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That's my point in calling out this logic as nonsensical. The US economy is way too integrated to claim that one city has a monopoly over an entire industry and that makes it more influential than others.
Houston sort of does have a monopoly on energy. Not that no other city/state does, California, Pennsylvania and all of Texas outside of Houston has energy ties. But energy revolves around Houston. Every company in one way shape or form has a presence in Houston. The NYSE has energy stock center in Houston. The stock market is to Wall Street what energy is to Houston. It’s not the only “city monopolized” industry. big tech revolves around the Silicon Valley. The film industry revolves around Los Ángeles. The cruise industry revolves around Miami. Sure, all of these industries have presence else where but the top dogs and decades worth of investments, studies, etc are there. Yes, there’s more to Houston than energy and more to energy than just Houston but that doesn’t mean the astronomical focus gets places there
2. DC - The White House, the Supreme Court, Congress... The pentagon. All of the industries being named here are directly affected by what happens in DC. Supposing Biden is serious about his energy
3. Bay Area - LA fans will hate me, but the bay is too important economically. I mean seriously. Big tech... finance...
4. LA - The obvious, Hollywood, but it's the true (second city), western USA, and the celebrity hot spot. Culturally affects everyone, as what's seen in entertainment gets decided and published in LA. Also plays the modern bridge between Asia and the USA.
5. Chicago - The capital of Middle America historically, seems to connect all industries into a nucleus.
6. Boston - The higher education capital of the world, all industries here have got influenced by innovation in education in Boston. Plus the nation's biotech hub. Also one of the two most important cities in shaping America's history.
7. Houston - Energy capital of the world, Texas medical center (biggest medical research hub in the world, and soon to be biotech hub). Biggest international port (it's a lot more than just an O&G hub).
8. Philly - Very important hub culturally, education, media, historically (Benjamin Franklin, Declaration of independence, constitution). Almost want to put it top 5.
9. Atlanta - Has become a serious media hub (TV, music). Also a cultural hub, and the busiest airport in the world.
10. Dallas - Doesn't really dominate anything, but the little bit of everything it has combined equals a lot. Somewhat like Chicago.
11. Seattle - Perhaps the second pure big tech hub after the Bay.
Lol. Although I do agree with where you put Philly, nothing in the description is younger than 200 years old.
#5, 9, and 10 can be summed up as logistics hubs with Chicago having a bit of finance and Atlanta with a bit of entertainment
Atlanta is also the emerging hub of FinTech, and is solid in finance as well. Intercontinental Exchange is here, the owner of the NY Stock Exchange and the Chicago BOT. Equifax is here, as well as Invesco - the 4th largest mutual funds manager. This is actually one of the most diverse metropolitan economies in the Country.
2. DC - The White House, the Supreme Court, Congress... The pentagon. All of the industries being named here are directly affected by what happens in DC. Supposing Biden is serious about his energy
3. Bay Area - LA fans will hate me, but the bay is too important economically. I mean seriously. Big tech... finance...
4. LA - The obvious, Hollywood, but it's the true (second city), western USA, and the celebrity hot spot. Culturally affects everyone, as what's seen in entertainment gets decided and published in LA. Also plays the modern bridge between Asia and the USA.
5. Chicago - The capital of Middle America historically, seems to connect all industries into a nucleus.
6. Boston - The higher education capital of the world, all industries here have got influenced by innovation in education in Boston. Plus the nation's biotech hub. Also one of the two most important cities in shaping America's history.
7. Houston - Energy capital of the world, Texas medical center (biggest medical research hub in the world, and soon to be biotech hub). Biggest international port (it's a lot more than just an O&G hub).
8. Philly - Very important hub culturally, education, media, historically (Benjamin Franklin, Declaration of independence, constitution). Almost want to put it top 5.
9. Atlanta - Has become a serious media hub (TV, music). Also a cultural hub, and the busiest airport in the world.
10. Dallas - Doesn't really dominate anything, but the little bit of everything it has combined equals a lot. Somewhat like Chicago.
11. Seattle - Perhaps the second pure big tech hub after the Bay.
Its chief asset and reason for its importance is also why it tends to get slighted in these lists: It's actually the capital of the Caribbean in addition to being America's gateway to Latin America (Mexico excluded).
El mundo Hispanico remains alien to most Americans, even though what should be our 51st state is part of it (and that's one big reason why Puerto Rico isn't our 51st state; besides the partisan considerations, some fear that it might behave within the US as Québec does within Canada, despite increasingly strong sentiments in favor of full statehood there vs; independence or continuing the "free associated state" semi-colony status).
But as Miami has become increasingly tied to the Caribbean and Latin America, it has also become somewhat detached from the rest of the US in popular perception.
Maybe that's what makes its case "complicated." But it seems pretty clear to me.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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That was the case earlier this century, but in recent years more non Hispanic Americans are rediscovering Miami (and SoFla) and moving here and as Miami "re-connects" with the South (not just South America), North and USA.
Domestic buyers are picking up the slack from foreign buyers who have seen their economies back home facing economic difficulties along with devalued currencies:
Though fewer domestic buyers ended up relocating down here to SoFla than anticipated following passage of the Tax Cut and Jobs Act of 2017, that number has surged since Covid with an uptick in work from home and those looking to flee high tax states. Tampa (1st), South Florida (4th) and Orlando (5th) are among the top 5 US Covid moving destinations in the country.
"Florida gained an average of nearly 1,000 per people per day in 2019, but that number could be even higher in 2020 thanks to the pandemic...The share of residential buyers in the Miami area coming from other parts of the U.S. has doubled from a decade ago, ISG added.".
Not only domestic homebuyers, but US businesses are relocating to business friendly Miami and SoFla....Miami (Brickell) has long been known as an international banking center, but in just the past few years prominent US hedge funds have relocated here and elsewhere within the MSA--among the notable names are Carl Icahn, David Tepper and Appaloosa Management, Barry Sternlicht's Starwood Capital, Paul Tudor Jones, and recently Paul Singer's Elliott Management, among others--as Miami expands its portfolio as a financial hub. Blackstone is moving 215 tech jobs to Miami with an average salary of $200,000.
I haven't even touched upon high end restauranteurs and/or outposts (some Michelin) from Napa, NYC, D.C. Philadelphia, and Europe most of whom only open in a select, handful of US cities--not dozens--and select high end retailers who also only open boutiques in select US cities, have chosen Miami as one of those destinations. Not sure they would have done so (nor survive) if the area only catered to people from Latin America and the Caribbean or only service industry employees and part time residents.
I think it is fair to say Miami is evolving and expanding its appeal to domestic residents after having catered to foreigners (though still plenty of those) as a haven where they could safely park their money in real estate--though some (not you) think we only have tourism jobs here and only speak Spanish while those estates, million dollar+ condos and yachts up and down the coast are fake and/or all owned by only 12 wealthy families who live here just 2 months of the year
Miami might be the most misunderstood big city in the country !!...oh yeah, we are known for tourism (including nightlife and the cruise capital of the world)—but not only that.
Quote:
Originally Posted by MarketStEl
Actually, I would put Miami right behind Seattle.
Its chief asset and reason for its importance is also why it tends to get slighted in these lists: It's actually the capital of the Caribbean in addition to being America's gateway to Latin America (Mexico excluded).
El mundo Hispanico remains alien to most Americans, even though what should be our 51st state is part of it (and that's one big reason why Puerto Rico isn't our 51st state; besides the partisan considerations, some fear that it might behave within the US as Québec does within Canada, despite increasingly strong sentiments in favor of full statehood there vs; independence or continuing the "free associated state" semi-colony status).
But as Miami has become increasingly tied to the Caribbean and Latin America, it has also become somewhat detached from the rest of the US in popular perception.
Maybe that's what makes its case "complicated." But it seems pretty clear to me.
Last edited by elchevere; 11-26-2020 at 02:53 PM..
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