Let the Trend be Your Friend

“The economies of most big cities are idling. The real entrepreneurial hotbeds are now on the periphery—where low costs make it possible to thrive in a tough global economy. The new economy didn’t disappear. It changed addresses.” This is how Inc. Magazine began their Annual Best Places for Doing Business in America 2005 in this month’s issue. And, while their research is focused upon MSAs (Metropolitan Statistical Areas), much larger than the focus of my research, their study points out this trend of people moving from the “rat race” cities to places with a better quality of life.

Inc pointed out that even in the midst of the dot com bubble, some of the biggest job gains among educated workers were taking place in out of the way spots, especially in the Sunbelt. They add, “The process has only accelerated since then. Cities like New York, Boston, and San Francisco still attract many of the best and brightest when they are in their 20s and early 30s. But as these people get older and start families, they tend to move to nearby suburbs or out of the region entirely.”

I’m seeing this movement in my travels and have become more convinced each day that the agurbs® that can create a special “quality of life and sense of place” for these young professionals, will be the ones that end up creating some very unique opportunities for their general population in the long term.