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Attracting Talent Through the Development of Vibrant Urban
Centers
Joe CortrightJanuary 2010
Synopsis KnowledgeTalent
InnovationConnections
DistinctivenessUrban Vitality
Knowledge
Shifting sources of wealth
Resources
Costs
Proximity
Clusters
Knowledge
Talent
Quality of Life
Current
Traditional
Inherited Assets
Created Assets
Universities promote knowledge
Teaching
Research
Cities promote knowledge, too
“Stadtluft macht frei”
Harnessing Knowledge
Talent
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Less thanHigh
School
HighSchool
Graduate
SomeCollege, AA
Degree
4 YearDegree
AdvancedDegree
Annual Earnings(Inflation-adjusted) 1975
Returns to education have always been substantial
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Less thanHigh
School
HighSchool
Graduate
SomeCollege, AA
Degree
4 YearDegree
AdvancedDegree
Annual Earnings(Inflation-adjusted) 2003
But have increased sharply over the past 25
years
This holds for cities, tooEducation Explains Most Differences in Metro IncomeAnnual Per Capita Income, 2005
NO
RAL
ROC
SLC
BIR
BUF
OKC
HAR
RIC
LOUMEM
JAC NAS
AUS
MIL
CHA
PRI
VB
IND
COL
LV
SAT
KC
ORL
SACCLECIN POR
PIT
DEN
BAL
TPA
STL
SAN
MIN
SEA
PHO
DET
ATL
MIA
HOU PHI
DAL
CHI
LA
NY
y = 763.27x + 16466
R2 = 0.5846
$30,000
$32,000
$34,000
$36,000
$38,000
$40,000
$42,000
$44,000
$46,000
$48,000
$50,000
15 20 25 30 35 40 45Percent of Population with a 4-Year College Degree, 2006
Sources: BEA (Income), Census (Education)
The Talent Dividend
Akron Talent Dividend:$500 million annually
Middle of the Pack Attainment0% 10% 20% 30% 40% 50%
Washington
Akron
Riverside
Adult four-year attainmetn rate, 2008
High enrollment
0 10 20 30 40 50 60
Las Vegas
AkronAustin
18 to 24 Year Olds in College Per 1000 Residents
Weakened by migration
Net Domestic Migration, 2000 to 2008
Akron - 16,865Cincinnati - 18,954Cleveland -129,976Columbus + 25,700Indianapolis + 64,372Pittsburgh - 57,928
Talent now seeks placeThinking about how you will look for and choose your next job, which of the following statements best reflects your opinion?
(Asked of 1,000 25-34 year old college graduates)
Look for the best job I can find. The place where it located is pretty much a secondary consideration.
0% 20% 40% 60% 80%
Look for a job in a place that I would like to live
Innovation
Above Average in Patents0 20 40 60 80
San Jose
Akron
Oklahoma City
Patents per 10,000 workers
Environment Matters
$300MM in Academic R&D yields:
112 Innovations in Tier 1 avg. pop. 3MM
16 Innovations in Tier 2 avg. pop. 1MM
5 Innovations in Tier 3 avg. pop. 400K
4 Innovations in Tier 4 avg. pop. 200K
Source: Varga, 2000
Yield varies based on metro areas size:
Critical Mass
Pure university-based alone is not enough to produce local innovation.
A "critical mass" of agglomeration is required to achieve substantial local economic effects of academic research.
(McMahan, 2007)
Connections
Civic Engagement0% 20% 40% 60% 80% 100%
MinneapolisAkron
Riverside
Percent of Adults Voting in 2008
Kinds of Connections
DensitySocial Capital
Buzz and PipelinesBusiness/Academic
Distinctiveness
Differences Matter
Michael Porter“Competitive strategy is about being
different.”
Jane Jacobs"The greatest asset that a city can have is something that's different from every other
place."
Weirdness Index0 2 4 6 8 10
Salt Lake
Akron
Difference from US Average (Composite Score)
Portland as an Example
Sustainability - FirstVegan – First
Farmer’s Market - FirstCyclocross – FirstMicrobrew – First
Dragonboats – FirstEspresso - Second
Fixie – Fourth
Portland’s Rank Among 50 Largest US Metro Areas in Relative Google Searches
Source: Google Trends, 2009
Physical Activity• Compared to the average for the US, Portlanders are:• Twice as likely to go camping• 60% more likely to go hiking or backpacking• 40% more likely to golf or hunt• Region ranks last in theme park attendance• Oregonians rank lowest in sedentary life styles and 2nd highest of vigorous physical activity
Recreationally-Minded
In the late 60s the jogging craze takes off in many towns led by Eugene OregonA guy starts selling Japanese running shoes out of the back of his station wagon
Urban Vitality
Gaining young talentRank 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-olds1990 to 2000+30 Percent
Share of25 to 34 year-oldswith a 4-year degree54 Percent
Close-In Neighborhoods Matter
Young adult preference for close-in living relative to other Americans
1980: +10% Greater1990: +12% Greater2000: +30% Greater
Young adult close-in preference increased in all 50 large metro areas between 1990-2000
Green DividendHow urban form and transit enable people to drive less, saving money that gets spent locally, helping foster urban economic growth
Cycling to Work0.00% 0.50% 1.00% 1.50% 2.00% 2.50%
Portland
Akron
Percent of Journeys to Work by Bicycle, 2008
Improving Walkability Adds $10,000 to $30,000 to Home
Values
-20,000 0 20,000 40,000
Arlington
AustinBakersfield
CharlotteChicago
DallasFresno
Jacksonville
Las VegasPhoenix
SacramentoSan Francisco
SeattleStockton
Tucson
Value gain frommoving frommedianwalkability to75th percentilein walkability
Implications of City Vitals
Talent
Bolster the region’s education systemRetain and attract talent
Innovation
Link research to local cluster strengths
Connections
Buzz: Connect the city to the universityPipelines: Connect the city to the world
Distinctiveness
Capitalize on the region’s unique character
Urban Vitality
Build a vibrant urban core that attracts talent and let’s people create “the new good
life”
DUMMY0 20 40 60 80
San Jose
St. Louis
Oklahoma City
18 to 24 Year Olds in College Per 1000 Residents
PatentsOregon Producing More New Knowledge
-
500
1,000
1,500
2,000
2,500
1993 1995 1997 1999 2001 2003 2005 2007Source: US Patent and Trademark Office
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
Patents Issued to Oregon Inventors
Patents - BarsPercent of U.S. - Line
Oregon Share of US Patents
Start-ups, spinoffs in high tech
© Heike Mayer. 2002 -- used by permission2002
The universe is expanding
© Heike Mayer. 2008 -- used by permission2008