In a trend with implications for retailers and where they place their stores, a new study has found a continued exodus of top talent from coastal hubs like San Francisco, New York and Boston, in favor of emerging heartland metros like Austin, Texas, Nashville and Minneapolis-St. Paul. This shift, as charted in a recent report by the Heartland Forward think-tank, is “transforming the geography of innovation, economic growth and workforce development—positioning the heartland as an increasingly powerful economic engine.”
“The rise of remote work and continued investments in economic growth and quality of life have positioned the heartland as an emerging epicenter for the next generation of talent,” said Ross DeVol, the group’s Chairman and CEO. “We are committed to supporting these communities as they leverage this momentum, unlocking new opportunities and boosting their economies.”
Some key findings from the report:
- Heartland metros like Austin, Texas, Minneapolis-St. Paul, Nashville and Chicago now rank among the top 20 large metros for college graduates.
- Smaller heartland metros and college towns like Ann Arbor, Mich., Madison, Wis., and Columbia, Mo., lead the nation in concentrations of both college graduates and creative-class professionals.
- Austin, Texas, leads all large U.S. metros in the growth of college graduates between 2019 and 2023, followed by Indianapolis; Grand Rapids, Mich., Milwaukee, Nashville and Dallas.
- Florence-Muscle Shoals, Ala., leads all small and medium-sized metros in creative class growth, followed by Tuscaloosa, Ala., Lima, Ohio, and Lawrence, Kan.
“The heartland’s ability to attract and grow a highly educated, creative workforce reflects its rising importance in the national economy,” said Richard Florida, Senior Fellow at Heartland Forward and author of “The Rise of the Creative Class” and “The New Urban Crisis.” “By leveraging affordability, quality of life and investments in innovation, heartland metros are fast emerging as vibrant hubs of opportunity and growth.”
Click here for more from the study.