Is Cincinnati prepared for the emerging economic influence and preference of the Millennials?.
The most educated generation the world has ever seen is starting to flex its muscle when it comes to the location of corporate headquarters. For years it has been said that Millennials would and are choosing places to live before choosing places to work, and with increasing evidence of the talented, young professionals turning down jobs for companies in suburbs, this seems to be true. What is Cincinnati doing to position itself as one of the small group of cities who win over the largest and most educated generation in American history? More from Yahoo! Finance:
After decades of big businesses leaving the city for the suburbs, U.S. firms have begun a new era of corporate urbanism. Nearly 200 Fortune 500 companies are currently headquartered in the top 50 cities. Many others are staying put in the suburbs but opening high-profile satellite offices in nearby cities, sometimes aided by tax breaks and a recession that tempered downtown rents. And upstart companies are following suit, according to urban planners. The bottom line: companies are under pressure to establish an urban presence that projects an image of dynamism and innovation.
As young workers start families, they may care more about soccer fields and good schools than sushi restaurants and bike paths, priorities that may send them out of the urban core. But the employers that sought them out in the city are unlikely to follow them back to the suburbs, said Mr. Phillips of the Urban Land Institute. “Given energy prices and traffic conditions, it’ll be a long time before we see another wave of suburbanization.”
