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Philadelphia is the black swan , every year predictions are made and every year there's a black swan ,who seen that coming .The teck sector in Philly has transitioned from logarithmic growth too exponential growth in the job market , in spite of state and local gov. policies the tech sector will continue to flourish . The pluses far out weight the negatives .
The talent pool in Philly is only rivaled by Boston area, Philly is a close second . Another potential black swan is Pittsburgh .
Truthfully, I don't think Philly, Boston, or Chicago should be on the poll since they are more mature, stable metros with average growth rates. You could make a similar case for NYC but since it's just a different beast altogether, it should probably be included.
But thats literally the definition of blue chip. Blue chip stocks are of large well established companies that reliably and steadily grow during good times and downturns. They do not have crazy double digit growth, they have steady "established" growth. Think Coca Cola and Caterpillar, not Facebook and Tesla.
Philly, Chicago, Boston, NYC would fit the bill very well. NYC is pretty much the definition of blue chip, since its "too big to fail", doesn't have crazy % growth since its starting with a large baseline, and doesn't decline nearly as sharp as other cities during recessions. NYC simply chugs along at #1 for the past 200 years, with slow but consistent gains.
But thats literally the definition of blue chip. Blue chip stocks are of large well established companies that reliably and steadily grow during good times and downturns. They do not have crazy double digit growth, they have steady "established" growth. Think Coca Cola and Caterpillar, not Facebook and Tesla.
Philly, Chicago, Boston, NYC would fit the bill very well. NYC is pretty much the definition of blue chip, since its "too big to fail", doesn't have crazy % growth since its starting with a large baseline, and doesn't decline nearly as sharp as other cities during recessions. NYC simply chugs along at #1 for the past 200 years.
You're right, but reading what the OP is getting at, it doesn't really sound like he's truly talking about "blue chip" cities but rather hot upstarts, relatively speaking.
But thats literally the definition of blue chip. Blue chip stocks are of large well established companies that reliably and steadily grow during good times and downturns. They do not have crazy double digit growth, they have steady "established" growth. Think Coca Cola and Caterpillar, not Facebook and Tesla.
Philly, Chicago, Boston, NYC would fit the bill very well. NYC is pretty much the definition of blue chip, since its "too big to fail", doesn't have crazy % growth since its starting with a large baseline, and doesn't decline nearly as sharp as other cities during recessions. NYC simply chugs along at #1 for the past 200 years, with slow but consistent gains.
Well stated. While you've accurately articulated a "blue chip", others see cities in a different vein. I would tend to agree with your assessment but tried to be city-data inclusive along the way. As many know, it's difficult to have a conversation/discussion about trends in cities if certain populaces are not included.
Seattle is part blue chip, part Nasdaq tech stock. It's supercharged right now because of tech, but also has a strong and surprisingly diversified base, as someone pointed out. Much of its economy is Boeing as well as retail HQs -- Amazon is a huge retailer, Costco is even bigger in that sector, and other companies like Nordstrom and Starbucks are key. The military is as big in the CSA as Boeing depending what you're counting. More fundamentally, we're a growing port of entry, tourist destination, and offshore real estate destination, and we're a port.
Ok, much of that will flux. As the most trade-dependent state, there's a lot of fear about what Trump could screw up on that front, especially with China. He's already attacked Boeing on multiple fronts, and he seems to hate Amazon. Boeing was already laying off many thousands. If tech drops (though it's based more closely on reality than in 2000) we'll both lose chunks of our own companies and some of the overflow from San Francisco.
Seattle obviously has a strong market, but it's primary industry is tech. It's not diversified. Seattle could realistically see a slow down any year now. I don't think it will, but it's just an uncertainty that I wouldn't place my money in.
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The biggest employer in the Seattle region - by far - is Boeing. They employ more people in the region than Microsoft, Amazon, Redfin, and Tableau combined.
Not to mention Starbucks HQ, Costco HQ, a major aerospace industry just to support Boeing, Nordstrom HQ, the Gates Foundation (the largest foundation in the world), a strong maritime industry.
Tech may be where Seattle's economy is growing but there are plenty of other thriving, more stable industries as well.
For the textbook definition, the Twin Cities fit the criteria pretty well. It's been robust and steady growth for the cities and the metro, in a metro and state that has a well-educated populace and steady government that has allowed for decent infrastructural development to go with the growth and a highly diversified economy that's less subject to large shocks from any single industry tanking. The Twin Cities sort of slowly snuck up as a major city/metropolitan area without much hype (except for Prince, but that makes sense as Prince is amazing).
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