To assess the degree to which knowledge-based industries are attracted to regions with high creativity score, this paper examines the location choices of one specific category of creative employers: large consulting firms that offer design services in the construction field. Research suggests that a high degree of clustering is taking place, since roughly half of the 50 largest firms in the United States are located in only five urban regions: New York City, Los Angeles, San Francisco, Houston, and Denver. Of the 39 largest design firms rated in terms of international business, there is a higher degree of clustering: more than 70 percent of the firms are located in only eight urban areas, and almost half of these are concentrated in only two areas, San Francisco and New York. There is likewise a high degree of clustering among architectural firms: 100 of the 133 largest firms are located in clusters of two or more, and more than half of the largest 100 firms are located in only six urban regions. The distribution of firms is not related to the size of the urban region. Small Boston has the same number as large New York; Atlanta and San Francisco have more than Houston or Philadelphia. The study upholds the hypothesis that the power of place plays a role in attracting creative workers and knowledge-based industries.
1010 Affordable Housing Amazon Amenitization Architecture Artificial Intelligence Asia Australia automation Autonomous Vehicles bonds Borrowing Constraints Brexit California Canada Capital Business China Co-Working Environment coastal markets cold storage Colombia Commercial Brokerage Commercial Real Estate commissions Congestion consumer bias covid-19 CRE credit card market Credit Default Swaps Credit Insurance Credit Risk Transfers Culture Data Analytics data centers Data Collection Technology Debt Market Demand Demographics Density Development Discrete Choice disruption Diversity drones e-Commerce Economic Corridors economic policy economics education election studies Equity Funds Equity Market Ethnic Factors Europe Fannie Mae financial asset management Foreclosures Foreign Policy France Freddie Mac general equilibrium Global global economy Global Financial Crisis Globalization great depression Great Recession healthy buildings Hedonic hospitality Housing & Residential housing boom Housing Disease housing prices Housing Supply Identity Income Inequality India inflation Inter-generational mobility interest rates Investing jobs labor market Lagging Regions land use regulation Language life sciences Macroeconomics malls Market Pricing megacities Microeconomics Migration Minimum Payments Mixed-Use Mobility moral hazard mortgage insurance mortgage market Mortgage Rates Mortgages Multi-family Nation Building Non-Traditional Mortgages Office Market office sector pension funds Placed Based Policies Political Risk Price Discovery Private Equity Business public health public policy Public Schools real estate brokerage Real Estate Investment Real Estate Investment Trusts Recession Rental Retail Retirement reverse mortgages Risk Adjustment risk management risk-shifting robotics single family housing Slums Sorting South America Spatial Regions spillover effect stimulus package Sub-Prime Mortgages Sustainability Technology telecommunications trade transportation unemployment United States Urban Urbanization Warehouse welfare work from home