By Carol Coletta and Joseph CortrightRecent headlines about the latest census data on U.S. cities have had city leaders -- most notably D.C. Mayor Anthony Williams -- fretting. According to the new numbers, Washington has lost about 20,000 residents over the past five years at a time when Williams very publicly pledged to add 100,000 people by 2010.
While these reports should certainly be cause for concern, city leaders would be wise to shift their attention to another set of data that points to a positive trend occurring in cities: the preference among 25- to 34-year-old college-educated workers to live in neighborhoods within three miles of a city's center.
Why is this demographic -- and its geographic preferences -- important? >Link
Over the past four decades, we've enjoyed rapid growth in the quantity and quality of the U.S. workforce. But the three decisive forces that drove this growth -- the sizable baby boom generation, the dramatic economic impact of women entering the workforce and the impressive increase in college graduation rates -- will run out of steam or shift into reverse in the next two decades.
In response, cities must focus their energies on attracting and retaining a group we call "The Young and Restless": young, mobile, college-educated workers. They are a key indicator of the economic success of cities in the knowledge economy, where prosperity hinges on the ability to come up with new ideas.
A recent study by the organization CEOs for Cities ("The Young and Restless in a Knowledge Economy") revealed that this demographic is roughly 34 percent more likely to prefer close-in neighborhoods than people in other age groups (up from 10 percent in 1980 and 12 percent in 1990). This was true in every one of the top 50 metropolitan areas in the United States.
Metro areas with vital centers will fare better in attracting talented young adults.
To continue with the example of Washington, data from the 2000 Census show that this city's close-in neighborhoods have a higher level of college attainment than in most other close-in neighborhoods in large U.S. metropolitan areas -- higher than Atlanta and much higher than fast-growing Phoenix or Las Vegas.
More than 65 percent of the 25- to 34-year-olds living within three miles of the center of the region (measured from the White House) have a four-year degree or higher level of education, a rate only slightly lower than for close-in San Francisco (67 percent) and significantly higher than hip Seattle (56 percent).
City planners in the District clearly appreciate the significance of vibrant neighborhoods, showcased by the new theaters and shops downtown as well as the city's marketing campaign "City Living, D.C. Style." Walkable destinations, lively commercial districts and interesting streets are attractive to the Young and Restless. Good public services, including transit and parks, can also make close-in neighborhoods more appealing.
The ability to capture these young people is already playing an integral role in some cities' economic success. Booming metro economies such as Charlotte, Austin, Atlanta and Portland, Ore., have increased the number of college-educated adults about five times faster than the nation as a whole. Cities that are losing young college graduates, such as Hartford, Conn., and Rochester and Buffalo, N.Y., are struggling.
So whether the census numbers are right or wrong may not be as important to cities as it used to be. What's clear is that cities will succeed or fail depending on how much they appeal to this talent-rich pool. And if the number of cranes dotting the D.C. skyline and the still-hot housing market are any indicator, the city continues to position itself well in the race for talent.
Joseph Cortright is an economist with Impresa Inc. Carol Coletta is president and chief executive of CEOs for Cities, a network of urban leaders committed to strengthening America's cities.
© 2006 The Washington Post Company
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Fort Wayne, Ind. Mayor Graham Richard today released details of a recently completed hotel study. The study reveals that market demand will support the construction of an additional hotel in downtown Fort Wayne.
Mayor Richard also announced the City will send out request for proposals within the next month for the purpose of assessing the interest of hotel developers to build a new hotel.
The results of this study are very important as we continue to improve our downtown, said Mayor Richard. I want to thank all of our partners for their participation as we work together to build a better city to attract more businesses and development downtown.
C.H. Johnson Consulting, Inc. was hired by the Fort Wayne Redevelopment Commission to conduct the study. C.H. Johnson has given the City several recommendations for the type of hotel needed downtown.
- Category: mid-level to full service hotel
- Number of rooms: at least 300
- Possible amenities: 10 breakout rooms, 8,000 square foot grand ballroom, 5,000 square foot junior ballroom, two restaurants, pool, fitness center, coffee shop, gift shop, business center, parking for 300 cars, and two 1,000 square foot boardrooms
- Daily rate structure: $91-$101
- Site: adjacent to the Grand Wayne Center
- Demand sectors: groups and conventions (68%); corporate events (18%); leisure/visitors (14%)
C.H. Johnson determined the Grand Wayne Center and Allen County Public Library expansions will bring significant additional attendees and visitors to the downtown area. This will increase the demand for hotel space.