For years New York and California ran neck and neck in real estate hiring. Today California holds the lead. Why? California invested heavily in infrastructure and it’s paying off in LA with adaptive reuse of abandoned department stores and office buildings. LA is today the number one manufacturing hub in the nation. Paul Keller, CEO of Mack Urban that developed and invested in many of the West coast live-work-play-learn projects is also responsible for ground-up transit oriented developments such as Pasadena’s Santa Fe Railroad depot. The City of LA invested 4 billion in LAX airport, 1.2 billion in its ports (home of sustainable longshoreman jobs) and 16 billion on new transit lines. And, ‘Silicon Beach’ is giving Silicon Valley a run for its money. “More venture capital funds poured into California last year than all other states combined.” So if you want to bash the Wall Street rich, bash them for investing in derivatives, rather than infrastructure and manufacturing.
Leader in Hiring
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The SelectLeaders Job Barometer, published since 2006, is the foremost survey of employment opportunities, trends, and hiring practices in the commercial real estate industry.
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