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The need to better understand the mechanisms underlying regional growth patterns is widely recognized. This article argues that regional growth is partly a function of the value created through inter-organizational flows of knowledge within and across regions. It is proposed that investment in calculative networks by organizations to access knowledge is a form of capital, termed network capital, which should be incorporated into regional growth models. The article seeks to develop a framework to capture the value of network capital within these models based on the spatial configuration and the nature of the knowledge flowing through networks.