May 31, 2015

Bet on Boston

Boston is a city on the rise!

For centuries, Boston has been a champion of higher education and academic achievement. In addition to the world-renown of Harvard and MIT, both sitting along the Charles River in Cambridge, the city hosts several top-tier institutions, including Boston College, Boston University, Northeastern University, Emerson, Tufts University; altogether, the Boston area holds over 50 institutions of higher learning, with notable specialists in art, music, technology, engineering, law, and science. Furthermore, the city is fed by an even greater number of institutions throughout the state and region, with a total of 114 in Massachusetts and 167 in all of southern New England, including 3 of the 8-member Ivy League conference (with a fourth, Dartmouth University, just north in New Hampshire).

This staggering collection of learned institutions has given Boston a number of historical triumphs in business, finance, and heavy industry, and has recently has been a major driver in the amazing expansion of the innovation economy. While the west coast is culturally more famous for technological prowess, Boston now boasts over 1,600 notable start-ups (amounting to $38.55 billion in funding and over 74,000 jobs), significant operations or headquarters for many firms, and a collective GDP that ranks higher than many countries, including Venezuela, Finland, Israel, Portugal, Egypt, and Qatar (at $370.77 billion).

Kendall Square, Downtown, and the Waterfront of South Boston account for the three biggest innovation centers in the city, but more are emerging nearly every day in and around. Somerville, just to the north, has been experiencing impressive growth for several years, and Assembly Row is becoming a crowning achievement for the city; other Charles River sites have begun to make noise, including the Mill District, and Route 128 has long been called the Silicon Valley of the East, with several miles of highway bordered by many dozens of high-powered tech firms, including the world headquarters for TripAdvisor, VistaPrint, Constant Contact, and many more.

With high-rise construction continuing to expand in number, scale, and scope, and with money continuing to flood the region as graduates decide to remain local and build their start-up companies in the city and surrounding towns, the city of Boston has a bright and impressive future ahead; and, indeed, the rest of Massachusetts and southern New England is sure to experience bleed-over growth as the limitless opportunities of the innovation economy continue to seek out new homes and champions. If I was a betting man, I'd bet on Boston every day of the week and twice on Sunday!



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