Stumbled on this interesting report from a few of months ago that looks at what cities attract college graduates. According to data assembled by the think tank City Observatory, “The number of college-educated people age 25 to 34 living within three miles of city centers has surged, up 37 percent since 2000, even as the total population of these neighborhoods has slightly shrunk.” Why is this significant? Well, because the movement of young people and the places that attract them can help provide “a map of the cities that have a chance to be the economic powerhouses of the future,” the article asserts.
The economic effects reach beyond the work the young people do, according to Enrico Moretti, an economist at the University of California, Berkeley, and author of “The New Geography of Jobs.” For every college graduate who takes a job in an innovation industry, he found, five additional jobs are eventually created in that city, such as for waiters, carpenters, doctors, architects and teachers.
“It’s a type of growth that feeds on itself — the more young workers you have, the more companies are interested in locating their operations in that area and the more young people are going to move there,” he said.
So what cities will be the economic powerhouses of the future? Not Dallas, apparently.Full Story