Word: devol
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Dates: during 2000-2009
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...growth that 11 of the top 20 had populations well under 1 million. The Fort Myers region (pop. 420,000) added 17,500 new jobs between July 2000 and July 2003; the Fayetteville area (pop. 320,000) added 16,300. "That might seem surprising to some," says Ross DeVol, author of the study, but many smaller regions share characteristics that act as job magnets: lower costs, tax breaks for employers, funding for entrepreneurs and a deepening pool of skilled and educated workers. Many are college towns, seats of government or home to a big company that nourishes others. Thanks...
...tech-heavy Bay Area. The cities with the highest rates of growth when it comes to technology companies--places like Phoenix, Ariz.; Denver; Boston; Portland, Ore.; Fort Worth and Austin, Texas--also happen to be the cities with the fastest-rising house prices. "This is no coincidence," says Ross DeVol, an economist at the Milken Institute in Los Angeles, a nonprofit think tank. "The indirect effect of [dotcoms'] being there is that landlords jack up the rates on everyone else. It's out of control...
With so many dotcom bankruptcies hitting the business pages, it may seem as if the stock market has already sorted out this rent problem. Not true, says DeVol. "If the dotcom market slows down, there's still going to be some high-valued part of the technology industry to take the space. Venture capital has to go somewhere. This is a long-term problem...