Building on Innovation

Transcription

1 Building on Innovation

2 America s First Road Trip Horatio Nelson Jackson, Sewall K. Crocker & Bud 1-2 December 2009 Source:

3 Sweeping Away the Old Rules Globalization Technology Demographics

4 Demographics US Population Pent up Demand 1-2 December 2009 Source: Population Division, U.S. Census Bureau

5 Research Triangle MSA Population, ,500,000 2,200,859 2,000,000 1,500,000 1,627,055 1,230,587 1,000, , , , , , Source: US Census Bureau

6 The Trend Setters Seniors from will be the fastest growing group this decade Will grow from 28 to 42 million a 50% growth by Children of the 60s, have redefined every age they entered When will they retire? For most, not for years Healthier and more energetic 60 is the new 50!

7 Whither Generation Y? 18 to million + The largest generation in US history At the prime household formation age But HH formation 1/4 th of what it was in 2007

8 Where will the homeownership rate go? Source: Time Magazine, September 6, 2010

9 Employment Changes Manufacturing Professional and Business Services Education and Health Services U.S. Metro % Change % Change % Change RESEARCH TRI % % % SAN DIEGO % % % PHILADELPHIA % % % BOSTON % % % RICHMOND % % % WASHINGTON % % % DENVER % % % BALTIMORE % % % SAN FRAN % % % PITTSBURGH % % % USA % % % Source: Bureau of Labor Statistics, Occupational Employment Statistics (OES)

10 Building a 21st Century City 1. Well Managed 2. Vibrant 3. Educated 4. Raw Materials 5. Entrepreneurial a. Public-Private Partnerships 6. Capital availability

11 The Foundation of Democracy: Local Government Thousands of Local Decisions Local governments: 74,019 School districts: 13,506

12 1. Well Managed New York City Homicides, Peak: 2245 Murders in 1990 Sources: Police Department City of New York, CompStat; FBI

13 2. Vibrant: Parks, Culture & Design Millennium Park, Chicago

14 3. Education: Changes in Educational Attainment, % HS Grad % Bachelors % Grad Degree U.S. Metro Research Triangle 82% 88% 20% 26% 12% 18% Greenville MSA 69% 82% 13% 18% 6% 9% San Diego 82% 85% 16% 22% 9% 13% Boston 81% 91% 17% 24% 11% 18% Philadelphia 76% 87% 14% 19% 8% 13% Houston 75% 80% 17% 18% 8% 10% Denver 86% 89% 20% 25% 9% 13% Baltimore 75% 88% 14% 20% 9% 15% San Francisco 82% 87% 22% 27% 13% 17% Pittsburgh 77% 91% 12% 17% 7% 11% U.S. Total 75% 85% 13% 18% 7% 10% Source: American Community Survey, U.S. Census Bureau

15 4. Raw Materials TOTAL 2010 U.S. R&D INVESTMENT: $395,800,000,000 Source: Battelle, R&D Magazine

16 4. Raw Materials Annual R&D Spending by Country Source: Battelle, R&D Magazine, OECD, IMF, CIA

17 It is now the largest high-tech research park in North America, boasting 20 million sq. ft. of developed space, and home to 157 companies, employing 39,000 people. It is a center of innovation. 5. Entrepreneurial: Research Triangle

18 5. Entrepreneurial Scripps Research Institute (TSRI) biomedical research facility, Florida: $310M Public Funds Louisiana State University Medical Center and Veterans Administration complex, New Orleans: $2B in Federal and State Funds Cleveland Clinic and the Lou Ruvo Brain Center, Las Vegas: $100M part of a larger development plan known as Symphony Park--a $2.8B investment.

19 5. Entrepreneurial Public Private Partnerships Public Funding: $130,000,000 (9 Sources) Private Financing: $580,000,000 (To date) Total Development Cost: $710,000,000 (To date)

20 South Side Works is a walkable mixed-use Live-Work-Play Environment

21 East Liberty Bakery Square

22 Johns Hopkins Forest City Science + Technology Park

23 UC, San Diego Torrey Pines Mesa

24 6. Venture Capital Availability: International Source: Dow Jones VentureSource, 2008; PriceWaterhouseCoopers, National Venture Capital Association

25 6. Capital Availability: Regional Region By Millions % of Total USA $ 17, % Silicon Valley $ 6,990 40% New England $ 2,161 12% NY Metro $ 1,413 8% Southeast $ 986 6% LA/Orange County $ 943 5% San Diego $ 903 5% Midwest $ 740 4% Northwest $ 705 4% Texas $ 645 4% Dc/Metroplex $ 546 3% Philadelphia Metro $ 424 2% Other US $ 1,235 7% Source: Dow Jones VentureSource, 2008; PriceWaterhouseCoopers, National Venture Capital Association

26 The NEW Measure of Growth Organic Growth Little Public Intervention Clearly Dominant Universities

27 The NEW Measure of Growth Public/Private Partnerships

28 The NEW Measure of Growth Sources: PricewaterhouseCoopers and National Venture Capital Association

29 Looking Ahead: Projected Investment, by Sector, in the Next 5 Years Source: 2010 Global Venture Capital Survey, National Venture Capital Association, Deloitte Development LLC

30 Principles of Success 1-2 December 2009

31 1. Leadership 2. Strategy 3. Institutional Capacity Chicago, Navy Pier

32 4. Financing Infrastructure 5. Education 6. Design Excellence Seattle, Public Library

33 Where Will the New Roads Lead