When you speak of new innovators and where best to locate, i would think availability of venture capital must be a major factor. California and especially Silicon Valley must be high on the list.
In the Midwest people tend to be conservative and don’t like taking the risk. Oil money in Texas must be a big plus.
NYC is where I went.
Or maybe it has little to do with political maneuvering and more to do with technology. The ability to remote work has allowed employers to hire low wage workers in fly over land at low cost.
Also, it has to do with demographics. Florida has 9 large growing cities. What is driving their growth? From where I sit in the Red Neck Riviera, it is old people.
We got hospitals, therapy centers and bars playing 70’s music.
Little else other than a really nice beach.
On the other hand, a good comparison of new battery manufacturing plants might yield some important information. If the big wins are going to Tennessee vice say Michigan then yep to red states might be winning. You need to be careful of comparing Texas Louisiana, and Oklahoma as they have seen a huge growth in oil refining and have the legacy infrastructure to out compete just about anyone anywhere.
Cheers
Qazulight
Money is certainly important, but I think ultimately money will go where the ideas are. IMO, the secret weapon of the Silicon Valley and why it will not be duplicated in China or India is immigration. To leave your home country to make a better life requires a personality that is willing and able to take big risks. Combine that with talent and intelligence and you have the formula for innovation. The foreign born proportion of the Silicon Valley is estimated to be about 38%, and these frequently represent the best and the brightest.
There is something to this. Tesla is a Silicon Valley company where change is part of the business culture. GM is a Detroit company, where change is hard. GM was late to respond to the Japanese in the 1970s and late to respond to the Chinese today. But I also think diversity matters. If you work in a company with colleagues from different continents, you will inevitably be exposed to new ideas and life styles. Change becomes a part of your life, from the recipes you try, to where you go for vacation, and eventually to how you do your job. Your brain gets accustomed to thinking outside the box.
This makes Florida an anomaly. It is easy to have small government when your state doesn’t have many people. But typically population growth stems from working age people moving to better job opportunities and lower living costs. More families means more demand for better schools and other family services. Government gets big pretty quickly and suddenly a red state starts to turn blue (see Arizona and Georgia). I suspect the same will happen to Idaho if it continues to be “Californicated”.
But if your populations growth comes from rich oldsters who don’t need much government services and who don’t need good schools, roads, or other infrastructure outside their retirement village, then one gets a very different dynamic. Florida may be the exceptional example of a population dense state that can retain a small government philosophy. Well, at least until flood and property insurance becomes so expensive that the state has to subsidize it all. Can you say “state income tax”.
The bailout comes in the form of golden sneakers.
This week is going to get wicked. The USSC is going to decide something that has not been discussed this way since the aftermath of the Civil War.
14A3
To be usurped or to be the court.
The brain drain.
Not always the case. In the 1998 period a company sprang up in Austin to create commerce online. Dell would later buy them out. A friend from CT went down to Austin to program in Java for them. The team of Asians who ran the company were stumped. Their experience was in structured code.
They hired an American with an MIT credential to help them. He lived in Oklahoma. He flew into Austin every other week. He took over the project.
His Java experience was with Kmart. He had set up a POS/logistics/accounting system, put two computers against each other and tested it at 5000 items per second on the server.
He understood Java Beans more specifically.
He pushed the Asians aside. They shut up. He ran the entire project. My friend made the UI. The rest was done by the American coder. The Asians literally did nothing at all for four months. Then the company was sold with a finished product to Dell.
The individual is not Asian or American. The individual is not immigrant or native-born. Those are stats. Generalizations.
The American education system has been systematically robbed from top to bottom. Supply-side economics is why.
Polk County, located in Central Florida, added over 26,000 people in 2023. The county also had a strong 29,600 arrivals in 2022.
Montgomery County, located in Texas, was next best with 25,501 new additions. The rest of the top five include Pasco County, Florida; Collin County, Texas; and Denton County, Texas…
Furthermore, county figures are overlapped by state data showing Florida ahead of the class. The Census said Florida gained 365,205 new residents in 2023, right behind Texas at 473,453. New York, in contrast, decreased by 100,000 residents while California dropped 75,000.
DB2
If you’ve ever been to Polk county, you’d know that it’s cheep, cheep, cheep.
It’s also rural enough to please most country folk looking for a new homestead to toss around chickens, rabbits and goats.
Not to mention, Polk county has a reputation for having “that guy” as a Sheriff.
It’s a statistic within a microcosm of low cost country retirement.
I’d suggest one reason for these demographic changes is the 2017 change in tax laws regarding state tax, property tax and mortgage interest deductions. That affects the net income for people in high tax, high cost of living states.