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Attracting Talent Through the Development of Vibrant Urban Centers Joe Cortright January 2010
Synopsis ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Knowledge
Shifting sources of wealth ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Current Traditional Inherited Assets Created Assets
Universities promote knowledge  ,[object Object],[object Object]
Cities promote knowledge, too “ Stadtluft macht frei”
Harnessing Knowledge
 
Talent
Returns to education have always been substantial Annual Earnings (Inflation-adjusted) 1975
But have increased sharply over the past 25 years Annual Earnings (Inflation-adjusted) 2003
This holds for cities, too
The Talent Dividend Akron Talent Dividend: $500 million annually
Middle of the Pack Attainment Adult four-year attainmetn rate, 2008
High enrollment 18 to 24 Year Olds in College Per 1000 Residents
Weakened by migration Net Domestic Migration, 2000 to 2008 Akron - 16,865 Cincinnati - 18,954 Cleveland -129,976 Columbus + 25,700 Indianapolis + 64,372 Pittsburgh -  57,928
Talent now seeks place ,[object Object],Look for the best job I can find. The place where it located is pretty much a secondary consideration .  Look for a job in a place that I would like to live
Innovation
Above Average in Patents Patents per 10,000 workers
Environment Matters ,[object Object],[object Object],[object Object],[object Object],[object Object],Source: Varga, 2000 Yield varies based on metro areas size:
Critical Mass ,[object Object],[object Object],[object Object]
Connections
Civic Engagement Percent of Adults Voting in 2008
Kinds of Connections ,[object Object],[object Object],[object Object],[object Object]
Distinctiveness
Differences Matter ,[object Object],[object Object],[object Object],[object Object]
Weirdness Index Difference from US Average (Composite Score)
Portland as an Example ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Portland’s Rank Among 50 Largest US Metro Areas in Relative Google Searches Source:  Google Trends, 2009
Physical Activity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Recreationally-Minded In the late 60s the jogging craze takes off in many towns led by Eugene Oregon A guy starts selling Japanese running shoes out of the back of his station wagon
Urban Vitality
Gaining young talent Rank Metropolitan Area   Change, 1990-2000 2 Charlotte, NC MSA 56.6% 3 Austin--San Marcos, TX MSA 56.2% 4 Portland—Vancouver--Salem, OR--WA CMSA 50.0% 5 Atlanta, GA MSA 46.2% 6 Denver--Boulder--Greeley, CO CMSA 40.1% 42 St. Louis, MO, MSA -0.7% 45 New Orleans, LA MSA -4.3% 49 Providence, RI MSA  -7.0% Change in College Educated 25-34s
Close-in Neighborhoods Key Concentration of College-educated 25-34 year-olds 3 miles from CBD Growth of  25 to 34 year-olds 1990 to 2000 +30 Percent Share of 25 to 34 year-olds with a 4-year degree 54 Percent
Close-In Neighborhoods Matter ,[object Object],[object Object],[object Object],[object Object],[object Object]
Green Dividend How urban form and transit enable people to drive less, saving money that gets spent locally, helping foster urban economic growth
Cycling to Work Percent of Journeys to Work by Bicycle, 2008
 
Improving Walkability Adds $10,000 to $30,000 to Home Values
Implications of  City Vitals
Talent ,[object Object],[object Object]
Innovation ,[object Object]
Connections ,[object Object],[object Object]
Distinctiveness ,[object Object]
Urban Vitality ,[object Object]
 
 
DUMMY 18 to 24 Year Olds in College Per 1000 Residents
Patents
Start-ups, spinoffs in high tech © Heike Mayer. 2002 -- used by permission 2002
The universe is expanding © Heike Mayer. 2008 -- used by permission 2008
 

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Cortright Akron Jan2010

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