Ex HUD Secretary Henry Cisneros says urgan investment critical to robust economy
EX-HUD SECRETARY HENRY CISNEROS SAYS URBAN INVESTMENT CRITICAL TO ROBUST ECONOMY
by American sociobiologist, Rebecca D. Costa
The largest migration of humans in history is currently underway. According to the Census Bureau, the population living in U.S. metro areas grew by 2.3 between 2012 and 2013, with approximately 270 million residing in or around American cities. A similar phenomena can be observed in the rest of the world, as humans are on the march from rural to urban areas in greater numbers than previously seen.
“People are coming for the jobs,” said Henry Cisneros, former Secretary or Housing and Urban Development in the Clinton administration, on The Costa Report. “The question is: Will this be better for mankind? Is it possible to imagine an urban future where people can work, live, trade, worship, gather, and recreate in places that are conducive to good, quality human lives? That’s the challenge before us. We have to make this moment of
urban opportunity and demographic change into a positive thing all around the world.”
Cisneros the engine behind the urban migration includes jobs in hospitality, international trade, new media, bioscience, and technology. He points out that currently 65
percent of the U.S. population lives in the 100 largest cities – cities that are responsible for 75 percent of the GNP and also where 78 percent of all research, patents, and
technological breakthroughs originate. These figures indicate the vital connection between urban investment and the overall economic prosperity of the U.S. economy.
Cisneros cites struggling cities like Detroit, Cleveland, New Orleans and Youngstown, Ohio, as strong opportunities for growth and progress.
“What is Detroit’s principal argument for economic activity today? Land, space,
buildings, low rents … those are reasons to come locate your business in Detroit. And lo and behold, it’s actually happening: Quicken Loans, and other companies, recently bought 50 buildings in downtown. There are incubators sprouting up in old factory space. Young people who can’t afford rent in New York or Silicon Valley are gravitating to Detroit.”
Cisneros concluded, “Whether they’re on the East Coast, West Coast, or in the heartland, all of our major cities are going to have better days ahead.”
To hear the full interview with Henry Cisneros listen to The Costa Report