Business Finance

Brian Ferdinand on Why New York, San Francisco, and Los Angeles are Ideal for Business

Innovation, Culture & Invigorating Populations are Key Ingredients 

America was born from a mix of imagination, innovation, and an entrepreneurial spirit of “anything is possible.” Our history has demonstrated this by creating a perfect government union, erecting major metropolitan cities in record time, and taking advantage of new technology and innovation throughout history.  Brian Ferdinand, the managing partner of SoBeNY and its parent company, CorpHousing Group, explains that America has embraced innovation throughout its history. From the great California Gold Rush to the iron and steel fueled Industrial Revolution to the marvel of the modern Internet Age, intense periods of innovation have shaped America’s economy and ignited significant societal evolutions. 

Ferdinand points out that the main ingredients needed for a thriving business community are innovation, a dynamic culture, unique amenities, a young, invigorating population to drive technology, and the presence of multinational corporation headquarters. A key indicator is the mean annual income of working professionals. When cities are thriving, people are making money. This type of synergy is ripe for luxury residential inventory where the professional workforce can appreciate and enjoy the heartbeat of a city and the value of the amenities offered.

There are many business-friendly cities in the United States.  However, there are a few that are categorized as global cities and meccas for businesses of all sizes. Here are just a few.

New York City, New York

Celebrated as the city that never sleeps, New York City makes any list that highlights a thriving, international business landscape, innovation, and world-class accommodations. In many respects, New York City is ahead of most global trends both in business and innovation and is attributed as the birthplace of modern entrepreneurship and cultural modernization. New York City’s vibe comes with an inherent global vision. The city has its finger on the pulse of global market trends and offers a prestige like no other city in the United States. For companies wanted to surge in global markets, NYC provides an unprecedented influence in a list of tier one industries, including finance, politics, and fashion, and entertainment.

And last but not least, by any means is the world’s largest stock market providing a wealth of economic benefits for entrepreneurs exploring capital markets. New York City also boasts a vibrant, young, international workforce. Graduates from the world’s leading educational institutions seek out the excitement and opportunities that the city has to offer. 

San Francisco, California

San Francisco is the innovation and technology capital of the world. Silicon Valley and other areas in the Bay area are considered to be among the most innovative, enterprising, and intelligent cities in the world. San Francisco’s unique blend of high-tech innovation, geographical beauty, and natural, creative environment attracts unique individuals and young professionals from all over the world. All these attributes result in a unique, natural, and cultural diversity that breeds a forward-thinking, open-minded atmosphere for which San Francisco is famous. 

The reputation of San Francisco is responsible for attracting inspiring entrepreneurs from across the globe and is home to some of the most highly respected, internationally renowned, fortune 500 enterprises. The wealth of businesses that form the landscape of San Francisco includes technology, biotech, and cleantech companies.

Los Angeles, California

Los Angeles County is a prosperous business ecosystem with dozens of major industries. Many refer to L.A. as the three-legged economy – aerospace, movies, and television, and tourism. With nearly 18 million people across a five-county area, the L.A. labor force is filled with an endless supply of talent, suppliers, businesses, technological R&D, and both aspiring and established entrepreneurs.  Los Angeles is also known for its creative energy and innovation, which overlap with other industries, driving new business concepts. 

To many, Los Angeles is known as the creative capital of the nation.  Many high-tech businesses are establishing roots in L.A. because of the intriguing overlap between the aerospace and entertainment industries. Gaming and animation, content development and distribution, arts, and content all factor into this dynamic business ecosystem. L.A. is also where sectors of high technology and manufacturing companies employ hundreds of thousands of young, vibrant workers.  

Honorable Mention

In addition to these well-known global cities, several others are making their way toward the top, some already there. Miami, Florida, is the gateway to Latin America and the U.S. capital of South American business, culture, and technology. Miami’s diverse economy of immigrant entrepreneurs’ fuels expansion in technology, real estate, and construction and is a major hub for travel and tourism and was recently listed among the top five cities for the most substantial business growth.

Denver, Colorado, is also a city to watch. Denver’s central location in the American West uniquely positions this Rocky Mountain-city as a prime distribution hub. Denver is also home to a growing number of aerospace, technology, and telecommunication companies. Denver is proud of its diverse, vibrant workforce and reports a very low unemployment rate. Forbes Magazine recently ranked Denver the #4 Best Places for Business and Careers.