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All those points duly noted (below quote) minus the diversified economy part, which I think should have been in the criteria as well. How has Philadelphia's unemployment rate been the past month or two? I know it is lower than Los Angeles's, which has one of the higher unemployment rates of the larger metropolitan areas right now, I believe (from 4 months ago- when I last saw).
9.4 vs 11.4 - both are bad IMHO but the whole country is poor these days
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by kidphilly
9.4 vs 11.4 - both are bad IMHO but the whole country is poor these days
Data is from may 2010
Metropolitan area unemployment configuration
Total Population:
Los Angeles Metropolitan: 12,874,797
Philadelphia Metropolitan: 5,968,252
Population of capable Labor Force:
Los Angeles Metro: 9,955,578
Philadelphia Metro: 4,615,167
Application of current unemployment rate:
Los Angeles Metro: 11.4%
Philadelphia Metro: 9.4%
Final answer of those without employment:
Los Angeles Metro: 1,134,935/9,955,578/12,874,797
Philadelphia Metro: 433,825/4,615,167/5,968,252
^ Format above as (unemployed total/eligible for work/total metro population)
Ratio of population:
Philadelphia/Los Angeles (5,968,252/12,874,797 ) 46.35%
Ratio of unemployed population:
Philadelphia/Los Angeles (433,825/1,134,935) 38.22%
Interesting to say the least, you are right, currently Philadelphia is faring better to the crisis, my gut feeling is telling me that Los Angeles still has a very bright future though due to it's global prominence especially regarding trade regulations with the Pacific Realm.
LA obviously will continue to be the more hip glamorous metro especially the immediate coast but imo it got too big too fast. I'm not very optimistic about its long term future as LA ages and its infrastructure deteriorates. LA's sheer size is going to be a nightmare as it ages and grows poorer.
The LA basin should have been the preeminent city of the West Coast. In my opinon SF and arguably SD has surpassed LA has the West Coasts "signature city". From my perspective the majority of LA somehow morphed into a working class/blue collar city. I just read an article that there are an estimated 1 M illiegal aliens living in LA County. That is unbelievable.
In Philadlephias case the city itself is pretty much maxed out theres really no room left to grow. The city is going to have to create space by demolition and rebuilding. Philadlephias aging process started much sooner than LA's and its regrowth will also happen much sooner imo.
The Philadlephia suburbs approach to growth varies. The PA suburbs are among the staunchest conservative supporters of slow growth. Geography plays a role here as The Pa Burbs are covered with a forested canopy. Its a very slow growing but wealthy area. The South Jersey burbs seem to be much more progressive. 50 years ago South jersey was mostly farmland today its home to 2-3 M people and is the fastest growing region in the Philly area.
Who cares who has the higher GDP. Higher GDP =/= better economy or happiness. Dallas has a lower GDP than LA but look what city is doing best between them. If Philly can lower taxes Philly will rise again. It may never hold LA's GDP but do you think those unemployed people in LA facing foreclosure care about GDP or employment rates when looking to move?
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by RussianIvanov
Who cares who has the higher GDP. Higher GDP =/= better economy. Dallas has a lower GDP than LA but look what city is doing best between them.
I think it's fair to say Texas cities are truly dominating right now though. It has more to do with their tax regulations and the way they handle businesses.
Dallas, Houston, & Austin are pros when it comes to handling the business climate, they are also located in a state where the state constitution bans certain type of taxes. Never will be implemented, but the rise of other forms of taxes may exist- only marginally.
I have spent 14 years in Texas, Dallas & Houston. The rise of any kind of taxes has been marginal at best.
California is possibly the worst state when it comes to taxes, and their climate is driving businesses out. Tech relocations have Dallas is an important tech hub and Houston & Austin for largest growth in tech, most companies are driven out.
Do you remember Bank of America from San Francisco, they took on Charlotte, that was a big hole that Bay Area dug for itself.
I agree, but I feel bigger GDP holds more economic "relevance" but the rate of growth in GDP in which Dallas & Houston is climbing the charts is also important worth noting.
that number of unemployed people in Los Angeles is horrific, that is not a good example of a city staying in the game economically, but honestly I know I am going on a limb here, but their political climate can be to blame for how business is regulated in their state. They are far to liberal for their own good, IMHO.
(Yes I know Kidphilly, I know, the inflation of their GDP's due to oil, but lets just let it be this one time, just once, LOL)
I think it's fair to say Texas cities are truly dominating right now though. It has more to do with their tax regulations and the way they handle businesses.
Dallas, Houston, & Austin are pros when it comes to handling the business climate, they are also located in a state where the state constitution bans certain type of taxes. Never will be implemented, but the rise of other forms of taxes may exist- only marginally.
I have spent 14 years in Texas, Dallas & Houston. The rise of any kind of taxes has been marginal at best.
California is possibly the worst state when it comes to taxes, and their climate is driving businesses out. Tech relocations have Dallas is an important tech hub and Houston & Austin for largest growth in tech, most companies are driven out.
Do you remember Bank of America from San Francisco, they took on Charlotte, that was a big hole that Bay Area dug for itself.
I agree, but I feel bigger GDP holds more economic "relevance" but the rate of growth in GDP in which Dallas & Houston is climbing the charts is also important worth noting.
(Yes I know Kidphilly, I know, the inflation of their GDP's, but lets just let it be this one time, LOL)
Exactly right. Plano I believe has not upped taxes in 15 years. It is perfect. Texas is becoming my utopia I do not care what anybody says about that.
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by RussianIvanov
Exactly right. Plano I believe has not upped taxes in 15 years. It is perfect. Texas is becoming my utopia I do not care what anybody says about that.
Yes. I have seen your posts from before, you used to dislike Texas before I believe?
The politics isn't set in any state, but Texas has what entrepreneur's want and that is a business climate favorable to their growth & relocation. As much as people do in fact bash Dallas & Houston, it does not change the fact that these are two among few cities that are actually doing well in times presently.
Opportunities are created in Texas right now, people normally overlook the fact that the cities are not interesting, but they offer the quality of life right now that California does not. California is becoming/has become way to liberal for it's own good int he sense that the government has a larger presence there and their tax regulations are driving big corporations out. The state may be beautiful, but their way of doing business anymore is not.
Which is a favorable business climate, larger increase in educated population, diversification, relocation of businesses, and creation of businesses.
My mother started her company in Texas, it gave her the right of way to expand from Houston to Dallas, which is something that programming companies would not be able to do so in Illinois due to the cost and regulations.
Plano has just recently passed San Jose as America's richest city, I believe. Sugar Land, Texas (Houston suburb) is pretty close to doing so in a few years as well.
Last edited by DANNYY; 07-18-2010 at 10:08 PM..
Reason: Left out tax incentives portion
Yes. I have seen your posts from before, you used to dislike Texas before I believe?
The politics isn't set in any state, but Texas has what entrepreneur's want and that is a business climate favorable to their growth & relocation. As much as people do in fact bash Dallas & Houston, it does not change the fact that these are two among few cities that are actually doing well in times presently.
Opportunities are created in Texas right now, people normally overlook the fact that the cities are not interesting, but they offer the quality of life right now that California does not.
Which is a favorable business climate, larger increase in educated population, diversification, relocation of businesses, and creation of businesses.
My mother started her company in Texas, it gave her the right of way to expand from Houston to Dallas, which is something that programming companies would not be able to do so in Illinois due to the cost and regulations.
Plano has just recently passed San Jose as America's richest city, I believe. Sugar Land, Texas (Houston suburb) is pretty close to doing so in a few years as well.
Yes I used to hate Houston and Dallas but I was fairly ignorant of Texas then. I used to think they were dull. But I went to a barbecue in Grapevine recently that a friend invited me to and we had two pick up games, one basketball and one football. A bunch of millionaires out playing basketball and football having a cook out it was fantastic. Texas seemed very down home yet lavish at the same time. Texas is the home of the American dream.
Last edited by RussianIvanov; 07-18-2010 at 10:44 PM..
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
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Quote:
Originally Posted by RussianIvanov
Yes I used to hate Houston and Dallas but I was fairly ignorant of Texas then. I used to think they were dull. But I went to a barbecue in Grapevine recently that a friend invited me to and we had two pick up games, one basketball and one football. A bunch of millionaires out playing basketball and football having a cook out it was fantastic. Texas seemed very down home yet lavish at the same time. Texas is the home of the American dream.
You're not alone with that. I used to HATE Houston a lot. If I was on this site 4 years ago, you would probably see a lot of Houston hating from me. It was in the recent 3 years where I opened my eyes to the city more and changed my mentality of how I view a place. Got to know it better.
Quite frankly, the style of living is subjective to each person. It makes sense why someone would want the scenic area of Portland, or the isolation environment of Vegas, but to me the lifestyle of Texas has started to become more appealing.
You have Houston & Dallas, two cities with decent amount of amenities to keep you content. But the style of living puts them well beyond the scale, IMHO.
It's a trade off, say New York City, Chicago, Boston, you get far more city life, and more concentration of city amenities, but the costs can catch up to you as well. Houston & Dallas, you get decent list of amenities, that can get you through happily, unless you strive for even more.
I have a friend who recently opened up a club in Houston, Club Illusion, formerly known as Crobar or something like that, and he has seen epic success at it due to the demand, many people have followed and done the same.
It adds to the nightlife, and it's a quick way to make $$$ when you open businesses like that in hot relocation spots.
If he opened say the same club in New York City, he would have an immense amount of competition, higher taxes, and stricter regulations.
For business owners, I agree, it is where you can take your opportunities and stretch them as far as you want to make more profit.
It's a trade off really, depends on what you value more in your life. The standard of living, or the city access to a desirable mega-city.
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