ARTICLE
Santa Cruz - “Creative Class” Hive Named “Best Jobs Destination” For College Grads Santa Cruz has been ranked the 7th best “small metro” destination for college graduates in the U.S. AIER, an independent economic research institute, based its 2016 study on migration patterns and city characteristics over the ten year period from 2005 to 2014. The study focused on well-educated millennials (22 to 35 years old in 2016.) Richard Florida’s books beginning with Rise of the Creative Class (2002) told us it would be so. The AIER study found that notwithstanding Santa Cruz’s rents and labor force participation, rated in the bottom quartile of the small metro cities (population 250,000 to 1,000,000), our metro area was first in arts and entertainment, in the top quartile for city accessibility and diversity, and seventh in education. The study found the most important factor in millennials’ choice of a community in which to live and work was the presence of other well-educated young professionals (which was also predicted by Florida’s research.) Millennials’ willingness to move to another area for employment runs counter to trends in other U.S. demographic groups who have become less willing to migrate to other areas.* The AIER article emphasizes recreational and social opportunities and strong academic environments as key elements found in virtually all of the communities recognized as “best destinations.” Recent census data reflects a decline in the total population of adults in Santa Cruz County between the ages of 25 and 45. The AIER study’s findings are encouraging, suggesting that there may be a counter-trend within this age group that will be reflected in increased numbers of college-educated millennials in the local workforce. This prospect is reinforced by AIER’s description of Santa Cruz… "Strictly looking at the job market and economic livability of the city, Santa Cruz wouldn’t be a first or fifth choice; earnings are not very high, but rent and unemployment are. However, the culture and entertainment provided by Santa Cruz’s new-age vibes and cheerful boardwalk is enough to draw in crowds of college graduates and young professionals. Aside from this, the city is very accessible, whether by roller blade or by the metro. The city population is also diverse and fairly well educated, thanks in part to the University of California’s UCSC campus. " The detailed summary describes the ranking of the studied community features: #7 Santa Cruz, Calif. POPULATION: 272,478 RANKING DETAIL: ECONOMIC #12 EARNINGS #19 RENT #14 UNEMPLOYMENT #18 LABOR FORCE PARTICIPATION DEMOGRAPHIC #7 EDUCATION #5 DIVERSITY QUALITY OF LIFE #5 CITY ACCESSIBILITY #1 ARTS AND ENTERTAINMENT #10 BARS AND RESTAURANTS The top twenty cities studied by AIER in ranked order: Small Metros Ranking 1 Ann Arbor, Mich. > 2 Bridgeport, Conn. > 3 Lincoln, Neb. > 4 Fort Collins, Colo. > 5 Honolulu, Hawaii > 6 Trenton, N.J. > 7 Santa Cruz, Calif. > 8 Norwich, Conn. > 9 Omaha, Neb. > 10 Portland, Maine > 11 Des Moines, Iowa > 12 Grand Rapids, Mich. > 13 Albany, N.Y. > 14 Gainesville, Fla. > 15 Colorado Springs, Colo. > 16 Santa Barbara, Calif. > 17 Anchorage, Alaska > 18 Manchester, N.H. > 19 Charleston, S.C. > 20 New Haven, Conn. > The American Institute for Economic Research (AIER) conducts independent, scientific, economic research. Founded in 1933, AIER was founded in 1934 to study economic, social, and monetary developments that had contributed to the catastrophic economic contraction of the Great Depression. It was initially housed at the Massachusetts Institute of Technology and has grown into a national, independent research institution. *See the article on “convergence”, also cited and discussed in the July 7 Chamber enews.
Santa Cruz has been ranked the 7th best “small metro” destination for college graduates in the U.S. AIER, an independent economic research institute, based its 2016 study on migration patterns and city characteristics over the ten year period from 2005 to 2014. The study focused on well-educated millennials (22 to 35 years old in 2016.)
Richard Florida’s books beginning with Rise of the Creative Class (2002) told us it would be so. The AIER study found that notwithstanding Santa Cruz’s rents and labor force participation, rated in the bottom quartile of the small metro cities (population 250,000 to 1,000,000), our metro area was first in arts and entertainment, in the top quartile for city accessibility and diversity, and seventh in education.
The study found the most important factor in millennials’ choice of a community in which to live and work was the presence of other well-educated young professionals (which was also predicted by Florida’s research.) Millennials’ willingness to move to another area for employment runs counter to trends in other U.S. demographic groups who have become less willing to migrate to other areas.*
The AIER article emphasizes recreational and social opportunities and strong academic environments as key elements found in virtually all of the communities recognized as “best destinations.”
Recent census data reflects a decline in the total population of adults in Santa Cruz County between the ages of 25 and 45. The AIER study’s findings are encouraging, suggesting that there may be a counter-trend within this age group that will be reflected in increased numbers of college-educated millennials in the local workforce.
This prospect is reinforced by AIER’s description of Santa Cruz…
"Strictly looking at the job market and economic livability of the city, Santa Cruz wouldn’t be a first or fifth choice; earnings are not very high, but rent and unemployment are. However, the culture and entertainment provided by Santa Cruz’s new-age vibes and cheerful boardwalk is enough to draw in crowds of college graduates and young professionals. Aside from this, the city is very accessible, whether by roller blade or by the metro. The city population is also diverse and fairly well educated, thanks in part to the University of California’s UCSC campus. "
The detailed summary describes the ranking of the studied community features:
#7 Santa Cruz, Calif. POPULATION: 272,478 RANKING DETAIL:
ECONOMIC #12 EARNINGS #19 RENT #14 UNEMPLOYMENT #18 LABOR FORCE PARTICIPATION
DEMOGRAPHIC #7 EDUCATION #5 DIVERSITY
QUALITY OF LIFE #5 CITY ACCESSIBILITY #1 ARTS AND ENTERTAINMENT #10 BARS AND RESTAURANTS
The top twenty cities studied by AIER in ranked order:
Small Metros Ranking 1 Ann Arbor, Mich. > 2 Bridgeport, Conn. > 3 Lincoln, Neb. > 4 Fort Collins, Colo. > 5 Honolulu, Hawaii > 6 Trenton, N.J. > 7 Santa Cruz, Calif. > 8 Norwich, Conn. > 9 Omaha, Neb. > 10 Portland, Maine > 11 Des Moines, Iowa > 12 Grand Rapids, Mich. > 13 Albany, N.Y. > 14 Gainesville, Fla. > 15 Colorado Springs, Colo. > 16 Santa Barbara, Calif. > 17 Anchorage, Alaska > 18 Manchester, N.H. > 19 Charleston, S.C. > 20 New Haven, Conn. >
The American Institute for Economic Research (AIER) conducts independent, scientific, economic research. Founded in 1933, AIER was founded in 1934 to study economic, social, and monetary developments that had contributed to the catastrophic economic contraction of the Great Depression. It was initially housed at the Massachusetts Institute of Technology and has grown into a national, independent research institution. *See the article on “convergence”, also cited and discussed in the July 7 Chamber enews.