May 25th, 2015
Overview of Business in Denver
Over the past few years, Colorado’s capital city has been making great progress in diversifying its economic base, attracting an increasing number of new businesses in a variety of industries. As a result, Denver is currently considered one of the key commercial real estate markets to watch. A survey published by the Denver Business Journal in 2014 revealed that more than half of the interviewees gave a good rating to the city’s office and retail property market, classifying them as definite ‘buys’. The same report cites industrial diversity as one of the most attractive features of the local economy and as the principal driver of business in the city. These factors have positioned Denver as one of the best US cities for small-sized businesses, as the city ranks as high as New York and Miami in terms of business per capita, industry variety, and net growth.
Major Industries and Key Economic Drivers in Denver
Since the 1990s, new technologies have been driving growth in the local economy. High-tech companies are mainly clustered around the business parks located to the northwest of the city centre, such as the Westmoor Technology Park, Centennial Valley, and the Interlocken Advanced Technology Park. According to Forbes, over the past five years industry sectors like renewable energy, telecommunications, and aerospace have grown in importance and now constitute key economic drivers for the local economy. Read the rest of this entry »
April 13th, 2015
When a company decides to relocate to a new location, whether they are an SME or a corporate giant, the relocation project can be complex. Whether a business relocates in-state, across the country or internationally, it requires a team of planners with diverse skills and experience to accomplish a smooth, seamless relocation process.
In addition to the actual relocation planners involved, there are often additional teams of assistants that are required. These include:
- Personnel and human resources experts and recruiters
- Corporate legal advisers
- Real estate managers and supervisors
- Tax and/or CPA specialists
- Environmental consultants
These are a few of the teams needed to accomplish relocation with minimal disruption.
The size of a company will relate to the size of the relocation project and amount of planning. There is much less involved in relocating a law firm comprised of a half dozen employees than a research laboratory with two dozen research personnel and administrative associates.
Small to moderately sized offices are generally easier to relocate than manufacturing and retail facilities with several detached buildings in the facility’s complex. Read the rest of this entry »
March 31st, 2015
Overview of Business in Manhattan
For decades, Manhattan has been a global business hub of undisputed prestige. This New York borough is home to some of the world’s most successful businesses and to the largest stock exchange in the world. Manhattan has repeatedly topped the global lists of most powerful cities, staying ahead of other leading business hubs like London, Dubai, Hong Kong, or Shanghai. Due to its excellent infrastructure, world-class business environment, and valuable human capital, Manhattan is the world’s most desirable business location . The borough’s thriving business scene is a catalyst for economic growth, and this is reflected in the local employment levels. According to the NYCEDC, more than 310,000 jobs are based in this borough, tens of thousands of which have been created in the private sector since 2005.
The banking and financial sector is the key economic driver for the local economy. More than 300,000 people are employed in this industry, which according to the Federal Reserve generates more than 35 per cent of the city’s income. The service sector is another key industry in Manhattan, as it employs over 1 million people in areas like tourism (over 240,000 jobs), professional and business services (287,000 jobs), or healthcare and social assistance (208,000 jobs).
The number of technology, advertising, media, and information companies (TAMIs) has skyrocketed since 2009. Back then, TAMIs barely occupied 100,000 square feet of space in Manhattan, but at the end of 2014 that figure had increased to more than 1.6 million. A report published by the Downtown alliance estimates that this sector is comprised of over 800 firms that generate a combined annual output of $125 billion and that employ nearly 29,000 people. Likewise, Manhattan has recently been attracting a steady number of creative firms. According to an article published at the Wall Street Journal, the number of employees working in creative ventures in this part of Manhattan has increased by 71 per cent over the past five years. Read the rest of this entry »
February 24th, 2015
Overview of Business in Los Angeles
A variety of industries help to make Los Angeles the successful economic center that it is. The city attracts businesses in the tourism, TV/film, hospitality and technology industries. These are not the only industries that thrive in the city, however. Traditional industries like law, finance and medicine also create jobs for residents in the city. Young professionals are attracted to the opportunities presented by the technology, medical and information industries.
International trade is also a major driver of the economy of Los Angeles, with its twin ports handling more than forty percent of both inbound and outbound containers for the whole country. More than one hundred and sixty thousand workers support the international trade sector in L.A. county.
Major Industries & Key Economic Drivers in Los Angeles
Technology continues to be a driving force behind the economy in L.A. and a number of major tech companies have their corporate offices in city and its surrounding areas. The information industry continues to provide numerous job opportunities for young graduates, in particular, the film and video gaming industries. The biotech industry is also combining with the information industry to create new applications that are beneficial for the health of society. Read the rest of this entry »
February 12th, 2015
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 »
October 30th, 2014
Since the discovery of oil in Houston, Texas in 1901, the city has relied on energy revenue for its growth and survival. That means that Houston followed the trends of energy prices, which took nose dives in the 1970’s, 1980’s and 2000’s. But each time, Houston was able to bounce back and open up new areas of energy exploration and refining that have allowed the city to grow. As time has gone by, Houston has learned to diversify its economy and a new Houston is starting to emerge from under the shadow of the energy industry.
Major Industries in Houston
One of the industries that Houston has turned to for balancing out the energy sector is the chemical manufacturing industry. Today, the city of Houston and its associated industries produce almost 40 percent of all of the basic chemicals used by domestic and international industry. It is estimated that nearly 40,000 people in Houston area work in the chemical manufacturing and refining industry.
Along with energy and chemical manufacturing, Houston also relies heavily on the technology sector for jobs. The space exploration and engineering industry in Houston employs well over 17,000 people as scientists and engineers. The Houston economy benefits significantly from its abundance of high-paying jobs.
Key Economic Drivers in Houston
While Houston benefits greatly from advances in its energy and chemical industries, one of the prime economic drivers for the city’s economy is its growth in the service industries. Nearly 16 percent of the Houston working population work in insurance sales, real estate and personal finance. This number continues to grow and so does the revenue generated by these industries. Read the rest of this entry »
October 8th, 2014
Overview of Business in Miami
In recent years, Miami has begun to attract major industries and corporations. The low tax rates of Florida make doing business attractive for corporations. In addition, the state also maintains numerous tax incentive programs that provide refunds for corporations that create jobs for residents. Logistically, businesses also find that opening an office in Miami makes sense. Because Miami is located on the coast, it is easy for corporations to engage in trade with foreign entities. The Port of Miami has enabled the cruise industry to thrive in the state.
Major Industries & Key Economic Drivers in Miami
In Miami, tourism makes up one of the most popular industries. Tourism is also a popular industry for greater Florida. Miami features prime beaches and real estate. In 2003, about nine million tourists spent over $10 billion on vacationing in Miami.
Another reason Miami continues to be a popular location for major corporations is due to its location as a port. The Port of Miami enables businesses to engage in international trade. Numerous port brokers and customs agents are located in the area to facilitate the process of international trade. There are also two free trade zones located in Miami, which are the Miami Free Zone and Homestead Free Zone. Over 252,000 employees currently work in the trade and transportation industries in Miami.
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August 20th, 2014
Working too much has the potential to give a person unnecessary anxiety and stress. If you never take time for yourself on the weekends, you run the risk of depression, weight gain, anxiety and even a heart attack. Many industries are beginning to recognize the importance of promoting “work-free weekends.” A recently published Slate article indicated that even the investment banking industry has instituted work-free weekends for employees due to the manner in which they promote a worker’s health and productivity.
Promoting Productivity in the Office
Those who continuously work and fail to take time off of work are likely to suffer from burn out from their jobs. A two-day weekend gives a worker the chance to get away from his or her office responsibilities and recharge the batteries. After spending a weekend away from work, an employee can feel renewed and refreshed on Monday morning. An employee is able to focus on the task at hand and has increased levels of concentration.
Getting the Exercise You Need
The weekend gives many employees the opportunity to get in a good workout. During the week, some workers may find that it is nearly impossible to get to the gym. The weekend provides an employee with an uninterrupted period of time in which he or she can work out for hours at a time. Those who have to sit for extended periods of time may find that the weekend provides a welcome break from sedentary habits. Sitting for extended periods of time has been linked to serious health issues like heart attacks, death and cancer. Read the rest of this entry »
March 21st, 2014
Back in 2008, the Office Business Center Association indicated that of total revenue accrued, 7% was from virtual office services. Some locations reported over 10% of revenues came from virtual office services.
Since the inception of virtual office services and its implementation into the everyday interactions of many places and people, the percentage increase in usage has more than doubled.
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March 4th, 2014
It is easy to take health and safety in the office for granted, until someone gets injured in an accident that could have been prevented. The Occupational Health & Safety Administration, also known as OSHA, has a comprehensive set of guidelines that every office can follow to keep workers safe.
When it comes to office safety, there are some key areas to consider. Your office desks, cubicles, and office accessories all need to be treated with the proper respect if you are going to avoid accidents and injuries. The worst mistake you can make is assuming that you are safe from danger just because you are in an office.
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