Sunday, December 18, 2005

New York, Once a Lure, Is Slowly Losing the Creative Set - New York Times:

Relentless inflation in real estate and health care costs are endangering New York's long dominance in the creative sector, according to a new report, as artists and companies migrate to less expensive cities eager to lure them.

For example, 20 years ago, New York was the headquarters for half of the world's advertising agencies, but is now home to fewer than a third, according to the report, written by the Center for an Urban Future, a left-leaning New York research group that analyzes urban policy issues.

While the city still is home to most of the American publishing industry, the number of jobs in that field fell 3 percent in the last decade in New York, while increasing in San Francisco, Boston and Denver. And from 2001 to 2004, the number of jobs in New York City's motion picture and sound recording industries declined by 36 percent.