Business Facilities - August 2008 - (Page 44) THE FINANCIAL CENTERS INDUSTRY With so many new financial centers emerging in secondary cities around the U.S., where will your new location be? By Donna Clapp W hen you say the words “financial center,” most people immediately think of New York City, San Francisco and Chicago. And certainly these cities have a high level of financial development with a large degree of high finance firms and jobs in the areas of investment banking, corporate finance, and securities trading. High finance involves large capital transactions on behalf of firms or government entities so there’s a lot of logic to the fact that these three large centralized cities are the most well known financial centers in the United States. However, the question asked in October of 2007 by The New York Times is, are New York’s days as the world’s epicenter of finance coming to an end? The article, written by Daniel Gross, points out that “in today’s burgeoning and increasingly integrated global financial markets—a vast, neural spaghetti of wires, Web sites, and trading platforms—the New York Stock Exchange is clearly no longer the epicenter. Nor is New York. The largest mural fund complexes are in Valley Forge, PA, Los Angeles and Boston, while trading and money management are spreading globally.” New York’s status as a financial epicenter is certainly not over yet, but we are seeing other cities around the U.S. start to grow as financial centers in their own right. According to Dennis Donovan, principal/owner of location consulting firm WDGC Consulting LLC, the key factor in choosing a new location for financial services firms is a critical mass of occupational employment of people who are Series 6 and Series 7 Securities Exchange Commission (SEC) licensed. “We do at least ten searches a year in the area of financial services,” says Donovan, a location consultant for more than 30 years. “They are very much driven by labor availability.” A S P E C I A L A D V E RT I S I N G S E C T I O N O F B U S I N E S S FA C I L I T I E S 44 AUGUST 2008
Table of Contents Feed for the Digital Edition of Business Facilities - August 2008 Business Facilities - August 2008 Contents First Word Snapshots Corporate Moves: Florida Economic Development 2.0 Everything's Big in Texas Aerospace Sites: Poised for Takeoff The Nebraska Advantage Metro Spotlight: Cullman, Alabama Special Focus: Louisiana Industry Focus: Financial Centers Advertiser Index Inside LiveXChange Business Facilities - August 2008 Business Facilities - August 2008 - Business Facilities - August 2008 (Page Cover1) Business Facilities - August 2008 - Business Facilities - August 2008 (Page Cover2) Business Facilities - August 2008 - Business Facilities - August 2008 (Page 1) Business Facilities - August 2008 - Contents (Page 2) Business Facilities - August 2008 - Contents (Page 3) Business Facilities - August 2008 - Contents (Page 4) Business Facilities - August 2008 - Contents (Page 5) Business Facilities - August 2008 - First Word (Page 6) Business Facilities - August 2008 - Snapshots (Page 7) Business Facilities - August 2008 - Corporate Moves: Florida (Page 8) Business Facilities - August 2008 - Corporate Moves: Florida (Page 9) Business Facilities - August 2008 - Economic Development 2.0 (Page 10) Business Facilities - August 2008 - Economic Development 2.0 (Page 11) Business Facilities - August 2008 - Economic Development 2.0 (Page 12) Business Facilities - August 2008 - Economic Development 2.0 (Page 13) Business Facilities - August 2008 - Economic Development 2.0 (Page 14) Business Facilities - August 2008 - Economic Development 2.0 (Page 15) Business Facilities - August 2008 - Everything's Big in Texas (Page 16) Business Facilities - August 2008 - Everything's Big in Texas (Page 17) Business Facilities - August 2008 - Everything's Big in Texas (Page 18) Business Facilities - August 2008 - Everything's Big in Texas (Page 19) Business Facilities - August 2008 - Everything's Big in Texas (Page 20) Business Facilities - August 2008 - Everything's Big in Texas (Page 21) Business Facilities - August 2008 - Everything's Big in Texas (Page 22) Business Facilities - August 2008 - Everything's Big in Texas (Page 23) Business Facilities - August 2008 - Everything's Big in Texas (Page 24) Business Facilities - August 2008 - Everything's Big in Texas (Page 25) Business Facilities - August 2008 - Everything's Big in Texas (Page 26) Business Facilities - August 2008 - Everything's Big in Texas (Page 27) Business Facilities - August 2008 - Everything's Big in Texas (Page 28) Business Facilities - August 2008 - Aerospace Sites: Poised for Takeoff (Page 29) Business Facilities - August 2008 - Aerospace Sites: Poised for Takeoff (Page 30) Business Facilities - August 2008 - Aerospace Sites: Poised for Takeoff (Page 31) Business Facilities - August 2008 - Aerospace Sites: Poised for Takeoff (Page 32) Business Facilities - August 2008 - Aerospace Sites: Poised for Takeoff (Page 33) Business Facilities - August 2008 - The Nebraska Advantage (Page 34) Business Facilities - August 2008 - The Nebraska Advantage (Page 35) Business Facilities - August 2008 - Metro Spotlight: Cullman, Alabama (Page 36) Business Facilities - August 2008 - Metro Spotlight: Cullman, Alabama (Page 37) Business Facilities - August 2008 - Special Focus: Louisiana (Page 38) Business Facilities - August 2008 - Special Focus: Louisiana (Page 39) Business Facilities - August 2008 - Special Focus: Louisiana (Page 40) Business Facilities - August 2008 - Special Focus: Louisiana (Page 41) Business Facilities - August 2008 - Special Focus: Louisiana (Page 42) Business Facilities - August 2008 - Special Focus: Louisiana (Page 43) Business Facilities - August 2008 - Industry Focus: Financial Centers (Page 44) Business Facilities - August 2008 - Industry Focus: Financial Centers (Page 45) Business Facilities - August 2008 - Industry Focus: Financial Centers (Page 46) Business Facilities - August 2008 - Advertiser Index (Page 47) Business Facilities - August 2008 - Inside LiveXChange (Page 48) Business Facilities - August 2008 - Inside LiveXChange (Page Cover3) Business Facilities - August 2008 - Inside LiveXChange (Page Cover4)
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