With a market size of nearly $900bn, the United States has one of the world’s largest commercial real estate markets, coupled with some of the most desirable business locations to match. This post serves as the first part of our examination into the US market’s performance based on data from Q4 2020 and Q1 2021.
The city of Boston has histrorically had a reputation for its international ports and its textile manufacturing industry. Manufacturing in general has dropped in the US over the years, however while the textile manufacturing industry still remains very strong in Boston, other industries have become more dominant in the last 20 years, and Boston continues to be a viable economic center that is still experiencing growth.
Major Industries in Boston
The economy in Boston has seen a shift away from textile manufacturing and more towards technology manufacturing and service industry jobs. The major industries in Boston can be broken down into the urban industries and the suburban industries. In the city of Boston itself, the primary industries are finance and professional services. The city also contains much of Boston’s technology manufacturing as well.
The suburban areas of Boston rely primarily on technology manufacturing and national defense. The outlying areas of Boston are populated with a wide variety of skilled technical workers and military bases. Read the rest of this entry »
The Adams family was one of these families. Charles Francis Adams IV was born in Boston, graduated from Harvard in 1932 and attended Harvard Graduate School of Business Administration. In later life he was awarded honorary degrees from Bates College, Northeastern University, Suffolk University and Tufts University. He spent his working life in industrial electronics and was the first president of the Raytheon Company.
Boston’s Lowell family was another of the Brahmins. The Honorable John Amory Lowell became first Treasurer of both the Merrimack Manufacturing Company and Boott Cotton Textile Mills. He acted as Director of the Winnipiseogee Lake Cotton and Woolen Manufacturing Company. Lowell was a Fellow of the American Academy of Arts and Sciences and Harvard College. He was a member of the Linnean Society of London and Harvard honored him with an LLD. His financial acumen and high intellect allowed the Lowell Institute to flourish, supporting celebrated personalities in science, literature, politics, economics, theology and philosophy. Read the rest of this entry »
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