Boston has cemented its place as one of the nation’s prime technology hubs, and its status as a global leader in research and technology continues to rise. For the fourth straight year Boston ranks among the top 10 cities globally in JLL’s City Momentum Index, moving up the list and coming in at 5th in the world.
The Index tracks a broad range of factors to identify those cities which possess the attributes for success over the short and long term. It covers 131 major established and emerging business hubs that have the potential to maintain socio-economic and commercial real estate momentum over the short and long term.
Forty-six variables are used to calculate the Index rankings including higher education infrastructure, innovation capability, corporate headquarter presence, and commercial real estate construction. For the time, this year’s Index focuses on two separate elements of city dynamism: short-term market momentum and ‘future-proofing’ for longer-term success. New indicators include the number of technology ‘unicorns’ created in each city and the quality of public transport infrastructure.
Not surprising, Boston led the rankings for education infrastructure due to its unique concentration of some of the world’s leading research institutions and human capital. With the growing technological shift in the global economy, technology continues to be a key driver for cities. Boston’s presence amongst the leading innovation hubs doesn’t appear to be going away anytime soon, as it continues to attract new startups and established growing companies to its neighborhoods.
For a more in-depth look at the variables contributing to this Index, download the full City Momentum Index.