It should come as no surprise to anyone that Boston is on fire. You don’t have to look much further than our latest Q4 statistics to see that. And now, the city has received global recognition, coming in 2nd nationally and 5th globally in JLL’s latest City Momentum Index (CMI). London, Silicon Valley, Dublin, and Bangalore join Boston in the top five.
All 120 cities covered by the CMI were assessed using more than 30 variables including recent and projected percentage changes in city GDP, population, corporate headquarter presence, office construction and office rents. Other factors included education infrastructure, environmental sustainability and the strength of a city’s technology capability.
Boston not only had a strong showing in the overall index, but also faired well on several of the report’s sub-indexes, coming in 4th globally in long-term fundamentals and 5th in real estate momentum.
“This year was further recognition that Boston is one of the most important ‘Innovation Hubs’ in the world,” said JLL New England Research Manager Lisa Strope. “Driven by unprecedented job growth in knowledge-intensive industries such as technology and life sciences, Boston has become a critical and strategic location for many growing global brands.”
“Building on our highly educated workforce and innovative engine, an unemployment rate below the national average and an influx of young workers eager to live in Boston, Boston’s economy is poised to extend its strong run of growth,” she added. “The City’s thriving economy and a general sense of optimism is evidenced by the cranes dotting the skyline.”