To survive and thrive in market economy, actors seek for continuous increased productivity and effectiveness. To do so, there is a dominant argument that concentration or clustering of economic activities might enhance economic performance and growth. In an increasingly global market, knowledge and creativity are often highlighted as increasingly important factors for economic growth in post-industrial societies. Changes in the economic landscape mean that the location of human capacity becomees a key aspect for knowledge creation and regional economic growth, especially for the development of the creative industry. In many EU countries, political institutions at various levels strive to assist the growth of, or even develop creative economic clusters. But is it possible, through political means, to actually construct a flourishing and sustainable creative industry clusters? And if so, is it possible to attract and/or develop the creative capital, the essential element for the development and growth of the creative industry. The article aims to critically discuss and further develop the conceptual discussion of creative capital, its relation in time and space, and thereby impact on regional economic growth. In an attempt to take the theoretical discussion a step forward, the creative capital theory will be critically analysed, where the author apply comparative studies to examine the impact of creative capital at national, regional and local level in a time-spatial context.