The modern age has morphed into a global village led by mega-regions coveting a slice of the economic pie. North Texas has done well in this competition—so far. But many regional leaders predict that a far more collaborative approach will be needed as world competition heats up.
For the past year, Richard Florida (pictured
left) and his Creative Class Group have partnered with UT Arlington to examine
the region’s assets and challenges. The effort engaged representatives from the
School of Architecture,
the College of Education and Health Professions,
and the School of Urban and
Public Affairs, with input from major chambers of commerce, local
elected officials, Vision North Texas, the North Texas Commission, and civic
groups.
Dr. Florida, a visiting distinguished
research scholar at UT Arlington and author of the urban development classics The
Rise of the Creative Class, The Great Reset, and The Rise of the
Creative Class Revisited believes the future economy will increasingly be dominated
by knowledge, creativity, and innovation.
“Think of it as the 4Ts,” he says. “The
regions that prosper are those with the best performances in technology,
tolerance, talent, and territorial assets because they attract creative
workers.”
Beyond the 4Ts, creative workers generally
favor five attributes in the locations where they live: basic services,
opportunity, values, leadership, and aesthetics. In short, a sense of place
matters. But Florida cautions that catch phrases won’t get the job done. Decisions
must be based on data.
“We’re compiling a wide array of leading
indicators and data-driven analysis that can help to inform a broad
conversation about the path toward a sustainable, shared prosperity.”
The data shows plenty of strengths—and some
significant weaknesses.
On the positive side, the region weathered
the housing market downturn better than most areas, and five-year employment
growth is strong. Residents are diverse, relatively young (median age 28), and
robustly entrepreneurial.
Challenges include a pronounced auto
dependency, with its accompanying sprawl, and moderate human capital. Among
regions with populations exceeding a million people, Dallas-Fort Worth ranks
27th in percentage of workers with a bachelor’s degree or higher. The region
also lags in arts and recreation employment, which attracts creative class
residents who become sources of entrepreneurial activity.
“The data we’ve collected are an X-ray of the
region—its industry, talent clusters, and more,” Florida says. “We have found
that the region overall has done extremely well. It has a high rate of business
creation and stable employment. And a big international airport adds enormous
value.”
Steven Pedigo, visiting
distinguished research scholar
Steven Pedigo, a UT Arlington visiting
distinguished research scholar and the Creative Class Group’s research
director, sees a sea change in concepts of ownership.
“The focus on consumption has been that
people buy cars and houses,” he says. “But knowledge-based-economy residents
tend to spend money in different ways. People will spend money for
experiences—food, music, sports, travel, and art. The region needs to adjust to
this reality.”
Florida believes that the sprawling
tendencies of the Metroplex likely will change. Technology, innovation, and
capital access matter, but much of the built environment is unoccupied and
inefficient. With the University’s assistance, he and his team will study North
Texas for another year. Then it will be up to the region to develop an action
plan.
“It has to be the private and public sectors
working together,” he says. “It will require participation by regional chambers
of commerce, and universities will have to be a main driver. The
most effective economic development is private-sector driven.”
(Reprinted
from UTA’s Inquiry Magazine)
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