A    S I T E    S E L E C T I O N    S P E C I A L    F E A T U R E    F R O M    J A N U A R Y    2 0 0 0

---

The New Downtown

This new movement back downtown doesn't only make sense for cities, but for businesses as well. Locating in a thriving downtown brings those ever thinning tax dollars back into the city, instead of spreading them throughout the suburbs. With more tax dollars available, more financing can be funded to companies looking to relocate or expand, and the aging infrastructure can be upgraded, helping not only businesses shipping products, but workers trying to commute to and from work.

"Businesses ought to be locating where they have a competitive advantage, and for many that is being at the heart of the transportation corridors," says Finkle. "And in this particular time when work force is king, it makes only perfect sense that headquarters and back-office operations be located in places where employees can get to and from work, where there is a quality of life, where they can walk to restaurants, where they can meet some of their service needs. While there are some amenities in the suburbs, downtowns meet those needs much better."

Downtown locations also provide the synergies of being near competitors and suppliers. Some strong examples of this are seen in Manhattan's financial, publishing and multimedia clusters; Boston's health care and financial services groupings; and Omaha's telemarketing center. And although there hasn't been droves of high-tech companies moving downtown, says Finkle, "or not the to extent that we would expect, we are seeing design firms -- people that are involved in the arts industry -- in downtown. San Francisco is doing very well with Internet designers. And New York City has what they refer to as 'Silicon Alley.' "