We propose arguments supporting regional innovation to be dependent upon the simultaneous influence of movement of citizens and the industry structure within the region. Our hypotheses state that regions with a high industry concentration gain relatively more from individuals moving in respectively out from the region compared to regions with a low industry concentration. We tested our model and hypotheses on a four year longitudinal data from official registers on the complete population of 290 Swedish municipalities. Results support that regions with a high industry concentration gain innovation activity from increases in both in- and outflows of citizens from the region. Results on regions with a low industry concentration are inconclusive but indicate, in support of our arguments, that such regions gain relatively more from stability (i.e., low movement) in the region.