Here’s a question for the corporate decision-makers among you: What markets are you targeting in your geographic growth plan?
The secondary markets that will emerge as winners in the race for talent will be those that best replicate the live-work-play environment of the bigger cities—at a lower cost of living. This is true even in tertiary markets, such as Boise, Tucson or Ann Arbor, where corporations can “partner with local universities … to recognize the opportunities there for smaller-scale operations,” says Seeley. “They are not going to open a 2,000-person tech operation. But for incubators or niche operations, like R&D or cyber security, these are great locations.”
As Kristen Sexton, managing director of CBRE’s Labor Analytics practice, says: “The world is, indeed, flat. Just as capital knows no borders and flows around the world fluently, so too does talent.”
Frank Sinatra may have believed that if you made it in New York you could make it anywhere. Wonder what he thought of Boise?