Denver "Cool City" for Young Adults During Recession....But Can The Area Retain This Talent?

William Frey from the Brookings Metropolitan Policy Program recently released demographic data showing that the Denver Metro Area had a net gain of more than ten thousand young adults (aged 25 to 34) from 2008 to 2010 making it the number one gaining Metro Area in the U.S. during the Great Recession.   It jumped from a ranking of twelfth in 2005 to 2007 (see chart to left from Brookings).

Frey describes the strong net inflow performance of cities like Denver in the following way:

"To the extent they are moving at all, young adults are headed to metro areas which are known to have a certain vibe—college towns, high-tech centers, and so-called 'cool cities.'...The top three areas [Denver was number 1] and our nation’s capital, arguably, fared relatively well economically during the recession. But all seven are places where young people can feel connected and have attachments to colleges or universities among highly educated residents."

Which brings me to a fascinating conversation I had the other night at dinner with an old friend I used to work with in New York.  My friend, who has lived in the Denver Metro Area for more than 10 years, has top notch professional and academic credentials with many interesting and impressive career experiences.   One thing he told me was that, in his experience, the relatively small size of the Metro Denver employment market leads many talented people to ultimately move on to larger business centers to further their careers.  

Clearly the Denver region is attracting energetic young people who are critical for keeping the area economically vital, creatively vibrant and providing a strong labor talent pool.  However, the big question this raises in my mind is "Can the region attract and/or organically grow enough top tier job opportunities to retain this population as it ages and grows into senior management roles?"

This is a big and critical challenge for the Denver region.

Brookings/Leinberger: The Next Real Estate Boom

The Brookings Institutes's Metropolitan Policy Program continually puts out excellent work.
Christoper Leinberger's recent short article, The Next Real Estate Boom, does an insightful job of weaving together a multitude of ideas and trends into an analysis for holistically tackling many of the most vexing economic and public policy questions faced in the United States today. All of the following and more are discussed in an interrelated way:

1) The increasing demand for walkable, transit-oriented, mixed use neighborhoods
2) The current Great Recession and how to get the economy moving forward
3) Global economic competition
4) Global warming and energy policy
5) Transportation policy and infrastructure investments
6) Demographic trends from the Baby Boomers to Generation Y
8) The emergence of Salt Lake City as a potent economic hub with a unique sense of place (an area of notable concern for this blog)
9) Reforming Fannie and Freddie

Thinking about Metro Denver, this article helped reinforce for me the critical importance of finding a way to move ahead with the full FasTracks program to help the region build a successful future.