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Old 11-21-2017, 07:16 AM
 
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What do you think? Do the abundance of government, education, and healthcare jobs help keep state capitals more afloat during periods of economic downturn?
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Old 11-21-2017, 07:37 AM
 
Location: Tennessee
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Definitely.

I've lived in two state capitals (Des Moines, Indianapolis) and spent a significant amount of time in a third (Boston). I live over four hours away/roughly 300 miles from my current state's capital.

State capitals just have a broader base of everything in general. Indianapolis isn't thought of as a college town, but there's a public research university there that has roughly 30,000 students, along with several smaller schools. Government employment in general tends to be more recession-resistant than a lot of private sector jobs.

Also, state capitals spend heavily on themselves in terms of corporate incentives, infrastructure, you name it.
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Old 11-21-2017, 07:54 AM
 
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State capitals and university towns are most resistant to economic downturns, a double bonus exists if both.
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Old 11-21-2017, 08:47 AM
 
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Quote:
Originally Posted by Serious Conversation View Post
Definitely.

I've lived in two state capitals (Des Moines, Indianapolis) and spent a significant amount of time in a third (Boston). I live over four hours away/roughly 300 miles from my current state's capital.

State capitals just have a broader base of everything in general. Indianapolis isn't thought of as a college town, but there's a public research university there that has roughly 30,000 students, along with several smaller schools. Government employment in general tends to be more recession-resistant than a lot of private sector jobs.

Also, state capitals spend heavily on themselves in terms of corporate incentives, infrastructure, you name it.
I would argue Boston is different than Indianapolis or Des Moines, Boston is huge compared to its state so it's government jobs are only enough to support a metro say the size of Lansing. That's a tiny part of the overall economy. Indianapolis is less than 1/2 the size of Boston in a similar sized state so it's % of government workers would have a bigger impact I. The overall economy.

This is mainly because Boston became the capital because it was important, while Indy became important because it was the capital.
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Old 11-21-2017, 09:08 AM
 
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Follow-up question to all this: do you guys think state capitals are more resistant than the major financial hubs of particular states? Think places like:

Albany vs. NYC
Raleigh vs. Charlotte
Sacramento vs. Los Angeles (is San Fran a close runner-up?)
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Old 11-21-2017, 09:13 AM
 
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Richmond, Trenton and Little Rock experienced DEEP declines. Richmond bounced back. Donít know about Little Rock. Harrisburg Pennsylvania is pretty depressed and depressing.
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Old 11-21-2017, 09:14 AM
 
Location: Tennessee
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Quote:
Originally Posted by MrJones17 View Post
Follow-up question to all this: do you guys think state capitals are more resistant than the major financial hubs of particular states? Think places like:

Albany vs. NYC
Raleigh vs. Charlotte
Sacramento vs. Los Angeles (is San Fran a close runner-up?)
Albany is just too small. The thing about Boston being big is true too.

Raleigh may be a little more insulated than Charlotte. Maybe. Both are similar.

I can't imagine the Sacramento being more insulated than larger, more diversified areas.
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Old 11-21-2017, 09:28 AM
 
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Springfield, IL is not a very nice place.
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Old 11-21-2017, 09:30 AM
 
Location: Iowa
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Des Moines' economy seems to be doing quite well and didn't really suffer much during the recession. But I don't think it has anything to do with it being the state capital.

Des Moines' economy is primarily insurance/finance based, and also has seen a few tech jobs recently as well. Not really a lot of government jobs. It's also been Iowa's largest city/metro for a long time, which I think has probably contributed more to its steadily growing economy than being the state capital has.
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Old 11-21-2017, 09:35 AM
 
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Originally Posted by gladhands View Post
Richmond, Trenton and Little Rock experienced DEEP declines. Richmond bounced back. Donít know about Little Rock. Harrisburg Pennsylvania is pretty depressed and depressing.
Harrisburg at least has Hershey nearby with not only Hershey Chocolate, but a Penn State affiliated medical center.
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