follows. Section \u003cspan refid=\"Sec2\" class=\"InternalRef\"\u003e2\u003c/span\u003e presents the literature on CE and EIPs, explain CIPs concept and the gap it contributes to close in the literature. Section \u003cspan refid=\"Sec7\" class=\"InternalRef\"\u003e3\u003c/span\u003e explains the methodology used. Section \u003cspan refid=\"Sec8\" class=\"InternalRef\"\u003e4\u003c/span\u003e presents the results which consist of the value created by CIPs, and the associated strategies. Section \u003cspan refid=\"Sec13\" class=\"InternalRef\"\u003e5\u003c/span\u003e discuss the results and suggests a roadmap for CIPs development. Finally, Section \u003cspan refid=\"Sec16\" class=\"InternalRef\"\u003e6\u003c/span\u003e summarizes the study and proposes suggestions for further research.\u003c/p\u003e"},{"header":"2. Literature review","content":"\u003cp\u003eThe main concepts discussed in the paper are outlined in the present literature review. Its aim is to highlight the main features of the literature concerning CE, EIPs, the interaction between the two concepts, and to define CIPs and the gaps in academic knowledge related research could address.\u003c/p\u003e\n\u003cdiv id=\"Sec3\" class=\"Section2\"\u003e\n \u003ch2\u003e2.1. Circular economy\u003c/h2\u003e\n \u003cp\u003eIn recent years, the concept of the CE has garnered significant interest from academics, private, and public opinions. Given the overconsumption of resources and energy, along with the negative consequences of WM in traditional linear systems, the CE\u0026rsquo;s proposal to close the production and consumption loop presents a promising solution (Ellen MacArthur Foundation, \u003cspan class=\"CitationRef\"\u003e2023\u003c/span\u003e; Stahel, \u003cspan class=\"CitationRef\"\u003e2016\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eBenefits emanating from CE are economic, environmental and social. Economically, CE enhances competitiveness, reduces green barriers in international trade, and strengthens resource resilience (Heshmati, \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e). It also enhances resource efficiency and industrial productivity, resulting in lower production and disposal costs (Altenburg et al., \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e). Environmentally, CE tackles resource scarcity and mitigates the negative externalities of industrial activities (Heshmati, \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e; Homrich et al., \u003cspan class=\"CitationRef\"\u003e2018\u003c/span\u003e). However, social impacts remain less explored. Although CE holds potential for job creation and other positive social outcomes, this area remains under-researched, making difficult to draw conclusions (Altenburg et al., \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e; Atanasovska et al., \u003cspan class=\"CitationRef\"\u003e2022\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eCE is a multidisciplinary concept that increasingly includes a business management perspective (Cam\u0026ograve;n Luis and Celma, 2020; Dominko et al., \u003cspan class=\"CitationRef\"\u003e2023\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eDifferent but relatively similar CE concepts appear in the literature. CE may include strategies and BMs intended to slow down, close or narrow resource loops (Bocken et al., 2016), but also promote smarter product use and production, or extend product life and improve WM (Goyal et al., \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e). In addition, for other authors, dematerialization and better efficiency complete circular strategies (Geissdoerfer et al., \u003cspan class=\"CitationRef\"\u003e2020\u003c/span\u003e). Table \u003cspan class=\"InternalRef\"\u003e1\u003c/span\u003e summarizes comprehensively the different strategies and targets enabling CE development. It presents a list of 10 target called \u0026ldquo;Rs\u0026rdquo; grouped in 3 strategies and illustrates thus that CE concept is truly holistic and paves the way to new and varied BMs going beyond recovery and recycling principles (Morseletto, \u003cspan class=\"CitationRef\"\u003e2020\u003c/span\u003e; Potting et al.,\u0026nbsp;\u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e).\u003c/p\u003e\n \u003cdiv class=\"gridtable\"\u003e\u0026nbsp;\u003ctable id=\"Tab1\" border=\"1\"\u003e\n \u003ccaption language=\"En\"\u003e\n \u003cdiv class=\"CaptionNumber\"\u003eTable 1\u003c/div\u003e\n \u003cdiv class=\"CaptionContent\"\u003e\n \u003cp\u003eCircular economy strategies and targets\u003c/p\u003e\n \u003c/div\u003e\n \u003c/caption\u003e\n \u003ccolgroup cols=\"4\"\u003e\u003c/colgroup\u003e\n \u003cthead\u003e\n \u003ctr\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eStrategy\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003e\u0026ldquo;R\u0026rdquo;\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eTarget\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eDescription\u003c/p\u003e\n \u003c/th\u003e\n \u003c/tr\u003e\n \u003c/thead\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\" rowspan=\"3\"\u003e\n \u003cp\u003eSmarter manufacturing and use of products\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR0\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRefuse\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRefuse the use of a product by refusing its function or finding them in a radically different product\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR1\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRethink\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eIncrease the intensity of use of a product\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR2\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eReduce\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eIncrease the efficiency of a product manufacturing in terms of resources consumed\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\" rowspan=\"5\"\u003e\n \u003cp\u003eLonger lifespan of products and their components\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR3\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eReuse\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eReuse for the same purpose of a product by another consumer\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR4\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRepair\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eMaintain a product ability to be used for its original purpose\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR5\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRefurbish\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eUpdate and restore an old product\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR6\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRemanufacture\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eUse components of a used product in a new product having the same purpose\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR7\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRepurpose\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eUse components of a used product in a new product having another purpose\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\" rowspan=\"2\"\u003e\n \u003cp\u003eBetter use of used products and materials\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR8\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRecycle\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eProduct processing to obtain material with same or lower quality\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eR9\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRecovery\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eRecovery of used materials to generate energy\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003ctfoot\u003e\n \u003ctr\u003e\n \u003ctd colspan=\"4\"\u003eSource: personal elaboration, according to Morseletto (\u003cspan class=\"CitationRef\"\u003e2020\u003c/span\u003e)\u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tfoot\u003e\n \u003c/table\u003e\n \u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv id=\"Sec4\" class=\"Section2\"\u003e\n \u003ch2\u003e2.2. Eco-industrial parks\u003c/h2\u003e\n \u003cp\u003eEIPs are defined as clusters of manufacturing and service firms that collaborate to enhance both environmental and economic performance by jointly managing environmental and resource reuse issues; the underlying principle is that the collective benefits of such collaboration will surpass the sum of individual gains (Martin et al., \u003cspan class=\"CitationRef\"\u003e1996\u003c/span\u003e). EIPs aim to conserve natural and economic resources while reducing on the one hand production, material, energy, insurance and treatment costs, and on the other improving operational efficiency, quality, worker health and public image (C\u0026ocirc;t\u0026eacute; and Hall, \u003cspan class=\"CitationRef\"\u003e1995\u003c/span\u003e). Hence, EIPs are an important component of industrial strategy and improve effectively both environmental quality and competitiveness of the regions where they are implemented (Liu et al., \u003cspan class=\"CitationRef\"\u003e2018\u003c/span\u003e; Zeng et al., \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eThe literature has addressed various and manifold aspects related to EIPs. The main approach consists of environmental engineering and technology research on a specific technology, process, or product (Barrera et al., \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e; Li et al., \u003cspan class=\"CitationRef\"\u003e2020\u003c/span\u003e). First publications highlighted that EIPs can significantly contribute to IS and CE by facilitating the exchange of materials, water, energy, and by-products between companies (C\u0026ocirc;t\u0026eacute; and Hall, \u003cspan class=\"CitationRef\"\u003e1995\u003c/span\u003e). Subsequently, methods like life cycle assessment (LCA) and material flow analysis (MFA) were used to compare the inputs and outputs used and identify opportunities for environmental improvement (Belaud et al., \u003cspan class=\"CitationRef\"\u003e2019\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eRecent contributions discuss new concepts such as the applications of smart technologies and Industry 4.0 which involve the use of data and digitalization and could overcome management shortcomings and make better use of resources at lower costs (e.g., Barrera et al., \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e; Tseng et al., \u003cspan class=\"CitationRef\"\u003e2018\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eIn addition, studies have emerged on political and governance stakes associated with EIPs development. The transformation of existing IPs into EIPs or the creation of new structures involve either bottom-up or top-down approaches, often responding to local projects rather than being anchored in a national strategy (Susur et al., \u003cspan class=\"CitationRef\"\u003e2019\u003c/span\u003e). According to Yu et al. (\u003cspan class=\"CitationRef\"\u003e2015\u003c/span\u003e), in the European Union, indirect policies and incentives, as opposed to direct obligations, positively influence EIPs development and reassure stakeholders.\u003c/p\u003e\n \u003cp\u003eAt the level of governance of EIPs, the development of IS in EIPs needs to be carefully designed. The diversity of enterprises, and the presence of industrial producers and decomposers play an important role (Liwarska-Bizukojc et al., \u003cspan class=\"CitationRef\"\u003e2009\u003c/span\u003e). Firms clustering is often driven by the economic and environmental benefits and the opportunities offered to save costs, improve competitiveness or human resources, access new technologies, and share information (Yedla and Park, \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e).\u003c/p\u003e\n\u003c/div\u003e\n\u003cdiv id=\"Sec5\" class=\"Section2\"\u003e\n \u003ch2\u003e2.3. Circular economy within eco-industrial parks\u003c/h2\u003e\n \u003cp\u003eScholars acknowledge that EIPs are a noteworthy tool to achieve SD and CE and a legitimate question of research (Wenbo, \u003cspan class=\"CitationRef\"\u003e2011\u003c/span\u003e; Zhao et al., \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e). EIPs contribute to the effective implementation of CE by applying IE and IS principles while proposing practical solutions to close the material and energy loops, making them economically attractive to reduce the environmental impacts of economic production (Castiglione and Alfieri, \u003cspan class=\"CitationRef\"\u003e2019\u003c/span\u003e) Moreover, EIPs appear as an effective policy tool for CE development as they address the important need of CE for collaboration and technical and BM innovation (Baldassarre et al., \u003cspan class=\"CitationRef\"\u003e2019\u003c/span\u003e) and contribute to the necessary greening of supply chains while promoting competitiveness (Homrich et al., \u003cspan class=\"CitationRef\"\u003e2018\u003c/span\u003e; World Bank, \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e)\u003c/p\u003e\n \u003cp\u003eCommon CE applications in EIPs are shown in Fig. \u003cspan class=\"InternalRef\"\u003e1\u003c/span\u003e, which is inspired by academic papers that discuss the link between CE and EIPs using the example of referenced EIPs such as Ulsan or Kalundborg (e.g., Diemer and Dierickx, 2022; World Bank, \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eThe exchanges in such schemes are between firms within the EIPs, where waste and byproducts from one firm\u0026rsquo;s activities are used in the activities of another firm, and between the EIPs and the surrounding municipalities through the treatment of wastewater, energy, and urban waste. In return, EIPs provide cities with energy, heat, or can contribute to clean water. EIPs\u0026rsquo; companies will interact with local companies by providing resources for their operations, such as fertilizers, biogas, or rare earths and other materials from treated urban waste. The results and nature of the exchanges will depend on the activities of firms located in EIPs and BMs of firms hosted.\u003c/p\u003e\n \u003cp\u003eConsequently, EIPs effectively address CE strategies aimed at recovering waste, energy and resources and reducing their consumption by improving exchanges between EIPs\u0026rsquo; firms and their surroundings. However, to the best of our knowledge, very few studies have investigated how EIPs address other key issues related to other aspects of CE. Those would consist of maximizing the intensity of product use, remanufacturing, refurbishment, and others. Such a complementary view gives a different perspective on the interplay between CE, EIPs and IS and suggests a new form of EIPs specifically dedicated to the development of new CBMs and IS development through other dimensions of CE.\u003c/p\u003e\n\u003c/div\u003e\n\u003cdiv id=\"Sec6\" class=\"Section2\"\u003e\n \u003ch2\u003e2.4. The emerging development of CIPs and the need to close a gap\u003c/h2\u003e\n \u003cp\u003eCIPs are defined here as entities that specifically aim to play the role of a platform for the development of CBMs in a region. Although the concept has not been conceptualized in the academic literature, it appears, as not exhaustively summarized in Table \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e, that some structures aiming to pursue a such objective are already developing around the world (Schotel,\u0026nbsp;\u003cspan class=\"CitationRef\"\u003e2016\u003c/span\u003e).\u003c/p\u003e\n \u003cdiv class=\"gridtable\"\u003e\u0026nbsp;\u003ctable id=\"Tab2\" border=\"1\"\u003e\n \u003ccaption language=\"En\"\u003e\n \u003cdiv class=\"CaptionNumber\"\u003eTable 2\u003c/div\u003e\n \u003cdiv class=\"CaptionContent\"\u003e\n \u003cp\u003eOverview of circular industrial parks and their objectives\u003c/p\u003e\n \u003c/div\u003e\n \u003c/caption\u003e\n \u003ccolgroup cols=\"5\"\u003e\u003c/colgroup\u003e\n \u003cthead\u003e\n \u003ctr\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eName\u003c/p\u003e\n \u003cp\u003e(foundation)\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eLocation,\u003c/p\u003e\n \u003cp\u003e(Country)\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eStated objectives\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eNumber of firms\u003c/p\u003e\n \u003c/th\u003e\n \u003cth align=\"left\"\u003e\n \u003cp\u003eType of organization\u003c/p\u003e\n \u003c/th\u003e\n \u003c/tr\u003e\n \u003c/thead\u003e\n \u003ctbody\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eEcopole\u003c/p\u003e\n \u003cp\u003e(2023)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eAlle,\u003c/p\u003e\n \u003cp\u003e(Switzerland)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eStimulate the sharing of human resources, technical infrastructure and know-how\u003c/p\u003e\n \u003cp\u003eProvide space for the development of sustainable and CE BMs\u003c/p\u003e\n \u003cp\u003eOffer space for innovation in the generation of energies from waste\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e18\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003ePrivate\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eDevens Eco-Industrial Park\u003c/p\u003e\n \u003cp\u003e(1993)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eDevens, Massachussets\u003c/p\u003e\n \u003cp\u003e(USA)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eDevelop collaborations such as shared facilities or eco-efficient infrastructure\u003c/p\u003e\n \u003cp\u003eEncourage local SD and symbiotic relationship between local companies through material, information, or services flows between industrial, public, educational or commercial entities\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e30\u0026ndash;40\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003ePublic\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003ctr\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003ePark 20|20\u003c/p\u003e\n \u003cp\u003e(2010)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eHoofddorp\u003c/p\u003e\n \u003cp\u003e(Netherland)\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003eProvide eco-efficient and circular spaces for firms with sustainable objectives\u003c/p\u003e\n \u003cp\u003eHelp firms to develop their sustainability\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003e9\u003c/p\u003e\n \u003c/td\u003e\n \u003ctd align=\"left\"\u003e\n \u003cp\u003ePrivate\u003c/p\u003e\n \u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tbody\u003e\n \u003ctfoot\u003e\n \u003ctr\u003e\n \u003ctd colspan=\"5\"\u003eSource: personal elaboration\u003c/td\u003e\n \u003c/tr\u003e\n \u003c/tfoot\u003e\n \u003c/table\u003e\n \u003c/div\u003e\n \u003cp\u003eCIPs functioning and interactions are summarized in Fig. \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e which can be compared with Fig. \u003cspan class=\"InternalRef\"\u003e1\u003c/span\u003e. The common point among those structures is to gather and give space to BMs specifically devoted to CE and sustainable practices and go beyond the exchange of energy, waste, and resource flows between neighboring municipalities and enterprises within the park.\u003c/p\u003e\n \u003cp\u003eThe aim of CIPs is to build a whole ecosystem between local households and society that enables the development of new CBMs and projects. They thus respond to the need for new CBMs as well as a systemic perspective shift in manufacturing activities (Bj\u0026oslash;rnbet et al., \u003cspan class=\"CitationRef\"\u003e2021\u003c/span\u003e). Furthermore, they favor new CBMs that contribute to offering an alternative to linear practices (Kirchherr et al., \u003cspan class=\"CitationRef\"\u003e2018\u003c/span\u003e) and to intensifying urban mining. In a way, they correspond to the new challenges that EIPs will have to face, as discussed in a conference organized by the Asia-Pacific Economic Cooperation Forum in 2023 (APEC, \u003cspan class=\"CitationRef\"\u003e2024\u003c/span\u003e).\u003c/p\u003e\n \u003cp\u003eTherefore, the authors consider CIPs as a variant of classical EIPs with their own stakes and contribution to CE and define them as follows: \u003cem\u003eCIPs are a cluster of manufacturing and service companies in a single location, that apply CBMs, and seek to improve social, environmental and economic performance by collaborating in the management of environmental issues with local actors and communities.\u003c/em\u003e\u003c/p\u003e\n \u003cp\u003eDefining the value CIPs bring to local environments, along with the key strategies driving their development, introduces a new area of research in the literature. Furthermore, promoting the establishment of CIPs could foster the creation of more sustainable and efficient industrial ecosystems. It would not only enhance environmental performance but also offer regions a valuable policy tool to improve resilience and generate new employment opportunities.\u003c/p\u003e\n\u003c/div\u003e"},{"header":"3. Research methodology","content":"\u003cp\u003eThe research methodology is summarized in Fig. \u003cspan class=\"InternalRef\"\u003e3\u003c/span\u003e. To assess the sustainable value generated by CIPs, we first apply the SVF developed by Hart and Milstein (\u003cspan class=\"CitationRef\"\u003e2003\u003c/span\u003e). This widely used approach considers the value created by an entity for its shareholders and stakeholders across spatial (internal and external) and temporal (short-term and long-term) dimensions. The SVF is structured as a framework comprising four quadrants, each representing related strategies, drivers, and key functions that a company needs to address to create value (Ramsarup et al., \u003cspan class=\"CitationRef\"\u003e2017\u003c/span\u003e).\u003c/p\u003e\n\u003cp\u003eThe SVF thus serves as a valuable tool for understanding how business strategies can yield positive outcomes for society while ensuring a firm\u0026rsquo;s economic performance (Cardoni et al., \u003cspan class=\"CitationRef\"\u003e2020\u003c/span\u003e; Hart and Milstein, \u003cspan class=\"CitationRef\"\u003e2003\u003c/span\u003e). It offers a holistic approach that integrates economic, social, and environmental dimensions of sustainability into every aspect of a company\u0026apos;s activities and strategies. In this study, the SVF will effectively frame both internal and external strategies over the short and long term while clearly identifying the created value and its drivers.\u003c/p\u003e\n\u003cp\u003eTo adapt the SVF to the realities of CIPs and identify the most appropriate performance requirements within each quadrant, we utilized the UNIDO EIPs Management Report (2021) in a second step. This report provides a set of best practices and performance criteria to enhance EIPs management, contributing to the identification of critical aspects that influence EIPs performance and offering insights for tailored policies or strategies. We assume that using the UNIDO report is a legitimate method for identifying the value creation of CIPs since as seen in section \u003cspan class=\"InternalRef\"\u003e2\u003c/span\u003e, CIPs share some similarities in terms of functioning and ambitions.\u003c/p\u003e\n\u003cp\u003eOnce strategies and values have been organized through the SVF and identified via the EIPs framework, a third step involves deepening the exploration of strategy and value creation challenges through an academic literature review to build a comprehensive and scientific understanding of each quadrant. A narrative review was conducted for this purpose. Finally, in the fourth step, the findings are synthesized, and a strategic roadmap is proposed to guide the development of CIPs.\u003c/p\u003e\n\u003cp\u003eThis structured approach ensures a comprehensive understanding of the issues and provides a robust and holistic framework for evaluating and enhancing the sustainable value generated by CIPs.\u003c/p\u003e"},{"header":"4. Results","content":"\u003cp\u003eThe methodology defined in Section \u003cspan refid=\"Sec7\" class=\"InternalRef\"\u003e3\u003c/span\u003e leads to the framework presented in Fig.\u0026nbsp;\u003cspan refid=\"Fig4\" class=\"InternalRef\"\u003e4\u003c/span\u003e, which outlines the value creation, strategies, and drivers within the context of CIPs. The next four subsections explore each quadrant of the SVF, integrating relevant academic literature to analyze the strategies, values, and drivers that shape CIPs\u0026rsquo; value creation.\u003c/p\u003e \u003cp\u003e \u003c/p\u003e \u003cdiv id=\"Sec9\" class=\"Section2\"\u003e \u003ch2\u003e4.1.1 Internal and now\u003c/h2\u003e \u003cp\u003eThe lower left quadrant of Fig.\u0026nbsp;\u003cspan refid=\"Fig4\" class=\"InternalRef\"\u003e4\u003c/span\u003e outlines strategies is presented in Table\u0026nbsp;\u003cspan refid=\"Tab3\" class=\"InternalRef\"\u003e3\u003c/span\u003e which displays strategies, values, and drivers associated with CIPs internal dynamics in the present and near future.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab3\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 3\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eInternal and now CIPs\u0026rsquo; strategy, values and drivers\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"3\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eStrategy\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eValue created\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003eDrivers\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eEco-efficiency of infrastructure\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eRisk and cost reduction\u003c/p\u003e \u003cp\u003ePositive environmental impact\u003c/p\u003e \u003cp\u003eBenefit for CIPs\u0026rsquo; residents\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003ePollution and waste issues\u003c/p\u003e \u003cp\u003eCE development\u003c/p\u003e \u003cp\u003eRegulatory framework\u003c/p\u003e \u003cp\u003eCost\u003c/p\u003e \u003cp\u003eIndustry needs for sustainable process and inputs\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eInternal communication on CIPs\u0026rsquo; development\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eBetter motivation and support from employees\u003c/p\u003e \u003cp\u003eImproved shareholder value\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eStakeholders need of understanding organizational transformation\u003c/p\u003e \u003cp\u003eLack of shareholders support for transition\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"3\"\u003eSource: personal elaboration\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eIn this quadrant, the main internal strategy focuses on the role of CIPs as input providers offering eco-efficient infrastructures. It highlights their considerable potential to generate environmental and economic value by helping companies to meet their eco-efficient infrastructure needs, and optimizing energy, resource and waste flows to improve their sustainability and operational efficiency.\u003c/p\u003e \u003cp\u003eThe significant reduction in energy consumption and the optimization of internal resource flows enable CIPs to maximize their performance and value creation, aligning with the foundational principles of CE and LCA (Belaud et al., \u003cspan citationid=\"CR7\" class=\"CitationRef\"\u003e2019\u003c/span\u003e; Xie et al., 2022). Furthermore, this optimization provides a marketing advantage to attracts new activities sensitive both to the environmental performance of their production processes and their costs, and risks (Gibbs and Deutz, \u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e2005\u003c/span\u003e). It also increases the potential to maximize the value of various wastes or by-products generated from economic activities (Ghisellini et al., \u003cspan citationid=\"CR24\" class=\"CitationRef\"\u003e2016\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eEco-efficient infrastructure represents a strategy, necessitating the involvement of internal teams and resources for planning, financing, and supervising implementation. Such strategy benefit from integrated performance maps that include environmental components to addresses the energy challenges faced by CIPs but also increases site visibility and competitiveness in industrial markets (De Benedetto and Klemeš, \u003cspan citationid=\"CR17\" class=\"CitationRef\"\u003e2009\u003c/span\u003e; Son et al., \u003cspan citationid=\"CR53\" class=\"CitationRef\"\u003e2023\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eMonitoring environmental performance is an essential aspect of an internal eco-efficiency strategy, as it helps to improve management practices (Griffith and Bhutto, \u003cspan citationid=\"CR28\" class=\"CitationRef\"\u003e2009\u003c/span\u003e; Huang et al., \u003cspan citationid=\"CR32\" class=\"CitationRef\"\u003e2019\u003c/span\u003e) while improving the site's image for stakeholders and potential tenants.\u003c/p\u003e \u003cp\u003eDrivers for the diffusion of CIPs include the advancement of CE principles and the growing emphasis on pollution and waste recovery by businesses, which see such infrastructure as a mean to improve their economic competitiveness and engage in projects with broader holistic value (Gibbs and Deutz, \u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e2005\u003c/span\u003e; Yu et al., \u003cspan citationid=\"CR67\" class=\"CitationRef\"\u003e2014b\u003c/span\u003e). The regulatory framework also plays another pivotal function by shaping and supporting the transition through various incentives and mandates (Uusikartano et al., \u003cspan citationid=\"CR59\" class=\"CitationRef\"\u003e2021\u003c/span\u003e; Yu et al., \u003cspan citationid=\"CR68\" class=\"CitationRef\"\u003e2015\u003c/span\u003e). The role of CIPs management is therefore to respond to market developments to meet the needs of current and future tenants, while utilizing economic incentives to facilitate the transition.\u003c/p\u003e \u003cp\u003eThe second internal strategy focuses on effectively managing communication around CIPs development. While managers may have a clear understanding of sustainable strategies, misunderstandings can still arise among shareholders, employees or other internal stakeholders (Roome and Louche, \u003cspan citationid=\"CR49\" class=\"CitationRef\"\u003e2016\u003c/span\u003e). Such miscommunication can undermine management's efforts, requiring additional time and energy to clarify new objectives and persuade employees to embrace new principles, as well as support the transition costs involved (UNIDO, \u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eThese challenges are often encountered in CE projects due to a lack of knowledge regarding complex issues and a hesitant organizational culture (Cant\u0026uacute; et al., \u003cspan citationid=\"CR11\" class=\"CitationRef\"\u003e2021\u003c/span\u003e; Kirchherr et al., \u003cspan citationid=\"CR33\" class=\"CitationRef\"\u003e2018\u003c/span\u003e). Therefore, fostering a supportive culture within a CIP is critical for its success. Employees, who link various projects on-site, are essential in transmitting the circular culture and engaging personnel to maintain this culture while raising awareness of its benefits, as exemplified by the Izmir Ataturk Organized Industrial Zone (UNIDO, \u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eIdentifying challenges and opportunities, while describing the change process and its benefits, lays the basis for enhancing value creation (Waddel, 2005). Improving internal communication through workshops, training programs, and dialogue can significantly boost employee engagement, efficiency, and revenue. Additionally, prioritizing shareholder communication can enhance their satisfaction with the sustainable commitments of EIPs (Afshari et al., \u003cspan citationid=\"CR1\" class=\"CitationRef\"\u003e2018\u003c/span\u003e) and contribute to increase shareholder value.\u003c/p\u003e \u003cdiv id=\"Sec10\" class=\"Section3\"\u003e \u003ch2\u003e4.1.2 External and now\u003c/h2\u003e \u003cp\u003eThe second quadrant, outlined in Table\u0026nbsp;\u003cspan refid=\"Tab4\" class=\"InternalRef\"\u003e4\u003c/span\u003e, summarizes the external and short-term values and strategies linked to CIPs development. The first two strategies address key challenges that CIPs must overcome to successfully integrate into their environment, while the third focuses on their role in relation to residents.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab4\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 4\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eExternal and now CIPs\u0026rsquo; strategy, values and drivers\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"3\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eStrategy\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eValue created\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003eDrivers\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eAlign with local economic and sustainable policies\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eAchievement of civil society objectives and policies\u003c/p\u003e \u003cp\u003eEnvironmental and social positive outcomes\u003c/p\u003e \u003cp\u003eRevenue/subjective and political support\u003c/p\u003e \u003cp\u003eImproved positioning in EIPs environment and market\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eEconomic and sustainable policies\u003c/p\u003e \u003cp\u003eSocietal pressure\u003c/p\u003e \u003cp\u003eRegulatory requirements\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eIntegrate CIPs in local economic, environmental and social life\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eIS development\u003c/p\u003e \u003cp\u003eNew products and services to the community\u003c/p\u003e \u003cp\u003eCE development and spread of its benefit\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eCivil society demand\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eSupport tenants in their environmental, social and economic performance\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eReduction of local waste and energy consumption\u003c/p\u003e \u003cp\u003eOptimized IS\u003c/p\u003e \u003cp\u003eLocal jobs and income creation\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eCompetition between EIP\u003c/p\u003e \u003cp\u003eTenants pressure\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"3\"\u003eSource: personal elaboration\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eThe first strategy concerns CIPs' positioning in relation to economic and sustainability objectives set by decision-makers. An analogy can be drawn here with EIPs, which are seen as a tool for reducing the environmental footprint of economic activity while creating jobs (e.g., Gibbs and Deutz, \u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e2005\u003c/span\u003e; Zeng et al., \u003cspan citationid=\"CR69\" class=\"CitationRef\"\u003e2021\u003c/span\u003e). Since circular policies are ultimately the result of political and public expectations (de Melo et al., \u003cspan citationid=\"CR18\" class=\"CitationRef\"\u003e2022\u003c/span\u003e; Petit-Boix and Leipold, \u003cspan citationid=\"CR45\" class=\"CitationRef\"\u003e2018\u003c/span\u003e), CIPs can contribute to meet societal aspirations to develop a sustainable society. Similarly, stricter regulatory policies or voluntary certification can encourage firms to locate in CIPs (Daddi et al., \u003cspan citationid=\"CR16\" class=\"CitationRef\"\u003e2016\u003c/span\u003e) and consolidate their positive positioning in the market of renting business spaces.\u003c/p\u003e \u003cp\u003eRegulation, however, can be either a driver or a barrier, depending on how it is designed and implemented by public authorities. Poorly designed regulations may fail to promote CIPs effectively or create competitive disadvantages (UNIDO, \u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e). This is especially challenging for smaller or newer parks that may lack the expertise to navigate complex regulatory landscapes (Botelho et al., 2008). Here, the role of the board and professionals is necessary in addressing the regulatory framework. It includes developing guidelines that ensure regulatory compliance and even exceed national or internation standards when possible (UNIDO, \u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eA second element of CIPs\u0026rsquo; strategy is their integration into the local economic, environmental, and social life. CIPs should serve as catalysts for local IS, establishing broader connections with their regions compared to traditional EIPs by engaging in economic activities that emphasize local consumption and various CE applications.\u003c/p\u003e \u003cp\u003eA primary role of CIPs is to function as hubs for CE and IS at the local level. For instance, the Ecopole CIP in Switzerland highlights the significance of distributed local collection and recovery centers as pivotal for advancing CE and fostering social engagement (Canton du Jura, \u003cspan citationid=\"CR10\" class=\"CitationRef\"\u003e2022\u003c/span\u003e). Given that CIPs aim to encompass all forms of CE activities, their tenants can help close local resource loops and green supply chains, while also offering innovative products and services to the surrounding communities.\u003c/p\u003e \u003cp\u003eMoreover, implementing an EIP in a region creates a link between the park\u0026rsquo;s waste, energy, and resource flows and those of the surrounding area, supporting the development of regional IS (Castiglione et al., 2019). Numerous EIPs have demonstrated their ability to contribute to local energy production and resource recycling (e.g., Afshari et al., \u003cspan citationid=\"CR1\" class=\"CitationRef\"\u003e2018\u003c/span\u003e; Gibbs and Deutz, 2007), suggesting that CIPs could similarly offer significant added value to their regions.\u003c/p\u003e \u003cp\u003eRegarding the economic and social implementation, literature indicates that developing CE initiatives at the local level can lead to increased employment in specific sectors and provide social benefits through reduced costs of products and services (e.g., Kumar et al., \u003cspan citationid=\"CR35\" class=\"CitationRef\"\u003e2019\u003c/span\u003e; Wijkman and Sk\u0026aring;nberg, \u003cspan citationid=\"CR62\" class=\"CitationRef\"\u003e2015\u003c/span\u003e). The emergence of new BMs in refurbishment, remanufacturing, and innovative recycling methods could generate significant economic and social value by creating jobs in secondary sectors or for individuals with skills that have become less valued with the digitalization of the economy.\u003c/p\u003e \u003cp\u003eAs noted by UNIDO (\u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e), engaging in dialogue with local communities plays a crucial role in enhancing the social performance of CIPs and integrating them locally. CIPs can implement various initiatives to foster community engagement and maintain a permanent dialogue with stakeholders. As a result, the businesses within the parks will benefit from a better public understanding of CE. Consequently, the local implementation strategy should be truly holistic, facilitating the development of a true ecosystem that benefits from the different values that those new CBMs can generate.\u003c/p\u003e \u003cp\u003eNevertheless, as third strategy, CIPs should consider how, as a hosting structure, they can contribute to the multidisciplinary development of their tenants. This can be achieved by fostering the creation of long-term, sustainable jobs (UNIDO, \u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eIn addition, CIPs can enhance tenants' environmental performance by enabling them to benefit from internal flow optimization strategies, as well as from the processes and technologies outlined in Section \u003cspan refid=\"Sec9\" class=\"InternalRef\"\u003e4.1.1\u003c/span\u003e. This directly addresses a significant challenge for small and medium-sized enterprises (SMEs), which contribute substantially to environmental pollution (Dey et al., \u003cspan citationid=\"CR19\" class=\"CitationRef\"\u003e2022\u003c/span\u003e). Furthermore, the synergies and collaboration between different BMs create additional economic and social value. Indeed, by improving management and economic performance, helping companies to navigate early-stage challenges, and facilitating knowledge sharing and new BMs development, it improves local revenues, employment and resilience.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec11\" class=\"Section3\"\u003e \u003ch2\u003e4.1.3 Internal and tomorrow\u003c/h2\u003e \u003cp\u003eThe upper left quadrant of Fig.\u0026nbsp;\u003cspan refid=\"Fig4\" class=\"InternalRef\"\u003e4\u003c/span\u003e highlights how CIPs can sustain competitive advantage and create long-term value in an ever-evolving landscape. To do so, strategists and scholars emphasize the importance of reinventing processes, BMs, and products to respond to emerging needs and drive new disruptive and sustainable technologies and business practices (Geissdoerfer et al., \u003cspan citationid=\"CR23\" class=\"CitationRef\"\u003e2018\u003c/span\u003e; Mitchell and Coles, \u003cspan citationid=\"CR42\" class=\"CitationRef\"\u003e2003\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eFor meso-level structures such as CIPs, these pressures may differ from those faced by micro-level companies, which face strong competition and specific challenges in their supply chain or innovation processes. However, as Table\u0026nbsp;\u003cspan refid=\"Tab5\" class=\"InternalRef\"\u003e5\u003c/span\u003e shows, there are still strategic issues for CIPs to maintain and create value in the long term. These strategies include preserving CIPs as high-value environmental hubs through the conservation of eco-efficient infrastructure, while reinventing itself in the changing context of sustainability to attract new tenants and ensure long-term success.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab5\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 5\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eInternal and tomorrow CIPs\u0026rsquo; strategy, values and drivers\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"3\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eStrategy\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eValue created\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003eDrivers\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eContinuous innovation and optimization of eco-efficient processes\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eEnvironmental innovation\u003c/p\u003e \u003cp\u003eCIPs\u0026rsquo; image and positioning\u003c/p\u003e \u003cp\u003eCost and risk reduction\u003c/p\u003e \u003cp\u003eEnvironmental performance\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eResources and energy costs and requirements\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eUpdating of CIPs\u0026rsquo; strategies and culture according to sustainability concepts evolution\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eCE and IS improved performance\u003c/p\u003e \u003cp\u003eEconomic performance\u003c/p\u003e \u003cp\u003eDevelopment of local economic resilience\u003c/p\u003e \u003cp\u003eNew markets and industries\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eCompetition between industrial precincts\u003c/p\u003e \u003cp\u003eEvolution of CBMs and IS\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"3\"\u003eSource: personal elaboration\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eGiven the significant energy and waste consumption, environmental challenges, and the associated costs and requirements of production activities, CIPs are well-positioned to drive long-term innovation and address environmental issues through IS. Ongoing maintenance of these projects not only supports environmental innovation and performance but also contributes to economic gains by reducing costs and risks.\u003c/p\u003e \u003cp\u003eFurthermore, by cultivating a more sustainable and positive image, CIPs can attract new tenants, thereby strengthening their long-term viability and competitive advantage. Developing new sustainable and circular solutions can be achieved by leveraging the park\u0026rsquo;s resources in the innovation process or through collaborations with research institutions (Patnaik and Poyyamoli, \u003cspan citationid=\"CR44\" class=\"CitationRef\"\u003e2015\u003c/span\u003e). Over time, this approach will not only improve energy efficiency and WM within CIPs but also reinforce their role in enhancing the sustainable performance of their stakeholders.\u003c/p\u003e \u003cp\u003eFurthermore, the case of the Turku EIP illustrates how clusters promoting CE are driven by academic research and innovation (Sitra, \u003cspan citationid=\"CR52\" class=\"CitationRef\"\u003e2020\u003c/span\u003e). Developing such initiatives with an adapted level of technological intensity can lead to the generation of new CBMs that yield positive outcomes via beneficial spillover effects. Ultimately, by fostering innovation among stakeholders, CIPs can achieve significant environmental performance while ensuring long-term financial viability through the fees and revenues generated on-site.\u003c/p\u003e \u003cp\u003eAnother crucial point is to maintain the long-term attractiveness of the site in the competitive market of industrial districts. In fact, CIPs are at the very end of a specific BM as such. Whether they are lucrative or not, they still must attract and retain companies to be viable through the fees they charge or the funding they receive. To do this, CIPs will have to constantly develop specific strategies to reinvent their BM and adapt it to the evolving issues concerning sustainability and CE development, but also to changing market conditions.\u003c/p\u003e \u003cp\u003eThis management also requires efforts from the executive board and the marketing team to attract desired tenants (Roberts, \u003cspan citationid=\"CR48\" class=\"CitationRef\"\u003e2004\u003c/span\u003e). Developing appropriate projects and strategies, as well as communicating with decision makers and the local community, requires a long-term commitment. It will help to attract new businesses and gives opportunity to organize the precincts to create a unique value proposition that will allow it to be competitive and generate revenues. In addition, achieving strong management performance will also have a positive impact on the value created in the region, attracting external investment and offering social and environmental benefits with the emergence of new BMs that have decided to locate in a place that responds to their needs.\u003c/p\u003e \u003c/div\u003e \u003cdiv id=\"Sec12\" class=\"Section3\"\u003e \u003ch2\u003e4.1.4 External and tomorrow\u003c/h2\u003e \u003cp\u003eExternal and long-term strategies consist of actions that CIPs should develop to meet the challenges faced by their stakeholders and create positive external value through their operations. These strategies ensure long-term performance that benefits for both stakeholders and CIPs' tenants. As shown in Table\u0026nbsp;\u003cspan refid=\"Tab6\" class=\"InternalRef\"\u003e6\u003c/span\u003e, the aim is to foster innovation among local occupiers encouraging the development of new products, services, and processes that meet societal and environmental needs while delivering long-term performance. Additionally, these strategies strengthen CIPs' long-term participation in local IS and improve external communication, solidifying their role as key players for local stakeholders and maximizing the overall benefits created.\u003c/p\u003e \u003cp\u003e \u003cdiv class=\"gridtable\"\u003e\u003ctable float=\"Yes\" id=\"Tab6\" border=\"1\"\u003e \u003ccaption language=\"En\"\u003e \u003cdiv class=\"CaptionNumber\"\u003eTable 6\u003c/div\u003e \u003cdiv class=\"CaptionContent\"\u003e \u003cp\u003eExternal and tomorrow CIPs\u0026rsquo; strategy, values and drivers\u003c/p\u003e \u003c/div\u003e \u003c/caption\u003e \u003ccolgroup cols=\"3\"\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c1\" colnum=\"1\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c2\" colnum=\"2\"\u003e\u003c/div\u003e \u003cdiv align=\"left\" class=\"colspec\" colname=\"c3\" colnum=\"3\"\u003e\u003c/div\u003e \u003cthead\u003e \u003ctr\u003e \u003cth align=\"left\" colname=\"c1\"\u003e \u003cp\u003eStrategy\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c2\"\u003e \u003cp\u003eValue created\u003c/p\u003e \u003c/th\u003e \u003cth align=\"left\" colname=\"c3\"\u003e \u003cp\u003eDrivers\u003c/p\u003e \u003c/th\u003e \u003c/tr\u003e \u003c/thead\u003e \u003ctbody\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eKnowledge and innovation development of tenants\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eDevelopment of CE and new CBMs\u003c/p\u003e \u003cp\u003eIncrease of job employment and local economy\u003c/p\u003e \u003cp\u003eRole of firms incubator\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eCE evolving BMs\u003c/p\u003e \u003cp\u003eLocal tenants\u0026rsquo; needs\u003c/p\u003e \u003cp\u003eLocal demand for CE\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eContribute to innovation and IS optimization\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eEnvironmental innovation\u003c/p\u003e \u003cp\u003eBenefit for local environment\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eRegulatory evolutions\u003c/p\u003e \u003cp\u003eIS evolution\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003ctr\u003e \u003ctd align=\"left\" colname=\"c1\"\u003e \u003cp\u003eCommunication and branding management\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c2\"\u003e \u003cp\u003eBetter reputation and support from stakeholder\u003c/p\u003e \u003cp\u003eBetter interactions with local community which improve CIPs effects on local IS\u003c/p\u003e \u003c/td\u003e \u003ctd align=\"left\" colname=\"c3\"\u003e \u003cp\u003eNecessity to showcase their role in CE and sustainability\u003c/p\u003e \u003cp\u003eNeed for understanding from stakeholder\u003c/p\u003e \u003cp\u003eCompetition between precincts\u003c/p\u003e \u003c/td\u003e \u003c/tr\u003e \u003c/tbody\u003e \u003c/colgroup\u003e \u003ctfoot\u003e \u003ctr\u003e\u003ctd colspan=\"3\"\u003eSource: personal elaboration\u003c/td\u003e\u003c/tr\u003e \u003c/tfoot\u003e \u003c/table\u003e\u003c/div\u003e \u003c/p\u003e \u003cp\u003eLong-term value generation should align with local societal and economic aspirations (Kramer and Porter, \u003cspan citationid=\"CR34\" class=\"CitationRef\"\u003e2011\u003c/span\u003e; Savitz, \u003cspan citationid=\"CR50\" class=\"CitationRef\"\u003e2013\u003c/span\u003e). The public's growing interest in circular products influences the evolving needs of the CE players. By implementing strategies that promote innovation and long-term development within the precinct, CIPs can contribute to both local economic growth and environmental sustainability by generating local jobs and income, supplying new products and services to local markets, and fostering greater IS (Gibbs and Deutz, \u003cspan citationid=\"CR25\" class=\"CitationRef\"\u003e2005\u003c/span\u003e).\u003c/p\u003e \u003cp\u003eThis strategy can take several complementary forms. One key aspect is to address the challenges related to the development of IS and technological advancements (Lambert and Boons, \u003cspan citationid=\"CR36\" class=\"CitationRef\"\u003e2002\u003c/span\u003e). This goal can by facilitating collaboration among tenants (Lambert and Boons, \u003cspan citationid=\"CR36\" class=\"CitationRef\"\u003e2002\u003c/span\u003e) or developing trainings (Yu et al., \u003cspan citationid=\"CR67\" class=\"CitationRef\"\u003e2014b\u003c/span\u003e; Zhu et al., \u003cspan citationid=\"CR71\" class=\"CitationRef\"\u003e2015\u003c/span\u003e). Other options consist of partnerships with research institutions (Sitra, \u003cspan citationid=\"CR52\" class=\"CitationRef\"\u003e2020\u003c/span\u003e; Patnaik and Poyyamoli, \u003cspan citationid=\"CR44\" class=\"CitationRef\"\u003e2015\u003c/span\u003e) and the creation of dedicated innovation spaces for companies that may lack the resources to innovate alone.\u003c/p\u003e \u003cp\u003eInnovation strategies must consider the specific needs of local tenants since CBMs can significantly vary from one tenant to another. Even for tenants using the same level of technology, CBMs may differ in terms of the knowledge and tools they require or how their operations are organized. Balancing these diverse CBMs presents a challenge, but as seen in mixed IPs, this diversity can enhance resilience, foster broader value creation, and facilitate the exchange of varied inputs (Lambert and Boons, \u003cspan citationid=\"CR36\" class=\"CitationRef\"\u003e2002\u003c/span\u003e; Liwarska-Bizukojc et al., 2016).\u003c/p\u003e \u003cp\u003eMoreover, a continuous pursuit of long-term improvement and innovation in IS can position CIPs at the forefront of local IS development. Over time, CIPs can create significant environmental value by integrating into surrounding ecosystems, thereby reducing local energy consumption, lowering greenhouse gas emissions, and sustaining long-term innovation and optimization in energy and WM processes. When combined with updated monitoring systems, as recommended by UNIDO (\u003cspan citationid=\"CR58\" class=\"CitationRef\"\u003e2021\u003c/span\u003e), this strategy proves to be highly effective in driving sustained environmental and economic performance.\u003c/p\u003e \u003cp\u003eFinally, managing the reputation and role of CIPs in CE and IS will help build a strong brand and reputation that attracts business, investors, and public support, while improving practices and interactions with stakeholders.\u003c/p\u003e \u003cp\u003eA first aspect is maintaining trust in CIPs' activities. This imply ensuring transparency by sharing clear information about their performance, initiatives, and innovations and developing a strong branding strategy and unique selling proposition that highlights CIPs\u0026rsquo; positive impact and sustainable commitment.\u003c/p\u003e \u003cp\u003eThe second challenge is to communicate effectively with stakeholders and the public to enhance and maximize interactions between CIPs and their communities. Engaging the local population is crucial, as their involvement and consumption patterns significantly contribute to the economic success of tenants while helping to mitigate the negative impacts of linear consumption. To achieve this, CIPs should identify and cultivate strong relationships with their stakeholders to secure economic and political support, foster long-term engagement, and understand their needs and expectations (Uusikartano et al., \u003cspan citationid=\"CR59\" class=\"CitationRef\"\u003e2021\u003c/span\u003e). Additionally, CIPs should position themselves as landmarks and hubs for the local CE by promoting practices that encourage circular behaviors. By encouraging these connections, CIPs can strengthen community ties and advance sustainable practices within local areas.\u003c/p\u003e \u003c/div\u003e \u003c/div\u003e"},{"header":"5. Discussion","content":"\u003cp\u003eBased on the insights gained from the review of CIPs\u0026apos; strategies and value creation, this section examines the main axes and challenges for CIPs development and proposes a roadmap and recommendations accordingly.\u003c/p\u003e\n\u003ch2\u003e5.1. Key axis and main challenges\u003c/h2\u003e\n\u003cp\u003eOverall, CIP strategies align with three main axes, starting with short-term measures to establish CIPs, followed by a long-term commitment to sustain their value creation and competitive advantage over time. These axes respond to the following targets:\u003c/p\u003e\n\u003col\u003e\n \u003cli\u003eIntegrating CIPs in local ecosystems;\u003c/li\u003e\n \u003cli\u003eImproving CIPs environmental efficiency;\u003c/li\u003e\n \u003cli\u003eContribution to CBMs performance.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eThese targets must transversally integrate five essential elements: 1) understanding the local environment, 2) communication, 3) innovation, 4) monitoring and 5) management. Together, these components will support the development of a healthy IS tailored to the local context while being viable. However, to genuinely enhance the precinct\u0026apos;s overall performance, practitioners must go beyond surface-level efforts, ensuring deep integration and sustained commitment (Graham et al., 2022).\u003c/p\u003e\n\u003cp\u003eThe first target involves a comprehensive approach from the organization\u0026apos;s board to ensure that CIPs are effectively integrated into local economy. Given the diversity of stakeholders and interests involved in such a transition, a clear understanding of the local environment is essential for identifying and leveraging both opportunities and challenges (Svensson et al., 2016). Additionally, stakeholders, policymakers, and the broader public should be convinced of the CIPs\u0026apos; crucial role in advancing sustainability in the region. The goal is for CIPs to become key facilitators in green economy growth by fostering strong connections between economic actors, including tenants and the local community. In doing so, CIPs will contribute significantly to the region\u0026rsquo;s social and economic well-being, as well as to the development of a local IS.\u003c/p\u003e\n\u003cp\u003eThe second target focuses on enhancing CIPs\u0026apos; environmental efficiency by developing high-performance material flows, WM processes, and energy-efficient infrastructures, while incorporating them into local ecosystem. This will enable CIPs to provide eco-efficient infrastructure that enhances their own and tenants\u0026apos; performance, but also this of the local society. Such developments require specialized technological expertise and innovative approaches to ensure successful implementation. Furthermore, monitoring tools and integrated management systems must be in place from the first stages and continuously updated over time to optimize the environmental, economic, and social outcomes (Griffith and Bhutto, 2009).\u003c/p\u003e\n\u003cp\u003eWhere internal resources are insufficient, engineering consultants can offer valuable guidance during this process. Additionally, partnerships with research institutes could be beneficial, as CIPs might serve as ideal locations for such research and experimentation.\u003c/p\u003e\n\u003cp\u003eAnother major challenge concerns financial constraints. While many technologies for improving resource efficiency and management are already available, adapting them to local conditions and securing subsidies can pose significant obstacles to their implementation. These obstacles can be overcome by aligning CIPs\u0026rsquo; strategies with local policies and projects to gain support from relevant stakeholders. Additionally, careful planning is essential to identify the most impactful aspects of CIPs and to balance costs and outcomes, ensuring that each option is the most effective.\u003c/p\u003e\n\u003cp\u003eThe final target is to develop a compelling strategy that attracts tenants and enable them to contribute to the SD of the local society and ensure CIPs long-term viability. A comprehensive analysis of local circularity needs to be carried out, as each region has its own ecosystem and challenges. The focus should also be on how tenants can collaborate and add value locally. Based on this analysis, the board should establish selection criteria for potential tenants and develop a marketing strategy to position the CIPs as attractive locations for businesses looking to thrive in the CE.\u003c/p\u003e\n\u003cp\u003eTo facilitate tenants economic, environmental, and social performance, the support provided should consist of facilitating communication between tenants and with the local community. Moreover, measures to foster innovation, knowledge sharing as well as to reduce operative costs of tenants will play an important not only in the economic viability of residents, but also in the value they will be able to create.\u003c/p\u003e\n\u003ch2\u003e5.2. Roadmap and recommendations\u0026nbsp; \u0026nbsp; \u0026nbsp; \u0026nbsp;\u0026nbsp;\u003c/h2\u003e\n\u003cp\u003eInitial planning is important as it plays an important role in EIPs economic and sustainable performance (Son et al., 2023). Consequently, the different values and strategies related to CIPs highlighted, it becomes possible to draw up a general roadmap for similar projects.\u003c/p\u003e\n\u003cp\u003eWhile this roadmap is developed from the perspective of CIPs\u0026rsquo; boards, policymakers can also use these insights to design policies that support the development of CIPs or the integration of some of their specificities into EIPs policies.\u003c/p\u003e\n\u003cp\u003eFigure 5: Roadmap for CIPs development\u003c/p\u003e\n\u003cp\u003eAs illustrated in Figure 5, the roadmap integrates the three previously mentioned targets by developing both transversal and specific projects. To achieve these goals, the strategy is built around four axes: focusing on the policy and regulatory framework, managing relationships with stakeholders, establishing a comprehensive strategy for residents, and greening the infrastructure.\u003c/p\u003e\n\u003cp\u003eAll these tasks can be performed using internal resources or external expertise. In addition, public authorities might ease the process by developing appropriate instruments such as economic incentives, environmental standards, resource utilization schemes, or planning advice to reduce the risks and positively influence CIPs strategic positioning (e.g., Uusikartano et al., 2021; Yu et al.,\u0026nbsp;2015).\u003c/p\u003e\n\u003cp\u003eIn the initial stages of CIP development, the primary focus is on establishing a clear vision that outlines the environmental, social, and economic objectives, and aligns with regional and national sustainability strategies. The board should also understand and secure the commitment of local stakeholders and assess the feasibility of the project by analyzing local demand, potential tenant, infrastructure needs, regulatory and policy frameworks, and financial viability. By the end of this phase, the operational team should have a vision and framework that details the park\u0026apos;s operational model, including energy, waste, and resource exchange strategies, as well as criteria for tenant selection, and ultimately, how the project will generate value.\u003c/p\u003e\n\u003cp\u003eThe focus should be on creating sustainable infrastructure that promotes resource and energy efficiency, prioritizing the use of renewable sources. Additionally, a network for waste and resource exchange can be established to enhance IS and reduce the negative impacts of resource consumption and waste generation. The final steps of this phase involve setting green standards for tenant facilities and establishing a comprehensive monitoring system to track environmental, social, and economic performance.\u003c/p\u003e\n\u003cp\u003eThe third and fourth stages consist of implementing and operating CIPs strategy developed in previous stages. The center point is the recruitment of tenants aligning CIPs environmental and economic goals. The management of park operations, tenant coordination, and monitoring should be implemented and run in a way seeking continuous performance over time. Finally, maintaining cooperation and communication with the local community on projects contributing to local CE and IS must not be neglected.\u003c/p\u003e"},{"header":"6. Concluding remarks","content":"\u003cp\u003eThis analysis contributes to academic knowledge by presenting how CIPs are a new variation of IPs, highlighting both positive outcomes they bring to their environment, and the key issues involved in their development. By drawing on existing insights from EIPs, value creation, strategic planning, and policy, this research brings fresh on how CE can be developed through specifically dedicated IPs and how the clustering of CBMs is an effective way to maximize the benefits CE can bring.\u003c/p\u003e \u003cp\u003eCertain limitations can be acknowledged. A first limitation is the lack of literature specific to CIPs, as this study is among the first to explore such emerging structure. This gap has been addressed by reviewing literature on closely related concept of EIPs, but future research would benefit from field studies that provide a more comprehensive understanding of CIPs. Another limitation is that the quantification of the value created may be lacking. In the future, following the development of CIPs, researchers will have the promising opportunity to quantitatively evaluate the various strategies associated with CIPs development and refine the best practices suggested in this paper. Nevertheless, this study provides a first comprehensive overview of value created by CIPs and has already practical applications.\u003c/p\u003e \u003cp\u003eThis seminal description of CIPs highlights their potential as critical drivers for CE development and value creation at the local level. By favoring the clustering of SMEs applying CBMs in a single location CIPs favor their cooperation, innovation and resilience. SMEs benefit thus from shared infrastructure, especially in areas like energy efficiency and resource management, which would be unaffordable if pursued independently. CIPs also increase CBMs visibility and CE role by positioning themselves as a local hub for the collection and distribution of resources and goods resulting from circular strategies. Consequently, while field studies should further refine these findings, these first analysis suggests that already CIPs could act as powerful catalysts for CE and IS in their regions.\u003c/p\u003e \u003cp\u003eAlthough CIPs' development may vary according to local contexts, some key elements can be generalized. First integrating CIPs into local ecosystem is crucial. For practitioners, this means establishing valuable links with local stakeholders to connect CIPs with local projects, entities, and communities. Policymakers could support it by promoting CE and IS at the local level and supporting local actors. Second enhancing CIPs\u0026rsquo; infrastructure and operations to reduce the environmental footprint of production activities or local communities is crucial. Moreover, governmental support and participation in innovative projects led by research institutes can also help to maximize environmental performance. Finally, ensuring that CIPs contribute to the performance of their tenants, will improve their viability and create economic and environmental spillovers for the region.\u003c/p\u003e \u003cp\u003eSeveral barriers to CIP development stand out. It appears that low interest in CE in a region can hinder the development of CBMs and, ultimately, CIPs ambitions. The same applies to weak regional CE networks, given that CIPs embedment in local environment. In addition, the lack of policy instruments and regulatory incentives can slow CE development, or raise the costs associated to CIPs. Finally, misalignment between tenants selection, infrastructure development, and local needs can threaten long-term site viability.\u003c/p\u003e \u003cp\u003eTo overcome these challenges, CIP management should focus on five key elements: understanding the local environment, developing an effective communication strategy, fostering innovation, implement monitoring system, and adopt an adapted managerial approach. These elements will enable CIPs to assess their potential, design appropriate strategies, and maintain long-term value creation. The roadmap proposed offers companies or public authorities an initial overview of the steps required to develop such projects, and how best tailoring actions to local conditions.\u003c/p\u003e"},{"header":"Statements and Declarations","content":"\u003cp\u003eThe author reports there are no competing interests to declare.\u003c/p\u003e"},{"header":"References","content":"\u003col\u003e\n\u003cli\u003eAfshari, H., Farel, R., \u0026amp; Peng, Q. 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Barriers to promoting eco‐industrial parks development in China: Perspectives from senior officials at national industrial parks. \u003cem\u003eJournal of Industrial Ecology\u003c/em\u003e, 19(3), 457-467. https://doi.org/10.1111/jiec.12176\u003c/li\u003e\n\u003c/ol\u003e"}],"fulltextSource":"","fullText":"","funders":[],"hasAdminPriorityOnWorkflow":false,"hasManuscriptDocX":true,"hasOptedInToPreprint":true,"hasPassedJournalQc":"","hasAnyPriority":true,"hideJournal":true,"highlight":"","institution":"","isAcceptedByJournal":false,"isAuthorSuppliedPdf":false,"isDeskRejected":"","isHiddenFromSearch":false,"isInQc":false,"isInWorkflow":false,"isPdf":false,"isPdfUpToDate":true,"isWithdrawnOrRetracted":false,"journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true},"keywords":"Eco-industrial park, Circular economy, Industrial ecology, Circular-industrial park, Circular business models, Industrial symbiosis","lastPublishedDoi":"10.21203/rs.3.rs-5595940/v1","lastPublishedDoiUrl":"https://doi.org/10.21203/rs.3.rs-5595940/v1","license":{"name":"CC BY 4.0","url":"https://creativecommons.org/licenses/by/4.0/"},"manuscriptAbstract":"\u003cp\u003eThis study introduces the understudied concept of circular industrial parks (CIPs), which extend the commonly acknowledged initial role of eco-industrial parks (EIPs) in waste management and energy efficiency. CIPs give a new perspective on EIPs literature by integrating circular business models (CBMs) related to broader aspects of the circular economy (CE), while promoting collaboration with local communities to enhance social, environmental, and economic outcomes.\u003c/p\u003e \u003cp\u003eBy applying the Sustainable Value Framework (SVF) and the UNIDO EIPs framework, this study provides a comprehensive analysis of how CIPs create value, the strategic stakes for practitioners and policy makers, and a roadmap for their development.\u003c/p\u003e \u003cp\u003eThe study concludes that CIPs have the potential to drive CE at the local level differently from traditional EIPs and provides actionable strategies for practitioners and policymakers to facilitate their success. They enable the clustering of businesses committed to CE and facilitate the development of new CBMs by providing space for collaboration, innovation, resilience and improved infrastructure for energy and resource use at costs that would be difficult to achieve independently. CIPs also increase the visibility of CBMs within their region and strengthen the role of CE by serving as local hubs for the distribution of resources and goods.\u003c/p\u003e \u003cp\u003eThis research contributes to the academic and practical understanding of CIPs and opens avenues for further exploration and field studies. While further field studies are needed, CIPs are seen as powerful catalysts for CE and industrial symbiosis.\u003c/p\u003e","manuscriptTitle":"From eco-industrial parks to circular-industrial parks: developing new industrial parks for new business models","msid":"","msnumber":"","nonDraftVersions":[{"code":1,"date":"2024-12-09 06:03:14","doi":"10.21203/rs.3.rs-5595940/v1","editorialEvents":[{"type":"communityComments","content":0}],"status":"published","journal":{"display":true,"email":"[email protected]","identity":"researchsquare","isNatureJournal":false,"hasQc":true,"allowDirectSubmit":true,"externalIdentity":"","sideBox":"","snPcode":"","submissionUrl":"/submission","title":"Research Square","twitterHandle":"researchsquare","acdcEnabled":true,"dfaEnabled":false,"editorialSystem":"","reportingPortfolio":"","inReviewEnabled":false,"inReviewRevisionsEnabled":true}}],"origin":"","ownerIdentity":"b9eacdb4-af68-40ae-b4ff-aafd868b70fe","owner":[],"postedDate":"December 9th, 2024","published":true,"recentEditorialEvents":[],"rejectedJournal":[],"revision":"","amendment":"","status":"posted","subjectAreas":[{"id":41274027,"name":"Environmental Economics"}],"tags":[],"updatedAt":"2024-12-09T06:03:14+00:00","versionOfRecord":[],"versionCreatedAt":"2024-12-09 06:03:14","video":"","vorDoi":"","vorDoiUrl":"","workflowStages":[]},"version":"v1","identity":"rs-5595940","journalConfig":"researchsquare"},"__N_SSP":true},"page":"/article/[identity]/[[...version]]","query":{"redirect":"/article/rs-5595940","identity":"rs-5595940","version":["v1"]},"buildId":"qtupq5eGEP_6zYnWcrvyt","isFallback":false,"isExperimentalCompile":false,"dynamicIds":[84888],"gssp":true,"scriptLoader":[]}