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Atlanta leads fight to lure young and restless
By Andrew Ward in Atlanta
Published: November 20 2006 22:04 | Last updated: November 20 2006 22:04
Micah Morgan grew up in Chicago and studied commerce at the University of Virginia in Charlottesville. But when it came to finding a job, he headed for Atlanta, Georgia.
“I considered lots of cities,†recalls the 29-year-old. “I chose Atlanta because of its affordable cost of living and vibrant lifestyle. It was a place where I felt I could excel.â€
Eight years later, he remains in the city, working as an analyst for Macquarium, a website developer and internet marketing consultancy.
For Atlanta, its capture of Mr Morgan represented one small victory in an intensifying battle among American cities for members of the demographic group known as the “young and restlessâ€.
A study published on Monday by the Metro Atlanta Chamber of Commerce showed that the city increased its share of the group – defined as university graduates aged 25-34 – faster than any other of the 50 largest metropolitan areas during the 1990s.
The study, conducted by a demographic research firm, was commissioned as part of efforts by Atlanta’s business community and civic leadership to develop a strategy for attracting young talent.
Sam Williams, president of the chamber, launched the initiative after noticing how availability of educated labour was becoming a bigger concern for businesses.
He recalls one company that was considering an investment in Atlanta asking: “We need 300 people with master’s degrees within three months. Are they there?â€
Competition for talent is becoming increasingly fierce throughout the developed world as “baby-boomers†retire and birth rates decline. For decades, growth in higher education and increased labour participation by women provided rich seams of fresh talent. But those trends are starting to slow.
As supplies of the “young and restless†tighten, Atlanta’s study exposes disparities between cities that are successfully meeting the demographic challenge and others that are losing out.
Between 1990 and 2000, the period covered by the research, Atlanta increased its number of university-educated 25 to 34 year olds by 46 per cent, while its share of the nationwide group rose faster than any other city’s.
San Francisco and Denver registered the next biggest share gains, while Los Angeles and New York, which have the largest numbers of “young and restlessâ€, suffered the biggest drops.
The Raleigh-Durham area of North Carolina had the highest percentage of the group among its population, reflecting the strength of its universities, followed by the cities of Boston and San Francisco.
In absolute terms, the “young and restless†followed broader shifts in the US population, with the biggest growth in numbers found in southern and western cities, and the biggest losses in north-eastern cities.
“As cities move increasingly into a knowledge-based economy, the kind of talented people each area attracts will determine whether it wins or loses in the campaign for future prosperity,†says a report issued with the study.
Attracting 25 to 34 year olds is “critical†because it is between those ages that people have the greatest flexibility to relocate.
Factors behind Atlanta’s success in wooing the “young and restless†include its relatively low cost of living, plentiful jobs in growing industries, popular universities, large airport, warm climate and diverse culture, says Mr Williams. In addition to deepening the talent pool available to businesses, he says the influx has made Atlanta more attractive to high-tech and creative enterprises and spurred entrepreneurial growth.
Mr Williams plans to work with local businesses, universities and city government to develop a marketing campaign targeted at young adults, while looking for ways to encourage existing talent to stay.
“The success we’ve had in attracting the young and restless so far has come about naturally,†he says. “We’re trying to understand the phenomenon better to make sure it continues.â€
Copyright The Financial Times Limited 2006
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I wonder how Atlanta and the rest of the sun-belt do on Richard Florida's list. I wonder how we would do? I dont exactly remember this as a priority for Miller and co.
By Andrew Ward in Atlanta
Published: November 20 2006 22:04 | Last updated: November 20 2006 22:04
Micah Morgan grew up in Chicago and studied commerce at the University of Virginia in Charlottesville. But when it came to finding a job, he headed for Atlanta, Georgia.
“I considered lots of cities,†recalls the 29-year-old. “I chose Atlanta because of its affordable cost of living and vibrant lifestyle. It was a place where I felt I could excel.â€
Eight years later, he remains in the city, working as an analyst for Macquarium, a website developer and internet marketing consultancy.
For Atlanta, its capture of Mr Morgan represented one small victory in an intensifying battle among American cities for members of the demographic group known as the “young and restlessâ€.
A study published on Monday by the Metro Atlanta Chamber of Commerce showed that the city increased its share of the group – defined as university graduates aged 25-34 – faster than any other of the 50 largest metropolitan areas during the 1990s.
The study, conducted by a demographic research firm, was commissioned as part of efforts by Atlanta’s business community and civic leadership to develop a strategy for attracting young talent.
Sam Williams, president of the chamber, launched the initiative after noticing how availability of educated labour was becoming a bigger concern for businesses.
He recalls one company that was considering an investment in Atlanta asking: “We need 300 people with master’s degrees within three months. Are they there?â€
Competition for talent is becoming increasingly fierce throughout the developed world as “baby-boomers†retire and birth rates decline. For decades, growth in higher education and increased labour participation by women provided rich seams of fresh talent. But those trends are starting to slow.
As supplies of the “young and restless†tighten, Atlanta’s study exposes disparities between cities that are successfully meeting the demographic challenge and others that are losing out.
Between 1990 and 2000, the period covered by the research, Atlanta increased its number of university-educated 25 to 34 year olds by 46 per cent, while its share of the nationwide group rose faster than any other city’s.
San Francisco and Denver registered the next biggest share gains, while Los Angeles and New York, which have the largest numbers of “young and restlessâ€, suffered the biggest drops.
The Raleigh-Durham area of North Carolina had the highest percentage of the group among its population, reflecting the strength of its universities, followed by the cities of Boston and San Francisco.
In absolute terms, the “young and restless†followed broader shifts in the US population, with the biggest growth in numbers found in southern and western cities, and the biggest losses in north-eastern cities.
“As cities move increasingly into a knowledge-based economy, the kind of talented people each area attracts will determine whether it wins or loses in the campaign for future prosperity,†says a report issued with the study.
Attracting 25 to 34 year olds is “critical†because it is between those ages that people have the greatest flexibility to relocate.
Factors behind Atlanta’s success in wooing the “young and restless†include its relatively low cost of living, plentiful jobs in growing industries, popular universities, large airport, warm climate and diverse culture, says Mr Williams. In addition to deepening the talent pool available to businesses, he says the influx has made Atlanta more attractive to high-tech and creative enterprises and spurred entrepreneurial growth.
Mr Williams plans to work with local businesses, universities and city government to develop a marketing campaign targeted at young adults, while looking for ways to encourage existing talent to stay.
“The success we’ve had in attracting the young and restless so far has come about naturally,†he says. “We’re trying to understand the phenomenon better to make sure it continues.â€
Copyright The Financial Times Limited 2006
---------------------------------------------------------
I wonder how Atlanta and the rest of the sun-belt do on Richard Florida's list. I wonder how we would do? I dont exactly remember this as a priority for Miller and co.