Imagine that you own a small business owner that manufactures a product. You decide to move to a new city and need to find a place to call home for your business. Most of your workforce is earning around $50,000 per year (an average salary for manufacturing). Do you choose a location with a relatively low population spread across a wide area (car-dependent), high home value ($340,000) and high median household income ($97,000)? Or do you choose a densely populated location, with median household income around $40,000 and home values around $126,000? What if I told you that the denser environment featured lower rents?
Seems like a simple choice, but a lot of companies on the move find themselves directed to higher rent environments where they cannot access their workforce. Urban environments feature accessible, affordable workforce at low cost.
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