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Which city will have a better economy in the future?
Criteria:
- retaining and attracting large corporations (including offices of foreign businesses)
- attracting an educated work force
- city budget and checkbook are balanced
- low unemployment
- impressive GDP and GDP per capita numbers
- manageable cost of living (within the context of income levels)
- generates or attracts venture capital
- high occupancy rates
- growing or at least non-declining population growth
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,049,308 times
Reputation: 4047
Quote:
Originally Posted by PDX_LAX
Which city will have a better economy in the future?
Criteria:
- retaining and attracting large corporations (including offices of foreign businesses)
- attracting an educated work force
- city budget and checkbook are balanced
- low unemployment
- impressive GDP and GDP per capita numbers
- manageable cost of living (within the context of income levels)
- generates or attracts venture capital
- high occupancy rates
- growing or at least non-declining population growth
What say you?
- retaining and attracting large corporations (including offices of foreign businesses):
Neither actually, both are in infavorable locations when it comes to relocation, but Los Angeles probably has the edge being on the west coast and attracting foreign businesses by immigrants from Asia/Latin America.
- attracting an educated work force:
Los Angeles Metro High School Graduate Rate: 76.8%
Los Angeles Metro Bachelors Degree or higher: 29.9% Philadelphia Metro High School Graduate Rate: 87.6%
Philadelphia Metro Bachelors Degree or higher: 32.1%
- city budget and checkbook are balanced
I really don't know, neither are looking so hot right now. Somehow I think Philadelphia is doing slightly better.
- low unemployment:
Philadelphia
- impressive GDP and GDP per capita numbers
Los Angeles has the larger GDP
- manageable cost of living (within the context of income levels)
Philadelphia gets edge.
- generates or attracts venture capital
Los Angeles definitely
- high occupancy rates
No idea... too lazy to look it up right now
- growing or at least non-declining population growth
Los Angeles does better in this regard, Philadelphia just recently started growing again, and by a small amount, and Los Angeles has never faced a population decline before.
Don't know if anyone cares, but I voted Los Angeles for the hell of it. It's too early to tell which one will be better off in 10 years. But I think Los Angeles, especially with the prominence of port/trade with Asia increasing and economic activity over the Pacific increasing. Don't anybody dare say because of Hollywood, my cousin says it's insulting to the residents there when people think of them as a one track industry controlling the whole economy for their metropolitan area.
Exactly. Hollywood only can never make the second largest city in US. Period.
Quote:
Originally Posted by OmShahi
Don't anybody dare say because of Hollywood, my cousin says it's insulting to the residents there when people think of them as a one track industry controlling the whole economy for their metropolitan area.
I am curious because Philadelphia has not weathered of the economic crisis that nicely either, what makes you certain it will be more prominent than Los Angeles in 10 years economically? (in your opinion- not discrediting your idea)
So Per capita Philly has a slight edge and has weathered the crises better than most.
Philly typically has not had as high of highs or as low of lows on the economic cycles and real estate market. It has a fairly diversified economy and many non or less cyclicle industries. But Philly has a good edcuated population and is doing more to retain it's talent.
Last edited by kidphilly; 07-18-2010 at 06:52 AM..
Location: Austin, TX/Chicago, IL/Houston, TX/Washington, DC
10,138 posts, read 16,049,308 times
Reputation: 4047
Quote:
Originally Posted by kidphilly
So Per capita Philly has a slight edge and has weathered the crises better than most.
Philly typically has not had as high of highs or as low of lows on the economic cycles and real estate market. It has a fairly diversified economy and many non or less cyclicle industries. But Philly has a good edcuated population and is doing more to retain it's talent.
Yup
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).
Quote:
Originally Posted by OmShahi
- attracting an educated work force:
Los Angeles Metro High School Graduate Rate: 76.8%
Los Angeles Metro Bachelors Degree or higher: 29.9% Philadelphia Metro High School Graduate Rate: 87.6%
Philadelphia Metro Bachelors Degree or higher: 32.1%
- city budget and checkbook are balanced
I really don't know, neither are looking so hot right now. Somehow I think Philadelphia is doing slightly better.
- low unemployment:
Philadelphia
- manageable cost of living (within the context of income levels)
Philadelphia gets edge.
:
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