tag:blogger.com,1999:blog-49578940276878260632024-03-05T09:46:35.026-05:00Technology and the CityHow Technology Advances Transform PlacesUnknownnoreply@blogger.comBlogger108125tag:blogger.com,1999:blog-4957894027687826063.post-17618327137550497182017-01-04T04:52:00.003-05:002018-02-11T16:25:55.326-05:00Self Driving Cars and CitiesIf there's one technology everyone thinks will impact cities in the future right now, it's self driving cars. Now living in the Bay Area, I hear and see constant hype about these things, actually I've seen the real things, with Google logos, moving 10 mph by the Mountain View Caltrain station.<br />
<br />
So how will they impact cities? Will they repeat the automobile patterns of suburban development?<br />
<br />
It doesn't matter.<br />
<br />
Wanna know why?<br />
<br />
Well, first, most technologies that really impact cities aren't foreseen years in advance. Few engineering feats impacted cities in the early 19th century like the Cotton Gin. It allowed New York to surpass Philadelphia before the Erie Canal was built, as Lower Manhattan became the premier port for transferring cotton from Southern plantations to New England mills. Philly couldn't compete due to the cost of going up and down the Delaware River, not to mention the longer distance to New England mill towns than New York had. The reason those New England towns, like Pawtucket and Fall River, grew was their position on waterfalls, which Philly also enjoyed, yet wasn't prepared to take advantage of because city leaders didn't see the impact coming. And neither did anyone else.<br />
<br />
The gin increased the country's cotton output by <b>100-fold</b> from its invention in 1793 to 1825, and port traffic in New York soared as a result. Cotton accounted for nearly half of New York's exports prior to the Civil War. There was no Gartner or IDC report predicting hockey stick growth for Mr. Whitney's machine in the 1790s, but it had a massive impact on American cities.<br />
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There's another reason self-driving cars won't impact cities as greatly as everyone thinks. People-driving Ubers are already doing it. And like the Cotton Gin, no one saw them coming. In DC, many of the top nightlife spots, like Georgetown, 14th Street, H Street NE, and Adams-Morgan, are not especially close to the Metro. But no problem getting an Uber in these neighborhoods. Much of SoMa in San Francisco is in a similar situation.<br />
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The reality is that you are far more likely to sit in the back seat of an Uber between now and 2030 than in the backseat (or passenger seat) of a self-driving car. Why? The replacement cycle for cars is long, and going up, with the average car lasting 12 years now, about 50% higher than 30 years ago. And all those embedded semiconductors that allow a car to drive itself also allow any car to distribute gas precisely through fuel injectors, to avoid drifting into adjacent lines, and to spark the ignition without a distributor. This is why if you own a car built in the last 20 years, you're wasting money on any sort of "tune up". <br />
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The above is all the result of dramatically declining prices for embedded chips, which in turn have produced self-driving capabilities, and have captured the press's imagination much more than distributorless ignitions, because they sound a lot more exciting. These cheap chips have also improved the reliability of cars, and extended their lives, making it possible for modern cars to last much longer than their 1970s ancestors which relied on carburetors, hydraulics and mechanical linkages to distribute fuel, spark the engine, and drive the car. So are you going to trade in your reliable, electronically-controlled Lexus ES300 Hybrid, with 30 payments left, to get a more expensive self-driving version?<br />
<br />
Self-driving cars are not a surprising development for cities the way the Cotton Gin was, and the underlying technology trends supporting them are already at work in existing cars. On top of that, people-driven Ubers are already providing an efficient way to get around cities that no one saw coming ten years ago, and have provided an alternative to public transport. Just ask anyone who tried to catch a cab in the Mission, Adams-Morgan, Belltown, or the Back Bay ten years ago,<br />
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<br />
<br />Unknownnoreply@blogger.com9tag:blogger.com,1999:blog-4957894027687826063.post-13109808029227191552017-01-02T20:31:00.002-05:002017-01-02T20:31:15.450-05:00Close Correlation Between City Growth and MSA Growth this DecadeWhile there is all kind of debate regarding city vs. suburb growth, this decade has seen metro health increasingly tied to core city health. The correlation between population growth in core cities and their respective MSAs for the 2010's is .90, which is exceptionally high. This holds up for the Sunbelt, the West, the Northeast, and the Midwest, though small population changes there distort some of the city growth/MSA growth ratios.<br />
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From 1950 to 2000, the two were often inversely correlated, with many cities declining in growing metros. But this trend has reversed, with one of the most impacted cities of the post-war period, DC, now growing more than 1.5x faster than its suburbs. Overall, most cities are now growing between .8x and 1.5x the rate of their MSAs.<br />
<br />
Individual metro growth rates are notorious for moving up and down, as regional economic strength ebbs and flows, or is impacted by the heavy presence of particular industries. But as regions become more strongly linked to their core cities, they could increasingly become dependent on further strengthening those cities. No one 30 years ago would have predicted such a strong resurgence for DC, especially during a period of sequestration and defense cuts. <br />
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Another important consideration is that many of the fastest growing cities aren't cheap. Seattle is now growing faster than Atlanta, at both the city and MSA levels, in spite of median home prices that are twice as high. Similarly, Denver is growing faster than Phoenix in spite of home prices that are about 50% higher. <br />
<br />
While regions are notoriously poor at coordinating economic development across jurisdictions, suburbs appear to becoming more closely tied to their core cities, and could likely benefit from boosting them further.<br />
<br />
While correlation does not prove causation, this is one hell of a correlation.<br />
<br />
<br />
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse;">
<tbody>
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<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div style="min-height: 14px;">
<br /></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;"><b>Core City % Growth 2010-2015</b></span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;"><b>MSA % Growth 2010-2015</b></span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;"><b>City/MSA Growth Ratio</b></span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;"><b>Difference</b></span><br />
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Pittsburgh</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-0.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-0.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">4.00</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.3%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Boston</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.0%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">4.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.63</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-3.1%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">DC</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">13.2%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.2%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.61</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-5.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Philly</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">2.8%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.8%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.56</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-1.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">New York</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">4.6%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">3.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.48</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-1.5%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Seattle</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">12.5%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.6%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.45</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-3.9%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Minneapolis</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">7.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">5.3%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.40</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-2.1%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Charlotte</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">13.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">9.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.39</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-3.7%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Atlanta</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">10.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.0%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.30</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-2.4%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Miami</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">10.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.0%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.30</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-2.4%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Denver</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">13.7%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">10.7%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.28</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-3.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">LA</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">4.7%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">4.0%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.18</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-0.7%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Portland</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.3%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">7.3%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.14</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-1.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Austin</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">17.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">16.6%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.08</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.3%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">San Diego</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">6.7%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">6.6%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.02</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-0.1%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Chicago</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.00</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">San Francisco</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">7.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">7.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.00</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Phoenix</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">9.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.89</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Las Vegas</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">6.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.3%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.83</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">1.4%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Dallas</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">8.5%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">10.5%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.81</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">2.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Houston</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">9.3%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">12.4%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.75</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">3.1%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Baltimore</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">3.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.03</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">3.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">St. Louis</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-1.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.9%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-1.22</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">2.0%</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">Detroit</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 103.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-5.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 94.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">0.1%</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 125.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">-51.00</span></div>
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 86.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Helvetica; font-size: 12px;">5.2%</span></div>
</td>
</tr>
</tbody>
</table>
Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-4957894027687826063.post-59683925353734195822017-01-02T00:01:00.000-05:002017-03-20T02:11:40.829-04:00Man Made Locations for CitiesIn the <a href="http://www.technologyandthecity.com/2017/01/why-so-many-low-density-cities-below.html" target="_blank">last</a> post, I discussed the low densities of American cities below the 36'30" line of latitude. One factor for this is their locations. Look at a map, San Francisco looks like it should be the spot for a large city, same with New York, Boston, even Charleston. Moving away from the coasts, the river and water intersections by Cincinnati, Cleveland, Chicago, Pittsburgh, Buffalo, Milwaukee, New Orleans, St. Louis, Seattle, and Portland also make decent sized cities in those locations seem very reasonable. And then considering the importance of water power to early manufacturing and milling, you can understand how cities developed near waterfalls at Minneapolis, Baltimore, Philadelphia, and Richmond.<br />
<br />
<b>Made by Man or by Mickey Mouse</b><br />
So you had oceans, water intersections, and fall lines account for much of this country's urban growth, especially in its Northern half. So what happened to the south? Early San Francisco investors were concerned that San Diego would be their main in state rival, and overlooked LA, why did they miss it? Why did Atlanta, only the fourth largest city in its state before the Civil War, become the largest metro in the Southeast? Its downtown isn't even on the river! Charlotte also has the same odd relationship with its river, why did it get so large? Also, why the hell is there a city where Orlando is? Shouldn't Tampa Bay be much larger? Is Mickey really that powerful?<br />
<br />
The technologies that defined American city growth up to about 1850 required certain physical traits. Cities had to accommodate the costs of making and moving goods with clipper ships, cotton gins, river barges, and the like. But as time has gone on, technology has advanced to the point that topography and proximity to water have mattered less. Essentially, technology has allowed large cities to form at what are essentially man made locations. <br />
<br />
In the 1840s, Milwaukee grew over 10x, faster than Chicago, which was booming, but at a slower pace. Chicago ended the decade with a little under 30,000 people, Milwaukee a little more than 20,000. Both were still smaller than Cincinnati, Pittsburgh, and St. Louis, but were growing rapidly due to their locations on the Western side of the Great Lakes. Neither had rail connections to the east, and they could have ended up close competitors. But the 1850s were to rail construction what the 1990s were to fiber optics and Internet infrastructure, and by 1860, Chicago was sailing past Milwaukee. Rail essentially reduced the impact of the city's natural setting, and in the South, it allowed less-than-obvious places, like Atlanta and Charlotte, to surpass fall line cities like Augusta and Columbus, GA, ocean ports like Charleston and Savannah, and ultimately river cities like Memphis and New Orleans.<br />
<br />
<b>Ships to the North, Oranges to the South</b><br />
This move away from natural settings went a step further as technology advanced. Look at a map of Southern California. The port by Coronado Island, San Diego, looks like a much more obvious place for a large city than an area of land 15 miles from any ocean, and adjacent to a river that had to be placed on top of concrete by the Army Corps of Engineers, in order to stop it from flooding in the winter, even though it ran dry in the summer. But that place, LA, grew way beyond its peer to the south.<br />
<br />
LA's location was chosen by Mexican farmers who needed access to the river, and it was setup as a small agricultural community, not a booming Ocean port like San Francisco. And LA's original industry wasn't movies, Disney, or oil, but oranges. This was the same industry that launched another city in an odd spot for a city, Orlando. The underlying technology, refrigerated boxcars, allowed these oranges to be shipped to population centers across the country. These refrigerated boxcars, in turn, encouraged more investment in rail links to these cities, pushing their growth even higher. In 1890, 20 years before the first movie studio opened, and two years before the discovery of oil in Southern California, Los Angeles was already up to 50,000 people, 3x the size of nearby San Diego, which had been expected to become Southern California's answer to San Francisco.<br />
<br />
<b>From Refrigerated Boxcars to the Disney Monorail</b><br />
Orlando never grew like LA did, but the mere fact that oranges and refrigerated boxcars allowed a city to pop up in such an odd place did impact Tampa, just as LA drew people away from San Diego. Tampa was a dense city in 1950, with over 6,500 ppsm, and without a growing city two hours east, could have blossomed into a much larger area. But regardless of what happened to Tampa, the location of Orlando, especially after Mickey and Goofy arrived, could barely be described as a natural setting for a city.<br />
<br />
If you look at most growing regions and cities today, from Charlotte to Phoenix to Atlanta to Dallas to Orlando, they rely very little on water or their natural setting for growth, unlike New York, Boston or San Francisco in their boomtown days. It's easy to say this is all because of cars or something Congress did, but when people chose to haul Citrus to the Midwest or to haul the kids to Disney, I doubt they wrote the House of Representatives.<br />
<br />
<br />
<br />
<br />Unknownnoreply@blogger.com14tag:blogger.com,1999:blog-4957894027687826063.post-76567950433479420482017-01-01T18:39:00.000-05:002017-01-04T04:10:06.455-05:00Why are There So Many Low Density Cities Below 36'30"?Have you ever wondered why so many cities in the South and Southwest have such low densities? Is it history? The heat? Agricultural tradition? Growth during times of car domination?<br />
<br />
I've been looking into this a bit more to figure some of this out.<br />
<br />
<b>Low Density and Low Latitudes</b><br />
If you look at the core cities within the top 50 MSAs, only 19 have densities over 5,000 people per square mile. And of these, just two, LA and Miami, are below the 36'30" line of latitude. 19 others are below this line and have densities under 5,000 ppsm. Meanwhile, among the top 50 MSAs north of the 40th parallel, 11 of 14, or nearly 80%, have core cities with densities over 5,000. Chart below shows this, and please don't ask why I use airport code abbreviations.<br />
<br />
<br />
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse;">
<tbody>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 11.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;"><b>Amount</b></span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 11.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;"><b>Latitude</b></span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 11.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;"><b>Core City Density</b></span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 11.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;"><b>Cities Represented</b></span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 11.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;"><b>over > 5000 ppsm in 1950</b></span></td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 42.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>11</b></span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 42.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">ranked 1 to 50 and North of 40th</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 42.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core City > 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 42.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">LGA, BOS, PVD, BDL, BUF, PIT, CLE, MDW, MKE, MSP, SEA</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 42.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">LGA, BOS, PVD, BDL, BUF, PIT, CLE, MDW, MKE, MSP, SEA</span></td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>3</b></span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">ranked 1 to 50 and North of 40th</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core Under 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">PDX, DTW, SLC</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">PDX, DTW</span></td>
</tr>
<tr>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>6</b></span></div>
</td>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Between 36’30” and 40</span></td>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core City > 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">DCA, BWI, PHL, STL, SFO, SJC</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 27.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">DCA, BWI, PHL, STL, SFO</span></td>
</tr>
<tr>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 36.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>9</b></span></div>
</td>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 36.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Between 36’30” and 40</span></td>
<td style="background-color: #ffe061; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 36.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core Under 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 36.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">RIC, ORF, CVG, SDF, MCI, DEN, SMF, IND, CMH</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 36.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">RIC, ORF, CVG, SDF, MCI, DEN, SMF, IND, CMH</span></td>
</tr>
<tr>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>2</b></span></div>
</td>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">ranked 1 to 50 and South of 36’30”</span></td>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core City > 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">LAX, MIA</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 41.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">MIA</span></td>
</tr>
<tr>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 59.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;"><b>19</b></span></div>
</td>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 59.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">ranked 1 to 50 and South of 36’30"</span></td>
<td style="background-color: #9ce159; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 59.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 178.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 12px; font-stretch: normal; line-height: normal;">Metros with Core Under 5000 people per sq mi</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 59.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 108.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">RDU, CLT, ATL, BHM, TPA, MCO, JAX, MSY, BNA, MEM, OKC, DFW, HOU, AUS, SAT, PHX, SAN, LAS, ONT</span></td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 59.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 137.0px;" valign="top"><span style="color: black; font-family: "helvetica"; font-size: 10px; font-stretch: normal; line-height: normal;">ATL, TPA, BNA, PHX, JAX</span></td>
</tr>
</tbody>
</table>
<br />
Now why is the 36'30" line so important? <br />
<br />
As part of the Missouri Compromise, no new slave state could be admitted above this line. It was also the existing border between Virginia/North Carolina and Kentucky/Tennessee when the law was passed in 1821. But even then, just three of the country's 50 largest cities (Charleston, Savannah, and New Orleans) were South of 36-30. And this did nothing to stop growth in existing slave states, where Memphis shot up into the top 50 by 1860, having only been incorporated in 1826, while Nashville and the Georgia fall line cities of Augusta and Columbus grew into the top 100. (Atlanta did too, but it was still smaller than those two in 1860)<br />
<br />
If we jump ahead to 1950, 41 of the 50 largest cities in the country had densities over 5,000 ppsm (aka people per square mile), far greater than the 19 of top 50 core MSA cities that have these densities today. But the nine that were under 5,000 ppsm, were all south of the 36'30". 1950 was a peak population year for many traditional cities, and the top 50 MSAs still had over 50% of their aggregation populations living in core cities. And this was before widespread air conditioning and suburbanization. It was also two years before Atlanta nearly tripled its land by annexing Buckhead and much of the western half of today's city, pushing its density back under 5,000.<br />
<br />
<b>Annexing Cities vs. Annexing Farms</b><br />
Annexation below the 36'30" was very different than it had been in the North. When Philly annexed the Northern Liberties and Southwark in 1854, they were already existing cities in their own right. Same when Boston picked up Charlestown, Roxbury, and Brighton, and when New York added Brooklyn. Densities of the core jurisdictions kept rising. But Memphis, Charleston, Savannah, Nashville, Jacksonville, Phoenix, and Atlanta added rural places where new housing was planned, but often not yet built, leading to major reductions in densities. All seven cities were over 5,000 ppsm at some point before 1960, but haven't gotten back to that level since.<br />
<br />
Annexation of adjacent rural areas has been far less common above 36'30", occurring primarily in Columbus, Indianapolis, and Louisville. One technique used to do this, county-city consolidation, first occurred through a de-annexation, when San Francisco County was broken off of San Mateo County in 1856.<br />
<br />
One of the distinguishing features of these low density Southern cities was that they had no adjacent cities or towns to absorb like their larger Northern counterparts. There was no equivalent to Minneapolis-St. Anthony, Boston-Charlestown, Manhattan-Brooklyn, Cleveland-Ohio City, Washington-Georgetown, or even Seattle-Ballard. One reason is that the Northern cities were built directly on river banks, with different cities on each side, or as a string of towns near an ocean or a lake, each with their own port. Moreover, these places often had to come together for survival. Beyond just the cities it annexed, Boston had a long competition with nearby Salem for international shipping traffic. It needed to get bigger to finance port expansion. Minneapolis and St. Anthony fought for years across the Mississippi's only waterfall, and were forced to merge to help preserve it. Portland had to surpass nearby Oregon City, while Cleveland and Ohio City fought for dominance on the Cuyahoga before coming together.<br />
<br />
Not all Northern annexations were about regional battles. Chicago acquired Lake View Township (today's Lincoln Park and North Side neighborhoods) because its residents wanted better sewer services. And they joined in 1889 with a density of about 5,000 ppsm. Meanwhile, when Atlanta acquired Buckhead and its Northwest neighborhoods 63 years later, it wasn't because voters wanted services, but the city wanted to add wealth, and the impacted citizens were told they had to join by the state. Moreover, this added 80 square miles of land with barely more than 1,000 ppsm to the city.<br />
<br />
The high capital cost of sewer and water hookups remains a primary driver for annexation today, and has driven mergers of rural areas throughout the southern half of the country since WW2. Moreover, there is a strong history of urban density in low latitudes by the ocean, as LA and Miami have shown, though LA certainly wasn't that way 50 years ago. In 1910, prior to major annexations, Charleston and Savannah had over 10,000 ppsm. Memphis and Nashville were over 5,000 ppsm at this time as well. But most of today's major Southern and Southwestern metros are not on the Ocean nor on a river with heavy barge traffic, and in the cases of Atlanta and Charlotte, their downtowns aren't even on the river. Where would you see such a thing in the North? <br />
<br />
Cities above 36'30", even those in the South, like Richmond and Norfolk, were built on fall lines or ocean ports, much like most Northern cities. But you look at a map, and you can see a city could have formed around the peninsula that's Charleston, the area between Lake Pontchartrain and the Mississippi that's New Orleans, or even along the fall line at Augusta, GA. But Orlando? Really, Mickey Mouse is that powerful? And then what about San Diego? Shouldn't it be larger than LA, where downtown is 15 miles from the port?<br />
<br />
More on this in an upcoming post.<br />
<br />
<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-22395523875462619162016-01-07T00:07:00.000-05:002016-01-07T00:07:21.082-05:00Metros With Most S&P 500 Headquarters<br />
About 64% of the companies in the S&P 500 are based in or near the top 15 MSAs, even though those regions account for just over 1/3rd of all jobs. Moreover, the index includes some overseas corporations, so the top 15's share of domestically-HQ'd companies is closer to 70%. As I mentioned in <a href="http://technologyandthecity.blogspot.com/2015/12/the-new-economy-bikini-waxes-car.html" target="_blank">the last post,</a> about 80% of all jobs being created now are in face-to-face professions...from waiters to doctors to bikini waxers. But the S&P companies listed here are the ones creating high paying jobs, from programmers to financial analysts, that don't require face-to-face customer contact, and often distinguish one region from another.<br />
<br />
NY and the Bay Area own the list. I didn't look at revenue growth, but I would imagine the Bay Area blows away NY here. In addition to financial providers, the Tri-State area is heavy on consumer, media, and advertising including Estee Lauder, Colgate-Palmolive, and Omnicom. The Bay Area must have 90% share of the companies Jim Cramer screams about (both happily and angrily), with Charles Schwab, Visa, and Wells Fargo joining many of the well-known tech companies based in or near San Francisco.<br />
<br />
Bay Area companies are worth over $4 trillion out of the $20 trillion U.S. total capitalization. And this share is likely to grow along with the revenue of the many tech companies based there. Seattle has over half a trillion of market value across just Microsoft and Amazon, but the other nine companies based in that region include Nordstrom, Weyerhauser, Costco, and Starbucks, and are mostly in other sectors of the economy. <br />
<br />
Unsurprisingly, Houston is dominated by energy, and the only other region running a little high for its size is Boston, which houses a mix of industries including TripAdvisor, Akamai, Staples, Biogen, and State Street Financial. Its about to lose its biggest tech representative, EMC, as the storage provider is in the process of being acquired by Dell.<br />
<br />
<br />
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse;">
<tbody>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">NY Tri-State</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">88</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">SF Bay</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">47</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Houston</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">24</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Chicago</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">24</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Boston</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">20</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Dallas</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">19</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">LA + IE</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">16</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">DC Metro</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">15</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Minneapolis</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 16.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">14</span></div>
</td>
</tr>
<tr>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 127.0px;" valign="top">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Atlanta</span><br />
</td>
<td style="border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 17.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top">
<div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">13</span></div>
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Seattle</span><br />
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">11</span></div>
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Philly </span><br />
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">10</span></div>
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Detroit </span><br />
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Miami + Ft L + WPB</span><br />
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">Phoenix</span><br />
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: DIN Alternate; font-size: 15px;">5</span></div>
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Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4957894027687826063.post-86833656518846698502015-12-27T00:10:00.004-05:002017-03-20T02:12:55.704-04:00The New Economy - Bikini Waxes, Car Repairs, and Emergency Rooms<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif; font-size: medium;">So many cities today claim that they're centers of health care and education. And as far as I can tell, they're all right. In an economy defined by electronic communication, <b>face-to-face communication</b> has become the scarce resource that defines job growth, from retail to health care to teaching to construction to real estate agents to nail salons to mechanics to bartenders. And as industries, Health Care and Education sound the best of this bunch, so you don't find economic development agencies bragging about regional strength in cosmetic services, but I'm pretty sure no one's proposing a technology that will usher in an era of "virtual" bikini waxes. </span><br />
<span style="font-size: medium;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Of the 211,000 net new jobs in <a href="http://www.bls.gov/news.release/empsit.t17.htm" target="_blank">the last employment report</a>, about 80% were in categories, like those above, that require direct contact with the customer or end user. "Food Service and Drinking Places" job growth of 31k far outpaced the 28k in all "professional and technical services", as did the 32k new jobs in "health care and social assistance". </span></span><br />
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<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">The top employers in many cities and states are no longer Fortune 500 companies, but universities and hospitals. Largest employers in LA? The County, the City, and the School District. Is that because they don't have the San Francisco's tech economy? Not quite. The Bay Area's biggest employers are Kaiser Permanente, City and County of San Francisco, UC-Berkeley, and UCSF. </span></span><br />
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<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">So while face-to-face communication is the scarce resource that defines most jobs today, those that don't require direct contact with the customer are often the highest paying, and often the ones that set more expensive regions apart from less expensive ones. Moreover, the primary economic impact of adding more regional jobs in tech, biotech and non-consumer financial services is often greater wealth, as opposed to significantly more jobs in other service sectors. Outside of the Bay Area, Boston is a good example of this, where Akamai, HubSpot, Biogen, and other publicly traded companies add billions of equity value on top of an already large base of education and health care jobs. </span></span><br />
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<span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">Even where little wealth is added, such as with heavy Federal employment, regions are better off defining themselves by the non face-to-face sectors where they're strong, even if those sectors account for a small percentage of overall jobs. Philly's "eds and meds" is as distinguishable as the "Silicon Beach/Forest/Alley/Dominion/Prairie/Pick-Geographic-Term" that still gets overused to describe technology regions outside the Bay Area. And in terms of attracting residents from other areas, 2000-era Creative Class crap could be far less effective than standing out as a clear leader in one industry. Especially when that one industry will never employ more than 20% of your workforce.</span></span>Unknownnoreply@blogger.com11tag:blogger.com,1999:blog-4957894027687826063.post-56151810288338686082015-09-26T13:36:00.000-04:002015-09-26T13:36:06.165-04:00Right-to-Work States Lead Midwest Job Creation<span style="font-size: large;">Over the last three years, Michigan, Indiana, and Wisconsin enacted Right-to-Work laws, and today, these three states lead the Midwest in job creation. At 2.7%, Michigan is adding jobs at a rate faster than the national average, and Metro Detroit employment is growing at nearly double the rate of Metro Chicago.</span><div>
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<span style="font-size: large;">While it's obviously not clear that all the gains in these states are due to the RTW laws, the forced union state in the middle, Illinois, is lagging severely. Chicago's job count has grown at a below average 1.5% over the last year, but the rest of the state has actually lost jobs in spite of an improving national economy that's added over 2 million jobs. The state is fairly close to being in a jobs recession, and Caterpillar's recent layoff announcement won't help.</span></div>
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<span style="font-size: large;">Milwaukee isn't adding jobs at much faster pace than Chicago, but the rest of Wisconsin is, from Green Bay to Madison to Appleton. Old industrial Indiana cities like Evansville, Fort Wayne, and Muncie are all growing employment at faster than the national average. </span></div>
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<span style="font-size: large;">Right-to-Work is not a guarantee of success. Virginia's growing its job count at a weak 1.4%, due to its excessive dependence on military spending. RTW North Dakota has lost jobs over the last 12 months due to falling oil prices. Ohio's hanging in there in spite of its new RTW neighbors, and Toledo is benefitting from its proximity from Detroit's new found growth. However, Ohio's 1.6% job growth rate is more than a point lower than the rate on the other side of its northern and western borders, where workers now enjoy freedom from forced union dues payments. </span> </div>
Unknownnoreply@blogger.com9tag:blogger.com,1999:blog-4957894027687826063.post-32747031091256672242015-09-25T17:34:00.000-04:002015-09-25T17:36:23.148-04:00Six Figure Cities<span style="font-size: large;">Doing some more Indeed mining, was interested to see where the six figure jobs are. Running at a 25 mile radius to the main downtown, which gets close to MSA-level, top 10 were:</span><br />
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<span style="font-size: large;">1. NY - 17,737 openings > $100k</span><br />
<span style="font-size: large;">2. SF - 6,527 openings, yes it beat L.A.</span><br />
<span style="font-size: large;">3. DC - 5,701</span><br />
<span style="font-size: large;">4. Boston - 5,576 a shutdown or sequester away from topping DC</span><br />
<span style="font-size: large;">5. Chicago - 5,009</span><br />
<span style="font-size: large;">6. San Jose - 4,446</span><br />
<span style="font-size: large;">7. LA - 3,908 more on this below, barely beat Seattle</span><br />
<span style="font-size: large;">8. Seattle - 3,058, only top 10 for $100k's that's under 2 million total MSA jobs</span><br />
<span style="font-size: large;">9. Atlanta - 2,877</span><br />
<span style="font-size: large;">10. Dallas - 2,643</span><br />
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<span style="font-size: large;">Surprises, Thoughts, and Comments:</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">1. Philly didn't make it. It was 12th. It's got about 2.8 million MSA jobs, slightly more than Boston, but less than 1/2 as many six figure jobs. But then this starts to make sense when you look at how much cheaper class A space is in Center City compared to downtown Boston.</span><br />
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<span style="font-size: large;">2. LA has fewer 100k jobs in a 50 mile radius than San Francisco has in 25. </span><br />
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<span style="font-size: large;">3. Seattle seemed high, even with Amazon and Microsoft. Some of this reflects its overall strength, with 4% annual job growth, among the highest in the country, but also the strength of its downtown, and the fact that most of its large suburban submarkets, especially downtown Bellevue, are reasonably close. 70% of the 100k jobs within a 50 mile radius of the Space Needle were also within a 5 mile radius. In DC and Boston, this ratio was less than 50%, reflecting more suburban jobs paying >$100k in those regions.</span><br />
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<span style="font-size: large;">4. The ratio mentioned above - 100k's within 5 miles/100k's within 50 miles was exceptionally low in LA - just 33%. Not surprising, but the Bay Area had over 11,000 within 50 miles of San Francisco, which was twice as many as LA had within 50 miles.</span><br />
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<span style="font-size: large;">5. Nearly 10% of all Boston listings showed up as paying > $100k, a level matched only by San Francisco and New York. More than 10% of all $100k listings nationally were within 5 miles of Lincoln Center, or essentially in Manhattan.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">6. Wasn't Top 10, but Austin had more 100k's than Phoenix, Orlando, Tampa, or Las Vegas. Maybe I'll post more on this.</span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-44051494538031596722015-09-24T07:33:00.000-04:002015-09-24T07:44:04.299-04:00Test Tube Cities<span style="font-size: large;">Few things have had stronger staying power in the economic development business than pictures of lab coat techs starting at test tubes. And with about 20 regions claiming to be top 5 in biotech, thought I'd do an Indeed search to see how many openings each metro actually had in this field.</span><br />
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<span style="font-size: large;">Washington, DC. Lots of hype about the 270 Biotech corridor, Human Genome, and MedImmune. Within 50 miles of NIH's Bethesda HQ, 1,275 biotech jobs.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Boston. Research, universities, more research, MIT, Harvard, Gronk (really is an amazing tight end, look up his stats). Within 50 miles of Biogen HQ in Kendall Square, 2,996 jobs.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Seattle. Paul Allen's money, Bill Gates's money, the intended biotech campus turned Jeff Bezos HQ in South Lake Union. Within 50 miles of the Westlake Avenue Streetcar (don't call it the SLUT anymore), just 379 biotech jobs. Wow. San Diego came in higher at 785.</span><br />
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<span style="font-size: large;">San Francisco. 2,356.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Outside of the Northeast Corridor and the Bay Area, only other regions I found over 300 were Chicago at 607, and LA at 814.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">So within the Northeast Corridor, there's a steady flow of companies from NIH to MIT. Made sense then to run some 25 mile searches as well.</span><br />
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<span style="font-size: large;">1,096 jobs within 50 miles of the Liberty Bell, but only 526 within 25 miles of the Philadelphia landmark. Similar numbers within 25 miles of Princeton University, but 2,139 within 50 miles of that school, where you can tap into both Philly and NY Metro areas. <i><b>There are more biotech jobs within 50 miles of Princeton than there are within 50 miles of Manhattan.</b></i> Some of this is because New Jersey has a lot more going on with traditional pharma than Connecticut.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Also wanted to see how these places measured up in terms of VC raised, based off of data in the PwC Moneytree Survey. Metro Boston and the Bay Area are tied at about $2.1 billion biotech raised over the last 12 months. Metro NY, Philly, and DC each have done about 1/10th this, less than San Diego and Seattle. So outside of Boston, the NE Corridor seems to be pulling in a lot of old school pharma.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Boston's clearly #1 with San Francisco #2. After that, it's a huge drop off to #3, with San Diego and Seattle in a tie if you're looking at edgier, experimental companies, and NJ Turnpike Exit 7 getting #3 if you pull in biotech jobs at older pharmaceutical companies. So no matter how many pictures of lab techs starting at test tubes are on your region's economic development website, pretty good chance it can't compete with Exit 7.</span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-14032164658505183412015-08-09T11:36:00.001-04:002015-08-09T11:36:27.931-04:00Venture Capital at a 15 Year High, Bay Area Over 50% of Total Raised<span style="font-size: large;">The <a href="https://www.pwcmoneytree.com/CurrentQuarter/ByRegion">Q2 PWC Moneytree data</a> is out, and at $17.5 billion raised, it was the biggest quarter for VC raised since Q4 2000. But some metro areas still haven't seen a comeback in venture activity. Metro DC companies raised over $1 billion in 2000's final quarter, but just one fifth of that this past quarter. The DC area had telecom back then, which receives just about nothing now, as well as AOL, which recently sold for a meager $4 billion, just 1/3rd the value of current day Bay Area startups like Pinterest and Dropbox.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">The Bay Area domination grew, accounting for 52% raised, four times as much as #2 New York, and nearly an all-time record in total raised for that region. In 2000, it picked up about 40% of venture-funds raised. The top five metros, which included Boston, LA, and Seattle, accounted for 85% of all funding raised. </span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">The Northwest, which is virtually all Seattle companies, came in at just 3%. This is out of proportion with that area's share of public companies, which include Microsoft, Amazon, Tableau, Zillow, F5 Networks, and Expedia. Perhaps Seattle companies are somehow more successful at growing and staying independent? </span><br />
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<br />Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4957894027687826063.post-55615752262536838782015-08-08T14:55:00.001-04:002015-08-08T14:56:24.956-04:00San Francisco's Getting Wetter?<span style="font-size: large;">One of the big challenges with global warming is dealing with the large variances in annual data, which have always been an issue with weather forecasting. But along with global warming, most U.S. cities are also getting wetter. And in spite of all the drought news of recent years, San Francisco is no exception.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Since 1945, average rainfall in San Francisco has increased 0.4 inches per decade according to NOAA. But 2013 was exceptionally dry, with just 3.3 inches, and 2015's only seen 3 inches so far (though Dec 2014 had over 11 inches).</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Much of the drought is also due to the low snowpack in the Sierras. But here again, the data shows no long term trend <a href="http://www.sfgate.com/science/article/Study-Sierra-snowfall-consistent-over-130-years-3331631.php">towards less snow</a> in that mountain range, just high seasonal variations. So there's very little evidence the current drought has anything to do with global warming.</span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-31235420583152614662015-08-08T09:36:00.001-04:002015-08-08T09:37:01.833-04:00Uber Producing 3.6-5.6% Reduction in Drunk Driving Deaths<span style="font-size: large;">A <a href="http://dcinno.streetwise.co/2015/06/23/sharing-economy-ubers-9-biggest-successes-failures/">new study</a> out of Temple University claims Uber is reducing drunk driving deaths by precisely 3.6 to 5.6%. Number seems a little precise, but who knows, maybe the author has Asperger's. Either way, Uber is a great alternative not just to driving, but public transportation, when drunk, especially when it's 1am and the next train isn't coming for 20 minutes.</span>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-82832598586775276062015-08-07T08:55:00.000-04:002015-08-08T09:10:38.646-04:00Los Angeles Has Warmed 3 Degrees Over the Last Century, But Baton Rouge Has Gotten Cooler<span style="font-size: large;">Climate data offers a lot of interesting details that go well beyond the tired believe it/don't believe it headlines in the press. The <a href="http://www.epa.gov/climatechange/science/indicators/weather-climate/temperature.html">EPA</a> recently published a chart showing average temperature growth across the U.S. since 1900. Interestingly, many of the areas warming up the most are colder and drier, while the hot, humid Gulf Coast hasn't warmed at all, and has even gotten cooler in some spots.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Los Angeles has seen average temperatures rise three degrees over this time period according to the EPA. But annual deviations often exceed this level, which means it's possible to not to sense global warming is occurring at all. For example, the <a href="http://www.latimes.com/local/california/la-me-extreme-heat-20150514-htmlstory.html">average temperature in LA was 64 degrees</a> in 2012, same as it was in 1930. But it shot up to 68 degrees in 2014. Though this was less than the all-time peak of 69 degrees reached twice over thirty years ago, but hasn't been reached since. However, from 1880 to 1914, LA only averaged 64 degrees or higher once. While from 1980 to 2014, it never averaged less than 64 degrees.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">With long-term average annual increases not much larger than the standard deviation in annual temperature, it's very easy to think there is no warming. Moreover, it makes dire predictions less credible, because while extremes could occur, there will also be individual years a century from now that are no warmer than today, even in a climate that's warmed by a few degrees.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">In addition to the deviations among years, deviations among places are also important to acknowledge. While it's an anomaly, Alabama has actually gotten cooler over the last 100 years. The humid Southeast has been far less impacted by increased CO2 than the arid Mountain West. While there is no doubt humans are on average warming the planet, climate science would be far more credible if it focused more on the variances in today's impacts, and less on questionable predictions.</span><br />
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<br />Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-18822867594837362912015-06-03T21:58:00.000-04:002015-06-03T22:03:54.836-04:00MSA Jobs - Seattle, San Francisco, and Dallas Lead the Way<span style="font-size: large;">Highlights from this morning's MSA jobs report:</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">Houston continues to see a major slowdown in growth due to oil prices. Two years ago, it was adding jobs at a rate of 110,000 annually, 3rd in the country after New York and LA, and at a rapid 4+% growth rate. Now it's under 3%, and is adding jobs more slowly than Detroit, <b>which now leads the Midwest</b> on a percentage basis, and almost on an absolute basis, which could be due to Michigan's passage of right-to-work labor laws.</span><br />
<span style="font-size: large;"><br /></span>
<span style="font-size: large;">DC's come back from the dead, and has surpassed the other I-95 markets in the Northeast, but technology continues to lead the way, with the Bay Area topping 4% and Seattle at 3.9%. </span><br />
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<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;"><b>Metro Area</b></span></td>
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;"><b>Total Jobs</b></span></div>
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<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;"><b>Jobs Added Last 12 Months</b></span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #aaaaaa #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 105.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;"><b>% Growth Last 12</b></span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">NY Tri-State</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">9,227.2</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">135.9</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1.5</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">LA/Orange/Inland Empire</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">7,185.6</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">212.3</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3.1</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Chicago</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">4,530.0</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">60.2</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1.3</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">4</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Dallas</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3,370.5</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">125.8</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3.9</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">5</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">SF Bay Area</span></td>
<td style="background-color: white; border-color: #000000 #000000 #aaaaaa #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3,294.6</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #000000 #aaaaaa #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 161.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">123.1</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #000000 #aaaaaa #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 105.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">4.2</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">6</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">DC</span></td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 93.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3,167.0</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">65.6</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.1</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">7</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Houston</span></td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,972.7</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">69.1</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.4</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">8</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Philly</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,815.8</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">31.6</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1.1</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">9</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;"> Boston</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,621.7</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">44.3</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1.7</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">10</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Atlanta</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,566.3</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">83.2</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3.4</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">11</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Miami</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,503.8</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">82.8</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3.4</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">12</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Detroit</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1,926.3</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">52.4</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.8</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">13</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Minneapolis</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1,912.9</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">34.6</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1.8</span></div>
</td>
</tr>
<tr>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">14</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Phoenix</span></td>
<td style="background-color: #bfbfbf; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1,906.6</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">51.3</span></div>
</td>
<td style="background-color: #bfbfbf; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.8</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">15</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Seattle</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1,887.1</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">70.3</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 109.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">3.9</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="min-height: 14px; text-align: right;">
<br /></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Total Top 15 Metros</span></td>
<td style="background-color: white; border-color: #000000 #aaaaaa #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">51,888.1</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #aaaaaa #aaaaaa #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 20.0px; padding: 0.0px 2.0px 2.0px 2.0px; width: 165.0px;" valign="middle"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">1,242.5</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #000000 #000000 #aaaaaa; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 14.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 105.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.4%</span></div>
</td>
</tr>
<tr>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="min-height: 14px; text-align: right;">
<br /></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 138.0px;" valign="top"><span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">Total U.S.</span></td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 89.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">141,367.0</span></div>
</td>
<td style="background-color: white; border-color: #aaaaaa #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 161.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2,982.0</span></div>
</td>
<td style="background-color: white; border-color: #000000 #000000 #000000 #000000; border-style: solid; border-width: 1.0px 1.0px 1.0px 1.0px; height: 13.0px; padding: 4.0px 4.0px 4.0px 4.0px; width: 105.0px;" valign="top"><div align="right" style="text-align: right;">
<span style="-webkit-text-stroke-color: rgb(0, 0, 0); color: black; font-family: Gill Sans; font-size: 12px;">2.1%</span></div>
</td>
</tr>
</tbody>
</table>
Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-54375153266253140552011-04-06T07:58:00.000-04:002011-04-06T07:58:19.924-04:00The Tenderloin - The Next Sunnyvale?Just about any visitor to San Francisco who walks down Market Street past the Westfield Mall notices how the neighborhood progressively worsens. Tourists are sometimes shocked to find so many seedy neighborhoods not far from the expensive hotel/corporate office tower areas they stay in closer to downtown and Union Square. The city is hoping to fix up the neighborhoods just west of downtown by offering a tax exemption to companies that locate there.<br />
<br />
San Francisco has an increasingly well-known 1.5% tax on corporate payrolls. This tax has done little to stop startups from increasingly favoring the city over distant Valley suburbs many employees don't want to commute to. Zynga, Yelp, and many A round Internet service firms have all chosen to stay in the city rather than trot out to Mountain View or Sunnyvale like most web startups did in the 90s. But with Twitter threatening to move just south of the city line, the city felt unusual pressure to retain a corporate tenant. <br />
<br />
The tax isn't going away, but it is being temporarily lifted for companies that locate in the Tenderloin/Mid Market areas. I've visited San Francisco probably more than any U.S. city I've never actually lived in, and walked through these areas during daylight and had no problems. They're not atrocious ghettos, but they stand out because of their proximity to downtown. Not unlike how South of Market used to be before it began gentrifying in 2000 after the completion of Pac Bell/AT&T Park.<br />
<br />
While I doubt the Tenderloin will be transformed like South of Market was, there is an opportunity here to take San Francisco's increasing ability to draw startups away from Silicon Valley, and use it to improve some dreary parts of the city. Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-12017450683064249542010-12-22T07:33:00.000-05:002010-12-22T07:33:28.863-05:00Did People in Atlanta Forget to Send in Their Census Forms?I've been growing through the Census data that came out yesterday, and the final figure of 308,745,538 was surprisingly low considering the '09 estimate was 307,006,550. 1.7 million new Americans in 9 months works out to an annual growth rate of just 2.26 million. (The Census is as of April 1, annual population estimates July 1) <br />
<br />
The very slow 09-10 growth wasn't just from the recession, but was the result of some downward revisions. Georgia, for example, had 9.829 million in the '09 estimate, but just 9.687 million in the official '10 count. It trailed Michigan by 140,000 in '09 for 8th largest, but that gap grew to 204,000 in the final Census count. So while I thought for sure Michigan would drop to 9th this year, but it now looks like that will happen in '12 or '13. Georgia also had a 449,000 person lead on North Carolina, which is #10 in population, in 2009, but came out ahead by just 152,000 in the final '10 count. Not sure what was going on with the Georgia population estimates over the last 10 years, but the state still gained a Congressional seat even with the surprisingly low final total it posted for 2010.Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-4957894027687826063.post-81326515107925811692010-11-18T08:13:00.000-05:002010-11-18T08:13:31.150-05:00California Has 33 NASDAQ 100 Technology Companies, Texas Has 2I enjoyed reading Joel Kotkin's recent article on how Texas is trumping California in economic development, taxes, and other items important to growing a state economy. And for any state planning a typical retail, education, health care type of economy, everything he said is right. However, when it comes to developing a regional technology industry, taxes and government dysfunction have little to do with economic development.<br />
<br />
California, the model of high taxes, union ownership of state legislators, and bossy government run by inept bureaucrats, is home to 33 of the 62 technology companies in the NASDAQ 100, according to a recent analysis I put together. Texas is home to 2 - Dell and BMC Software. My business-friendly home state of Virginia is home to just 1- the holding company spun out of the Sprint/Nextel merger. No other state has more than 4, and the one state with 4 is Massachusetts, 3 of which are biotech companies HQ'd in Cambridge, a city with one hell of a pinko legacy.<br />
<br />
Building a technology economy first requires a technology community. All the garage startups of legend didn't choose their location because of tax incentives, but through collaboration between people with common interests in uncommon topics. Few places outside of Silicon Valley have this. Still, every region/state/city/jursidiction with an econ dev budget is still wasting taxpayer dollars trying to promote itself as a technology hub. But if that's what they really want, then the model isn't Texas, but California. <br />
<br />
<br />
<table border="0" cellspacing="0" cols="5" frame="VOID" rules="NONE"><colgroup><col width="280"></col><col width="86"></col><col width="113"></col><col width="86"></col><col width="86"></col></colgroup> <tbody>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18" width="280"><a href="http://www.firstsolar.com/"><span style="color: black;">First Solar, Inc.</span></a></td> <td align="LEFT" bgcolor="#ffffff" width="86"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=FSLR">FSLR</a></span></td> <td align="LEFT" bgcolor="#ffffff" width="113"><span style="color: black;">Tempe</span></td> <td align="LEFT" bgcolor="#ffffff" width="86"><span style="color: black;">Phoenix</span></td> <td align="LEFT" bgcolor="#ffffff" width="86"><span style="color: black;">Arizona</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.microchip.com">Microchip Technology Incorporated</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=MCHP">MCHP</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Chandler</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Phoenix</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Arizona</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.activision.com/">Activision Blizzard, Inc</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ATVI">ATVI</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Santa Monica</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">LA</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.adobe.com/">Adobe Systems Incorporated</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ADBE">ADBE</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Jose</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.altera.com/">Altera Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ALTR">ALTR</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Jose</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.amgen.com">Amgen Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=AMGN">AMGN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Thousand Oaks</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">LA</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.apple.com">Apple Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=AAPL">AAPL</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Cupertino</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.appliedmaterials.com">Applied Materials, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=AMAT">AMAT</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Santa Clara</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.autodesk.com/">Autodesk, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ADSK">ADSK</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Rafael</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.broadcom.com">Broadcom Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=BRCM">BRCM</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Irvine</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">LA</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.cisco.com/">Cisco Systems, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CSCO">CSCO</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Jose</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;">DIRECTV</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=DTV">DTV</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">El Segundo</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">LA</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.ebay.com">eBay Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=EBAY">EBAY</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Jose</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.ea.com/">Electronic Arts Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ERTS">ERTS</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Redwood City</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.google.com">Google Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=GOOG">GOOG</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Mountain View</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.illumina.com">Illumina, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ILMN">ILMN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Diego</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Diego</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.intc.com">Intel Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=INTC">INTC</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Santa Clara</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.intuit.com/">Intuit Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=INTU">INTU</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Mountain View</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.intusurg.com/">Intuitive Surgical, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ISRG">ISRG</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Sunnyvale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.KLA-Tencor.com">KLA-Tencor Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=KLAC">KLAC</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Milpitas</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.lamrc.com/">Lam Research Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=LRCX">LRCX</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Fremont</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.invitrogen.com">Life Technologies Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=LIFE">LIFE</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Carlsbad</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Diego</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.linear-tech.com/">Linear Technology Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=LLTC">LLTC</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Milpitas</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.logitech.com">Logitech International S.A.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=LOGI">LOGI</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Fremont</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.marvell.com">Marvell Technology Group, Ltd.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=MRVL">MRVL</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Santa Clara</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.maxim-ic.com/">Maxim Integrated Products, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=MXIM">MXIM</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Sunnyvale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.netapp.com/">NetApp, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=NTAP">NTAP</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Sunnyvale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.nvidia.com/">NVIDIA Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=NVDA">NVDA</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Santa Clara</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.oracle.com/corporate/">Oracle Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ORCL">ORCL</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Redwood City</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.qualcomm.com/">QUALCOMM Incorporated</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=QCOM">QCOM</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Diego</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Diego</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.sandisk.com/">SanDisk Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=SNDK">SNDK</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Milpitas</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.symantec.com/">Symantec Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=SYMC">SYMC</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Mountain View</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.verisign.com">VeriSign, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=VRSN">VRSN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Mountain View</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.investor.xilinx.com">Xilinx, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=XLNX">XLNX</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">San Jose</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.yahoo.com">Yahoo! Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=YHOO">YHOO</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Sunnyvale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">SF Bay Area</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">California</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.dishnetwork.com">DISH Network Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=DISH">DISH</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Englewood</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Denver</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Colorado</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;">Liberty Media Corporation</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=LINTA">LINTA</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Englewood</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Denver</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Colorado</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.priceline.com">priceline.com Incorporated</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=PCLN">PCLN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Norwalk</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Connecticut</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.citrix.com">Citrix Systems, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CTXS">CTXS</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Fort Lauderdale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Miami/Ft. Lauderdale</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Florida</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.garmin.com">Garmin Ltd.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=GRMN">GRMN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Olathe</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Kansas City</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Kansas</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.idecpharm.com">Biogen Idec Inc</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=BIIB">BIIB</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Cambridge</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Boston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Massachusetts</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.genzyme.com/ir/gg.htm">Genzyme Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=GENZ">GENZ</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Cambridge</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Boston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Massachusetts</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.hologic.com">Hologic, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=HOLX">HOLX</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Bedford</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Boston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Massachusetts</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.vpharm.com/">Vertex Pharmaceuticals Incorporated</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=VRTX">VRTX</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Cambridge</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Boston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Massachusetts</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.cerner.com/">Cerner Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CERN">CERN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">North Kansas City</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Kansas City</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Missouri</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.sial.com/sig-ald">Sigma-Aldrich Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=SIAL">SIAL</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">St. Louis</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">St. Louis</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Missouri</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.adp.com">Automatic Data Processing, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=ADP">ADP</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Roseland</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New Jersey</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.celgene.com">Celgene Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CELG">CELG</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Summit</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New Jersey</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.cognizant.com">Cognizant Technology Solutions Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CTSH">CTSH</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Teaneck</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New Jersey</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.cai.com">CA Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CA">CA</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Islandia</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New York</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.paychex.com">Paychex, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=PAYX">PAYX</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Rochester</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Rochester</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New York</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;">Virgin Media Inc.</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=VMED">VMED</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New York</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">NY Tri-State</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">New York</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.flir.com">FLIR Systems, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=FLIR">FLIR</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Wilsonville</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Portland</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Oregon</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.cephalon.com">Cephalon, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CEPH">CEPH</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Frazer</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Philadelphia</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Pennsylvania</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.comcast.com/">Comcast Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=CMCSA">CMCSA</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Philadelphia</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Philadelphia</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Pennsylvania</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.dentsply.com">DENTSPLY International Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=XRAY">XRAY</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">York</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">York</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Pennsylvania</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.bmc.com/">BMC Software, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=BMC">BMC</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Houston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Houston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Texas</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.dell.com/">Dell Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=DELL">DELL</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Round Rock</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Austin</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Texas</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.nii.com">NII Holdings, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=NIHD">NIHD</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Reston</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Washington DC</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Virginia</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.amazon.com">Amazon.com, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=AMZN">AMZN</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Seattle</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Seattle</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Washington State</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.expedia.com">Expedia, Inc.</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=EXPE">EXPE</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Bellevue</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Seattle</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Washington State</span></td> </tr>
<tr> <td align="LEFT" bgcolor="#ffffff" height="18"><span style="color: black;"><a href="http://www.nasdaq.com/asp/offsite_activity.asp?content=http://www.microsoft.com/">Microsoft Corporation</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;"><a href="http://quotes.nasdaq.com/Quote.dll?page=multi&mode=stock&symbol=MSFT">MSFT</a></span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Redmond</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Seattle</span></td> <td align="LEFT" bgcolor="#ffffff"><span style="color: black;">Washington State</span></td> </tr>
</tbody> </table>Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-85021381277125922792010-10-19T01:27:00.000-04:002010-10-19T01:27:15.509-04:00What Will be the Economic Impact of Jennifer Granholm Leaving Office?Who will hold the "creating cool" conferences? Who will launch embarrassing economic development campaigns centered on telling everyone that Lansing is a "cool city"? Who will give tax credits to <a href="http://technologyandthecity.blogspot.com/2010/06/jennifer-granholm-tax-credits-for.html">convicted felons</a> while raising taxes on everyday citizens?<br />
<br />
Jenny did me a favor, though. I was driving home the other day, and got to listen to her speech at the Brookings Institution. Honestly, can't remember if it was C-SPAN radio or NPR, but she was as entertaining as ever. She was pressed about creating jobs, and after ummingg and uhhhing her way through five minutes of Q&A, she started breaking out her old "attract young workers", "make cities places young people want to live" line that's served her terribly since she took office. Guess she had to break it out one last time for tradition's sake.<br />
<br />
Now the interesting thing to see will be the benefit to Michigan of not having her there next year. Perhaps the new governor will understand that ribbon cutting ceremonies for 100 new jobs mean little when you've lost 10,000 in the past six weeks. Perhaps businesses will be less terrified of actually moving to a state where the governor wants to tax you to death for making an actual product that can be sold in a store, but will offer you a tax credit if you hire three 25 year old Javascript developers to help build your website.<br />
<br />
She'll be gone soon, which should bring hope to Detroit, Michigan, and anyone who appreciates common sense economic growth. Unknownnoreply@blogger.com1tag:blogger.com,1999:blog-4957894027687826063.post-65646445449433506392010-09-29T15:58:00.001-04:002010-09-29T15:59:09.405-04:00Married 25-34 Year Olds Now a MinorityJust ten years ago, 55% of 25-34 year old Americans were married, by 2009 that number had dropped to 46%, according to data just released by the <a href="http://www.prb.org/Articles/2010/usmarriagedecline.aspx">Population Reference Bureau</a>, and based on the Census Department's American Community Survey.<br />
<br />
Living in the Washington, DC area, I feel this every week, especially when I get a break from my marriage to go out with single friends, and see other people my age (which is above 34) hanging out at bars, making grand plans for the weekend that don't involve mowing the lawn or baseball practice. (And yes, my kid plays baseball, no American child should be playing that silly English sport with a black-spotted ball)<br />
<br />
While the trend is not surprising, the rate of change is, essentially dropping a percentage point a year. Now, before any economic development exec or urban planner thinks this means their city needs more douchebag bars or four-letter loft neighborhoods to accommodate overeducated workers, here's an interesting excerpt: <br />
<br />
<i>Between 2000 and 2010, the proportion of young adults who are married dropped 10 percentage points (to 44 percent) for those with a high school diploma or less. For those with at least a bachelor's degree, the percent married dropped only 4 percentage points, to 52 percent.</i><br />
<br />
<i>...</i>and many of the cities earning high praise from pundits who think we still have a 1990s creativity-based economy aren't following the trend, the report notes that:<i><br />
</i><br />
<br />
<i>Seattle was the only large city where the proportion of young adults who are married increased slightly since 2000.</i><i> </i><br />
<br />
<a href="http://www.prb.org/images10/usyoungadultmarriage.gif" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="210" src="http://www.prb.org/images10/usyoungadultmarriage.gif" width="400" /></a><i> </i><br />
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The article goes on to point out that there's been a flip - high school grads with no college used to more likely to get married, now the opposite is happening. And here's my favorite line:<br />
<i><br />
</i><br />
<i>Another factor contributing to the decline in marriage rates, especially for less educated groups, is the rise in women's earnings relative to men.</i><br />
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This is kind of what I've been talking about with face-to-face contact now the defining scarce resource of the economy. The jobs that aren't getting automated or outsourced, and showing the best growth prospects - from skin care technicians to social workers to nurses - <a href="http://technologyandthecity.blogspot.com/search?q=vagina+economy">are mostly done by women</a> and don't have exceptionally high educational requirements. <br />
<br />
Ultimately, we are adjusting to a new world where most middle-class workers, from teachers to nurses, are women, while men are pushed to the top or bottom by productivity gains. The decline of marriage rates is just one implication of this trend. I'm sure some of you have spotted others.Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-4957894027687826063.post-84807282710433373622010-09-22T15:58:00.001-04:002010-09-22T16:01:29.655-04:00The End of Big Infrastructure Projects, Part 1Last week, it was announced that phase 2 of the Dulles Rail project, which includes the actual airport, will now cost $3.8 billion, or about $350 million per route mile, excluding interest. This blew away previous estimates that had the project coming in at $2.5 billion, and is a huge increase from the $1 billion and change it was supposed to cost five years ago.<br />
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The DC area media, including those astute microeconomists at the Washington Post, are chiming in cost saving ideas, particularly relocating the airport station above ground. But these do little to address what's pushing the cost up - labor and health benefits.<br />
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In our 2010s economy, where face-to-face contact, not creativity, is the defining scarce resource, big capital projects are becoming more costly at a rate faster than inflation. And it's not an issue of corruption or politicians, but the simple fact that labor costs, including benefits, are rising faster than inflation. Moreover, cap labor productivity is barely advancing, while operating labor is practically being automated out of existence. This means any major infrastructure project - road, rail, or building, is being forced into a tough financing situation.<br />
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Maryland's financing $1.2 billion of its 18 mile, $2.6 billion inter-county connector with revenue bonds supported by 25 cent/mile tolls that are expected to rise in the future. Drivers on the Dulles Toll Road will face even more significant increases to pay off the revenue bonds funding the rail line going down its median. While transit advocates might like this arrangement, the same construction firms working on rail work on roads, and the forces increasing costs are the same - it's not like philosophy or politicians can do anything about the underlying economics.<br />
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The result of all this that we will soon reach a point where most infrastructure is just maintenance and "construction" mostly applies to existing roads and rails. This will also be seen in sports stadiums, which are subject to similar economic constraints and also likely to be built in far lower numbers in the future, regardless of who gets elected.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-35248081635532395512010-09-17T15:34:00.001-04:002010-09-17T15:35:49.262-04:00Let's Hope Minneapolis Doesn't Tell Us It's "Cool" NowFew top 30 metros have withstood the bad economy of the last few years as well as Minneapolis-St. Paul. Unemployment there is just 6.8%, it's on the verge of becoming the <a href="http://technologyandthecity.blogspot.com/2010/06/minneapolis-about-to-surpass-detroit-as.html">second largest metro economy</a> after Chicago, surpassing Detroit, and a new baseball stadium is bringing 3 million pedestrians downtown every year. Moreover, its economy is rooted in an industry, agribusiness, which is a net exporter and not in the process of being crushed by outsourcing.<br />
<br />
Yet somehow a consultant's report is claiming <a href="http://www.startribune.com/business/103104864.html?elr=KArksD:aDyaEP:kD:aUnc5PDiUiD3aPc:_Yyc:aU7DYaGEP7vDEh7P:DiUs">the region</a> isn't on many relocation short lists, and that a regional economic development group will somehow fix this. In DC, we've had regional efforts, most notably the Greater Washington Initiative, that really do little other than provide a way for members to network. Moreover, exactly who do the consultants want to bring to Minneapolis? Another software company with 35 people but 50 press stories about its relocation? Another solar manufacturer who will stay for nine months before heading off to <a href="http://technologyandthecity.blogspot.com/2010/07/success-story-20-miles-away-from.html">the Philippines</a>? More pictures of lab coat techs staring at test tubes?<br />
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All I ask is if this thing gets created, they spare us the "cool city" crap we've gotten from Michigan and that Louisville has picked up on. Rather than attracting new businesses, that's the sort of thing that tells people it's time to leave.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-87639788900145682422010-08-23T21:08:00.000-04:002010-08-23T21:08:05.277-04:00Stockton, CA Homicide Rate Almost as High as Washington, DC'sThe recession has done little to stop the declining homicide rate in Washington, DC. In 1991, the city recorded 479 homicides, a rate of over 80 per 100,000. This year it's recorded 75, is on pace for about 115, a rate of just under 20 per 100,000. The city's murder rate is very likely to come in at a 47 year low for all of 2010.<br />
<br />
But on the other side of the country, where there are few Federal jobs to prop up the economy, Stockton, CA is seeing a surge in homicides, reporting <a href="http://www.news10.net/news/article.aspx?storyid=92052&provider=top&catid=188">33</a> this year, nearly double the total of last year. With 290,000 people, Stockton's year-to-date homicide rate of 11.5 per 100,000 is almost as high as the 12.5 per 100,000 in the city formerly known as the nation's murder capital.<br />
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Stockton was crushed by the housing bust, and now relies on the usual local government/hospital jobs seen in other cities. Interestingly, larger, out-of-state, cities that were also hurt badly by the housing crash, notably Phoenix, are still seeing declines in violent crime. Meanwhile, Fresno also saw a large increase in homicides earlier this year. While I can't say exactly why Stockton's crime is so bad, Phoenix, Reno, and Las Vegas don't have to deal with the high tax burdens and huge pension liabilities Stockton shares with the rest of California. And without the tech or movie industries to prop it up, Stockton and Fresno don't have the non-health, non-government employment base of San Francisco or LA. Essentially, working class Central Valley residents are being forced to subsidize pensions for public workers who live in LA and San Francisco. That's no way to build a foundation for an economic recovery.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-83723297190105743012010-08-14T06:48:00.000-04:002010-08-14T06:48:25.745-04:00Caterpillar Coming to North Carolina, But Nearly $1 Million Capex Per JobCaterpillar is expanding production capacity across the world right now. And it's bypassing its usual midwestern locations for the south and Texas. However, like many other manufacturers, it is now spending close to a million dollars for every new job created.<br />
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Its <a href="http://www.bizjournals.com/triad/stories/2010/07/26/daily50.html?q=caterpillar%20new%20manufacturing%20plant">new axle facility</a> in Winston-Salem, NC will require $426 million of capex, and is expected to produce 500 jobs across the 850,000 square foot site. Average wages are expected to be $40,500 plus benefits once the facility opens in 2012. This means about $22 million in new non-benefit wages a year. Therefore, with inflation it will likely take at least 15 years until the company's outlays for manufacturing wages match what it will spend building the plant.Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-4957894027687826063.post-72766592027497994192010-08-04T07:46:00.000-04:002010-08-04T07:46:48.846-04:00Michigan Factory Employment Down 450,000 Over the Last 10 YearsWhile Obama, Biden, and the Queen of Economic Disaster Jennifer Granholm attend ribbon cutting ceremonies for factories that will employ a few hundred, Michigan has lost manufacturing jobs by the hundreds of thousands. An interesting article at <a href="http://www.mlive.com/business/index.ssf/2010/07/while_obama_celebrates_new_man.html">MLive.com</a> highlights how many of the new "advanced manufacturing" jobs are simply coming in a too slow a pace to dent the unemployment rate. Rick Haglund, the author of the story, writes:<br />
<i><br />
While advanced manufacturing is important to Michigan's economy, it's not likely to produce more than about 10 percent of the state's total jobs.</i><br />
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This is tied to the challenge I've written about here of capex per job created rising faster than inflation. It wasn't in Michigan, but when Toyota built its Princeton, Indiana plant in 1998, it needed $350,000 in up front capital outlays per operating job created. But it's new Prius plant in Blue Springs, Mississippi will need <a href="http://technologyandthecity.blogspot.com/2010/06/toyota-restarting-construction-on.html">$650,000 of capital</a> investment per job created.<br />
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The solution is not some clever educational program or to attract "creative" workers. But rather to cultivate industries, like <a href="http://technologyandthecity.blogspot.com/2010/07/windpower-is-much-better-than-solar-for.html">wind turbine production</a>, where manufacturing is far more labor-intensive, and requires less than $200,000 in capex per operating job created.Unknownnoreply@blogger.com0tag:blogger.com,1999:blog-4957894027687826063.post-82366158366987243442010-07-29T21:18:00.000-04:002010-07-29T21:18:50.579-04:00It's Time for Open Source Economic DevelopmentThere are few things as repetitive as watching economic development presentations from different cities, counties, and states. Everyone's got an educated workforce, everyone's got a top ranked symphony, everyone's got a website with pictures of lab coat techs starting at test tubes. And just about everyone still has high unemployment.<br />
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The me-too wastefulness of the economic development industry is best seen in the billions poured into convention centers over the last decade. For some reason, sports stadiums make a lot of academics angry, but convention centers can actually be far more wasteful. Here in DC, there was all kinds of moaning about the $611 million stadium the city built for the Nationals, which is generating more than enough revenue to cover its debt service. But there was barely a peep over the me-too $800 million convention center that the city is struggling to fill. <br />
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But instead of wasting taxpayer dollars on copycat slogans and convention centers, it's time for economic development to draw on taxpayers' unique knowledge of their hometowns. Residents are already altering perceptions of cities and states with YouTube clips, from the Arlington Rap to the Hastily Made Cleveland Tourism Video to Minnesota Gurls, all of which get far more hits than any of the vapid symphony, science, and art videos put up by economic development authorities. <br />
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Rather than get surprised by some 18 year old's YouTube clip, it makes more sense for recruitment campaigns to incorporate more input from residents. Some cities will hold charettes and go through all kinds of planning debates over a 10 acre parcel of land. But economic development strategies are more important to these cities' futures than the position of the parking garage next to the new "lifestyle center". Moreover, many people developing those strategies are cautious government employees who do not want to venture too far away from conventional themes with predictably mediocre results. So why not involve citizens more?Unknownnoreply@blogger.com0