The shift to innovation, talent and capital affordability is rapidly reshaping demand for commercial real estate.

The continued movement to more affordable, lifestyle-focused cities has further diversified the landscape for innovation-focused companies and investors.

CHICAGO , March 25, 2024 /PRNewswire/ — Throughout the next decade, market specialization, talent migration, sustainability goals, and new technologies such as AI will transform the global knowledge economy and high-tech industry ecosystem. It will continue to form. The third edition of JLL's Innovation Geography examines how innovation continues to impact real estate location and portfolio strategy, drawing on the dynamics of 108 cities around the world. Compositely ranking a variety of output, capital, and talent metrics, JLL identifies eight groups of cities that span different innovation and talent concentrations, providing insight into the rapidly evolving global, regional, and national landscape. provided.

A top-performing city for innovation and talent

Capital injections into new technologies such as generative AI are driving market expansion. As emerging and alternative technologies continue to drive innovation, the San Francisco Bay Area remains a top city in the world for both innovation and talent, outpacing the majority of venture capital. R&D investment, productivity, and breadth of human resources. This is evidenced by investments in new technologies such as generative AI, with the Bay Area receiving nearly $49 billion in funding over the past three years, more than Beijing and New York combined. As in previous years, Beijing, Boston, Tokyo, London, Seoul, Singapore, Shanghai, New York and Paris continue to rank among the top hubs for innovation and talent.

But as talent shortages, rising home prices, and regulatory pressures drive expansion into lower-cost markets, cities like Austin have joined the ranks of global innovation hubs, and secondary markets are gaining ground with the breadth of talent and scale of production. It's improving. Similarly, mid-sized cities such as Brisbane, Lisbon, Manchester, Raleigh, North Carolina and Hangzhou in China are experiencing both innovation and talent growth.

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Phil Ryan, research director at JLL, said: “As innovation opportunities continue to expand globally, companies and investors need to navigate a landscape where mature and emerging hubs complement each other.” . “Finding the right balance of assets across established markets and emerging secondary and tertiary markets around the world is critical to sustained growth and resilience, especially as competition in emerging markets increases. ”

Trade and urban form are also influencing the geographies of innovation External geopolitical forces are shaping the geographies of innovation with more aggressive trade and industrial policies in the US, the EU, and China, with important We encourage domestic production and domestic production of components. The restructuring will place greater emphasis on the co-location of in-house research and development with access to transportation and logistics nodes for manufacturing companies. Phoenix, Columbus, Berlin, and Japan's Fukuoka are just a few of the cities where these policies are creating multibillion-dollar semiconductor and high-tech materials manufacturing plants in and around their metropolitan areas. .

Sustainability and efficiency standards also continue to drive innovation, as many of the fastest-growing innovation hubs, particularly those in Asia and the United States, are most at risk from the effects of climate change. Advances in green prop technology are critical in helping reduce emissions from existing buildings, which will account for over 80% of future inventories in 2050. Sydney's Tech Central, Singapore's Jurong Innovation District, Philadelphia's Schuylkill Yards and Manchester's ID demonstrate the ability of innovation to drive multifaceted regeneration.

To learn more, download the Innovation Geography whitepaper here.

About JLL For more than 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients purchase, construct, occupy, and We have supported management and investment. . A Fortune 500 company with annual revenues of $20.8 billion and operations in more than 80 countries, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities see a brighter way forward. JLL is a brand name and registered trademark of Jones Lang LaSalle Incorporated. For more information, please visit jll.com.

Contact: Allison Heraty Phone: +1 312 228 3128 Email: [email protected]

Plan for innovation and talent focus

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