If workers are so desperate to leave "high cost cities", why are "secondary cities" having to pay them cash to lure them out??????
Something doesn't compute.......
Agreed. I too appreciate stow's insider knowledge and promise I'll keep this on point as it relates to Winthrop Square, but...
Several recessions ago the latest corporate management fad was you need to operate with the cheapest workforce possible. That lead to outsourcing overseas, cutting the organization to the bone so there were no redundant employees, moving HQ and other operations to lower cost states. etc. I saw a lot of this in the first decade of the 2000's from my vantage point although its always been there except for maybe in the dot com boom of the late 90's.
The problem with this approach is that management's job isn't to find the cheapest employees. Its to find the BEST employees. So if you're as lean as you can be, and someone leaves, and then the rest of the company are cheap dimwits who can't cover the job, you've got a problem. This trend has been reversed as of late, sometimes to significant press coverage (insourcing of tech support that we hear about occasionally for example). So the more recent approach is having both good, if not necessarily cheap, and flexible employees and a pipeline of talent that can move up or be hired if someone leaves.
Why does this matter and how does it relate to Winthrop Square? If you're planning on moving your business elsewhere to take advantage of a lower cost of living, two things need to happen. Either 1) your employees want to relocate and are willing to take lower compensation to live somewhere cheaper, or 2) if they don't want to move there's a deep talent pool wherever you're trying to go to replace them with. This is why you're not seeing a mass exodus of companies moving to West Virginia, Arkansas, Florida, Kansas or Wyoming, but you will see companies moving to a place like Texas. Where Winthrop Square comes in is that the city and region needs to keep building office space, residential, hotels, etc so that costs of renting space don't reach Manhattan type levels and force companies who aren't driven by cost to rethink that approach. Boston has thus far done a pretty good job of this, and needs it to continue.
So to summarize, its not "if you build it they will come." It's "if you build it they will stay!".