Mike Mandel at the Progressive Policy Institute has new data which shows that cities and localities with lots of new tech and iT jobs have bounced back faster and better from the Great Recession than other parts of the US. This is a big plus for Richard Florida’s argument that the Creative Class is a key generator of economic growth and higher incomes in cities.
The PPI data shows that startups and entrepreneurship are key to generating high-paying jobs. Policy-makers and the business press tend to focus on big business and finance but the important action lies elsewhere.
The polity implications are important. Much more effort has go to into supporting new companies. This includes finance (bolstering crowd-funding, improving the archaic venture capital business), regulation (cutting it for startups and new companies) and education (university campuses are cheap platforms for generating innovation and new companies).
Check out the list of counties that have the most tech/it new job growth. California leads, of course, but Brooklyn makes the top 25 list and there are surprises in between.
Great job Mike!