Where the Youth Goes, Companies Follow

Companies are moving back to the city in response to a new generation of workers who prefer the urban environment over suburban office parks.

Some of the advantages of having an office located in the suburb are lower taxes, more parking, and cheaper rent per square footage. But to younger employees fresh out of college who are not looking to settle down, the suburban setting fosters very little social interaction and is seen as incredibly "unhip."

"Top recruits wanted somewhere they could work, live and play and meet other young people," explains Laura Vanderkam for CNN Money. For this reason, "the regional shopping mall and the McMansion, the suburban corporate headquarters campus is losing its charm."

Full Story: Companies head back downtown

Comments

Comments

I wish. In Toronto this

I wish. In Toronto this definitely is not happening. There is massive business park sprawl being built all the time in the suburbs (Markham, Mississauga, Brampton, Vaughan, Oakville etc.). There are a few big office buildings being built in downtown but these might account for 10% of new GTA office space or so. Office building development elsewhere in Toronto proper is very low. The main cause of this seems to be high business taxes in Toronto. Also poor transit in downtown is a major factor (there are two overcrowded subway lines in downtown, an overcrowded and horribly slow streetcar system and a commuter rail system that mostly runs in rush hours only).

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