Which Small Towns Attract Startups?

Shawn Kaskie Author

07/07/2025 Added

4 Plays

Description

Brad Lubben and Cheryl Burkhart-Kriesel speak about a research study that collected data from 20 small towns in Iowa about which small towns attracted startups and why, and how this can translate to rural Nebraska. Recorded February 24, 2021.

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[00:00:00.000]team when Rural Futures fellows
[00:00:02.020]existed. Cheryl and I have a
[00:00:04.370]longer relationship working on
[00:00:06.990]the
[00:00:07.220]Nebraska Rural Poll, and I'll
[00:00:08.740]reference some data from that
[00:00:10.230]towards the end of the
[00:00:11.300]presentation.
[00:00:12.260]I work in Lincoln in the Ag
[00:00:14.220]Economics Department, live just
[00:00:16.490]east of Lincoln, but in fact, I'm
[00:00:19.000]online with you today from
[00:00:20.960]Omaha, where I'm up at Children's
[00:00:23.500]Hospital as our oldest son is
[00:00:25.700]recovering from some surgery.
[00:00:28.190]So as we talk about rural
[00:00:29.800]Nebraska and rural places, I'm
[00:00:32.860]reminded that
[00:00:33.580]even if I think I'm from rural
[00:00:35.360]Nebraska, I'm really from a
[00:00:37.300]pretty populated end of the
[00:00:38.860]state
[00:00:39.340]within 50 miles of one of the
[00:00:41.700]best children's hospitals in
[00:00:43.890]the country. So my perspective
[00:00:47.100]obviously is perhaps different
[00:00:49.920]than a more rural setting, but
[00:00:52.480]hopefully we have some
[00:00:54.060]insight to share here.
[00:00:55.700]Sounds good. Next, Sean?
[00:00:58.080]You want to click the next
[00:01:04.160]paragraph there? I thought it
[00:01:06.580]was important to really
[00:01:08.000]to kind of understand what this
[00:01:10.540]study was really looking at and
[00:01:12.980]how it was set up.
[00:01:14.300]Because Iowa is not Nebraska,
[00:01:16.640]but I think there are some kind
[00:01:18.840]of lessons learned. So just as
[00:01:21.790]a
[00:01:21.960]little bit of background, this
[00:01:23.450]study really looked at
[00:01:25.700]eight small towns, and they did
[00:01:26.900]look at small towns from
[00:01:28.560]population size of 500 to 10,000,
[00:01:31.150]which
[00:01:31.360]not always happens in research.
[00:01:33.430]And it looked from this period
[00:01:35.360]of time from 95 to 2014. That
[00:01:38.440]was the
[00:01:38.760]best data they could have. So
[00:01:40.720]fundamentally, it looked at one
[00:01:42.010]community from each county in
[00:01:43.520]Iowa,
[00:01:43.840]and these communities didn't
[00:01:46.350]share a border with metro areas.
[00:01:49.110]So I think all of those things
[00:01:51.250]are
[00:01:51.380]important when you think about
[00:01:53.250]how do these small towns really
[00:01:55.020]attract new businesses. And so
[00:01:58.520]those are some of the basics.
[00:02:00.220]Sean, you want to do another
[00:02:02.060]click? I think there's some
[00:02:03.370]more on this slide. Whoops,
[00:02:05.440]there we go. And the real key
[00:02:08.400]question on
[00:02:09.400]the research side was, what are
[00:02:11.140]the key growth factors for
[00:02:12.550]small towns? How were they able
[00:02:14.350]to
[00:02:14.560]sort of pull these new firms in?
[00:02:17.640]So as you think about that,
[00:02:20.170]there has to be some kind of a
[00:02:22.740]baseline. So the study did
[00:02:24.210]share this. So the study did
[00:02:25.000]share this. So the study did
[00:02:25.000]share this.
[00:02:25.000]For this group of communities,
[00:02:27.750]the new firm entry rate
[00:02:29.670]measured by what's there
[00:02:32.490]already and then
[00:02:33.720]what is added, the average
[00:02:35.790]really was 4% for the early
[00:02:37.700]1990s. So there was a 4%
[00:02:40.320]increase in new
[00:02:41.580]firms coming into these
[00:02:43.340]communities. But it also ranged
[00:02:45.890]from 1.4% to 11.4%. So then it
[00:02:50.630]did change.
[00:02:52.780]The average was 8%.
[00:02:55.000]It was 8% in the early 2000s.
[00:02:56.990]And then again, it changed
[00:02:59.000]again. It declined to 2%
[00:03:00.750]average in the early 2010s,
[00:03:03.140]where it really ranged from a
[00:03:05.740]fraction, 0.2% to 5%. So you
[00:03:08.920]can see over that period of 20
[00:03:10.900]years,
[00:03:11.400]there was quite a fluctuation
[00:03:13.650]in new growth entry into some
[00:03:15.810]of these towns. And so they
[00:03:17.860]were up front
[00:03:18.520]and kind of given that as a
[00:03:19.890]baseline to look for. So next.
[00:03:25.000]So they set up the study with
[00:03:28.910]what do we know about new
[00:03:31.860]businesses as they come into
[00:03:34.560]communities.
[00:03:35.180]And so again, they started not
[00:03:36.820]only with established, but also
[00:03:38.590]these new startups. So
[00:03:40.360]from their perspective,
[00:03:42.050]entrepreneurs and startups, you've
[00:03:44.510]got that benefit of the
[00:03:46.020]increased dollar flow. They
[00:03:48.130]often bring in new employees.
[00:03:49.960]As a locally owned business,
[00:03:52.080]it's a real plus because they
[00:03:53.400]have helped stabilize that
[00:03:54.670]local,
[00:03:54.980]um, employment from shocks. So
[00:03:57.530]another term they use in this
[00:03:59.680]agglomeration economies. And so
[00:04:02.840]really
[00:04:03.140]this is the concentration of
[00:04:05.100]suppliers, customers, the work
[00:04:07.470]base, the labor base,
[00:04:09.180]tech innovators, and investors.
[00:04:11.170]Um, and all of that's really
[00:04:12.720]important to urban growth.
[00:04:14.420]Um, and so they wanted to also
[00:04:16.470]measure those things for rural
[00:04:18.650]areas. So as I think about
[00:04:20.680]this agglomeration economies or
[00:04:22.420]economies of scale, it's really
[00:04:24.130]about sort of,
[00:04:24.960]that cluster of support
[00:04:27.520]networks, um, that are there to
[00:04:29.740]really help the business. And
[00:04:31.560]so, um,
[00:04:32.260]when you've got that, when you've
[00:04:34.180]got several businesses in the
[00:04:35.650]same area that can kind of
[00:04:37.180]feed off of each other and work
[00:04:38.690]together, it lowers some
[00:04:40.030]transportation costs, got
[00:04:41.570]better
[00:04:41.980]labor, um, opportunities, they're
[00:04:44.360]better matching between buyers
[00:04:45.770]and sellers and firms and
[00:04:47.110]workers
[00:04:47.660]as well. And then some interplay
[00:04:49.590]between technology and
[00:04:50.930]information. So that diffusion
[00:04:52.910]piece. So,
[00:04:53.880]so when you've got a group, you've
[00:04:54.940]got a group of people, you've
[00:04:54.940]got a group of people,
[00:04:54.940]you've got a group that's there.
[00:04:56.100]Um, that's really important. So,
[00:04:57.560]um, this comes out later.
[00:04:59.800]And so I wanted to make sure
[00:05:01.270]that, that it was understood
[00:05:02.830]for that agglomeration for this
[00:05:04.760]study,
[00:05:05.380]it includes the measurement of
[00:05:07.680]cluster specialization, which
[00:05:09.650]to be honest, the,
[00:05:11.240]the study didn't talk very much
[00:05:12.730]about it because it didn't end
[00:05:14.160]up being very important.
[00:05:15.580]So, um, so that would be the
[00:05:18.480]degree of which, um, within
[00:05:21.510]that kind of, um, area,
[00:05:24.920]um, there was some, um, is some
[00:05:27.290]specialization. So, um, the
[00:05:30.270]degree of local competition was
[00:05:32.020]also
[00:05:32.320]measured access to upstream
[00:05:34.320]firms. So the people that you'd
[00:05:36.640]be selling to and access to
[00:05:38.560]downstream
[00:05:39.120]firms, which in my mind, I
[00:05:40.730]think of as it's kind of those,
[00:05:42.550]uh, possibly suppliers, one of
[00:05:45.020]the two,
[00:05:45.600]and then that industrial
[00:05:46.900]diversity. So, um, you know,
[00:05:48.670]what kind of a mix do you have
[00:05:50.120]in
[00:05:50.220]your communities? So you've got
[00:05:51.920]the, um, the people that you
[00:05:53.160]sell to and the people that you
[00:05:54.640]buy
[00:05:54.900]from, um, as part of this agglomeration
[00:05:57.880]concept as well. Okay. Next, um,
[00:06:04.640]from their perspective in
[00:06:05.920]this study, um, again, they
[00:06:07.920]were saying, you know, what do
[00:06:10.000]we know? And, uh, from past
[00:06:11.990]research and
[00:06:12.940]in their, the literature that
[00:06:14.430]they cited and how they framed
[00:06:15.720]up the study, rural business
[00:06:17.080]success
[00:06:17.540]was often associated with
[00:06:19.300]social capital. Um, so it was
[00:06:21.490]that relationship that really
[00:06:23.540]kind of helped,
[00:06:24.880]um, information sharing and,
[00:06:26.800]and bolstering. So, um, and in
[00:06:28.850]some places, in some of the
[00:06:30.600]research,
[00:06:30.940]it said that this social
[00:06:32.450]capital that we have in small
[00:06:34.120]towns actually helps make up
[00:06:35.890]the difference
[00:06:36.640]of that lack of, um, agglomeration
[00:06:39.640]or that support network. So
[00:06:42.960]also it's just kind of
[00:06:44.740]the opposite for rural business
[00:06:46.410]survival. Social capital is
[00:06:48.020]important, less so in urban
[00:06:49.680]areas.
[00:06:50.320]Okay. So another thing that we
[00:06:52.400]know is that human capitalist
[00:06:54.340]skills,
[00:06:54.860]and talents, and this is pretty,
[00:06:56.810]pretty basic stuff is critical
[00:06:58.240]to economic growth because
[00:06:59.620]of labor. And then that just
[00:07:01.370]the knowledge that you also
[00:07:03.180]have, um, and from their
[00:07:04.530]perspective,
[00:07:05.580]local taxes and government
[00:07:07.660]expenditures, um, you know, how
[00:07:10.390]a local area plays into that is
[00:07:12.680]really,
[00:07:13.280]um, sometimes good and
[00:07:14.530]sometimes not so good. So it
[00:07:16.090]was ambiguous. I mean, it had,
[00:07:17.840]had pluses and minuses in terms
[00:07:20.470]of natural amenities. Um, it
[00:07:23.210]was really, um,
[00:07:24.840]um, that ability to attract
[00:07:26.490]workers and retirees, but there's
[00:07:27.910]a trade off there because
[00:07:29.230]housing
[00:07:29.520]costs, um, were typically
[00:07:31.930]higher. So in terms of what
[00:07:34.150]brings people into town, it
[00:07:35.880]brings those
[00:07:36.380]businesses in. Those are some
[00:07:38.720]of those baseline pieces that
[00:07:40.890]they used in the study as, um,
[00:07:43.240]as
[00:07:43.680]supports to kind of frame it up.
[00:07:45.620]So in terms of the results, go
[00:07:47.360]ahead and the next one,
[00:07:48.660]you're doing a great job, Sean.
[00:07:54.820]It's still proved that clustering
[00:07:58.440]of, um, you know, having, being
[00:08:00.660]in the right place at the
[00:08:01.700]right time sort of thing is
[00:08:03.500]important in for rural
[00:08:05.070]communities. So that proximity
[00:08:07.470]to upstream
[00:08:08.080]and downstream firms really
[00:08:10.250]helps attract entry. So if, you
[00:08:13.110]know, once you have that
[00:08:14.840]established,
[00:08:16.020]it kind of feeds on itself. So
[00:08:17.990]in my mind, it's really that
[00:08:19.830]being in the right place and
[00:08:21.580]then
[00:08:22.000]kind of building that base so
[00:08:24.160]that you,
[00:08:24.800]you are the right place. Okay.
[00:08:26.340]So as a part of that agglomeration,
[00:08:28.830]having at least one local
[00:08:30.060]competitive business firm
[00:08:32.830]increases firm entry. So I was,
[00:08:35.300]I was thinking a little bit, um,
[00:08:37.220]that,
[00:08:37.640]you know, in my mind, it's kind
[00:08:39.410]of like if they can do it, I
[00:08:40.630]can do it, but it's also
[00:08:42.400]sometimes
[00:08:42.880]that local competitive business
[00:08:45.420]may be also, um, a place where
[00:08:47.800]you can share transportation.
[00:08:50.380]You can share, um, some ideas.
[00:08:52.700]Sometimes you share labor,
[00:08:54.780]back and forth, which may not,
[00:08:56.380]which may be more competitive,
[00:08:58.250]but, um, it gives you a little
[00:08:59.820]play.
[00:09:00.320]Um, and so sometimes in our
[00:09:02.220]small towns, I think what can
[00:09:04.020]look competitive, maybe more,
[00:09:06.560]um,
[00:09:07.200]collaborative than you think.
[00:09:09.350]And then another piece of that
[00:09:10.910]is a mix of industrial sectors
[00:09:12.680]really supports firm entry. So,
[00:09:15.610]um, really it was about that
[00:09:17.940]mix of businesses is a plus,
[00:09:20.200]uh, as seen from those folks
[00:09:22.430]that are coming into,
[00:09:24.760]um, uh, and looking at your
[00:09:26.390]community as a, as a place to
[00:09:28.040]do business.
[00:09:29.020]So that agglomeration was, was
[00:09:31.230]critically important. Human
[00:09:33.590]capital matters.
[00:09:34.980]So higher concentrations of
[00:09:36.610]educated people, higher median
[00:09:38.550]incomes attract firm entry.
[00:09:40.660]So, um, there's also kind of an
[00:09:42.680]underlying piece here that more
[00:09:44.700]income often leads to more
[00:09:46.420]disposable income spent locally.
[00:09:49.690]So, um, again, that once you
[00:09:52.420]get a churn of, um,
[00:09:54.740]of folks with skills and
[00:09:56.490]talents that has a tendency to
[00:09:58.700]be attractive to more firms
[00:10:00.490]coming
[00:10:00.800]in. Okay. Next Sean. Then in
[00:10:05.310]terms of, um, local
[00:10:09.840]relationships and social
[00:10:11.540]capital do have an impact
[00:10:13.120]now for social capital, there's,
[00:10:15.710]they usually identified two
[00:10:17.790]kinds. One is what they call
[00:10:19.840]bonding social capital. And
[00:10:21.480]that's really, I'm thinking
[00:10:23.040]what we normally connect with,
[00:10:24.720]and that's usually your
[00:10:25.780]connections and relationship
[00:10:27.190]with friends and organizations.
[00:10:29.260]And really that does have a
[00:10:30.770]tendency to increase firm entry
[00:10:32.540]helps launch them. Now bridging
[00:10:35.140]social
[00:10:35.540]capital, really reaching across
[00:10:37.800]groups or across communities
[00:10:39.510]really, um, didn't seem to have
[00:10:41.260]that
[00:10:41.500]firm support. So, uh, but
[00:10:43.800]having a support network is
[00:10:45.760]important. Okay. So, and that's
[00:10:48.580]one of the
[00:10:48.940]things we can do in rural
[00:10:50.410]communities and you see it
[00:10:51.910]happen all the time. Uh, local
[00:10:53.860]government,
[00:10:54.700]um, has a role in firm
[00:10:56.140]attraction. Um, what they found
[00:10:58.490]in the study when they looked
[00:10:59.390]across all of
[00:11:00.120]these communities was if local
[00:11:02.210]government can pull in more
[00:11:04.090]resources than they tax locally,
[00:11:06.240]this will attract new business
[00:11:08.300]entry. Uh, another kind of like
[00:11:10.580]almost a side effect is that
[00:11:12.520]county
[00:11:12.880]seats seem to be more
[00:11:14.180]attractive than other small
[00:11:16.070]towns. And it may very well be
[00:11:18.090]because of, um,
[00:11:20.160]but a lot of factors that were
[00:11:21.610]above, including, you know,
[00:11:23.230]that agglomeration or,
[00:11:24.680]or the mix of businesses and
[00:11:26.280]human capital and a variety of
[00:11:28.030]other things. But that's what
[00:11:29.980]they did notice. The county
[00:11:31.600]seats seem to be able to pull
[00:11:33.250]in more businesses than other
[00:11:34.990]localities. And then natural
[00:11:36.860]amenities also attract new
[00:11:38.460]firms. So, you know, in our
[00:11:40.250]area, you know, you obviously
[00:11:42.110]think about, for me, it's, it's
[00:11:44.090]Dawes County and Shadron and
[00:11:45.740]the, and all of the, um,
[00:11:47.410]opportunities that you have in
[00:11:49.070]that northern part of the Panhandle,
[00:11:51.260]um, and even around the Scottsbluff
[00:11:53.390]area, those, um, you know,
[00:11:54.660]those are things that we're
[00:11:54.660]going to be able to pull in.
[00:11:54.660]Okay. So next, now they went
[00:12:24.640]one more step. And if you want
[00:12:24.640]to go to the next slide, they
[00:12:24.640]really asked, so how does this
[00:12:24.640]all play out? What's more
[00:12:24.640]important? And so the first
[00:12:24.640]piece really, um, was human
[00:12:24.640]capital measured by education
[00:12:24.640]income. And then another big
[00:12:24.640]factor, again, was that agglomeration,
[00:12:24.640]like cluster specialization,
[00:12:24.640]localization,
[00:12:24.640]local competition, access to
[00:12:26.530]both upstream and downstream,
[00:12:28.580]and then that mix, your
[00:12:30.370]business mix, um, and
[00:12:31.500]industrial diversity. So those
[00:12:33.970]two things, the human capital
[00:12:36.280]part, and that, you know, being
[00:12:39.150]kind of in the, the right, uh,
[00:12:41.630]right place with a mix of
[00:12:43.630]different things, that context,
[00:12:44.800]that business context and
[00:12:46.850]support, they raise, uh, the
[00:12:48.930]probability of firm entry by
[00:12:50.960]almost 40%.
[00:12:54.620]Okay. And then there's one more.
[00:13:09.490]Social capital, again, the
[00:13:11.530]bonding part where you support,
[00:13:13.800]um, your business and, and it's
[00:13:16.070]more kind of a relationship
[00:13:17.950]based piece, um, was the
[00:13:19.830]positive, but in terms of like
[00:13:21.830]reaching out to other
[00:13:23.320]communities,
[00:13:24.600]or to other organizations, that
[00:13:27.910]didn't seem to have much of an
[00:13:29.150]impact. So that social capital,
[00:13:31.260]when you, when you define it by
[00:13:32.560]both, only raises the
[00:13:33.890]probability by 3%.
[00:13:35.440]Okay, next.
[00:13:37.660]So the authors concluded that,
[00:13:39.830]again, this big look over 20
[00:13:41.930]years of, um, and towns
[00:13:43.550]attracting the most entrants
[00:13:45.480]were those with the greatest
[00:13:47.350]endowments, the greatest
[00:13:49.130]capacity, the greatest, you
[00:13:51.150]know, opportunities for human
[00:13:53.250]capital.
[00:13:54.580]Okay, next.
[00:13:54.640]So the authors concluded that,
[00:13:54.640]again, this big look over 20
[00:13:54.640]years of, um, and towns
[00:13:54.640]attracting the most entrants
[00:13:54.640]were those with the greatest
[00:13:54.640]endowments, the greatest
[00:13:54.640]capacity, the greatest
[00:13:54.640]opportunity for human capital.
[00:13:54.660]Okay, next.
[00:13:54.700]So the authors concluded that,
[00:13:54.700]again, this big look over 20
[00:13:54.700]years of, um, and towns
[00:13:54.700]attracting the most entrants
[00:13:54.700]were those with the greatest
[00:13:54.700]endowments, the greatest
[00:13:54.700]capacity, the greatest
[00:13:54.700]opportunity for human capital.
[00:13:54.700]Okay, next.
[00:13:54.720]So the authors concluded that,
[00:13:54.720]again, this big look over 20
[00:13:54.720]years of, um, and towns
[00:13:54.720]attracting the most entrants
[00:13:54.720]were those with the greatest
[00:13:54.720]endowments, the greatest
[00:13:54.720]capacity, the greatest
[00:13:54.720]opportunity for human capital.
[00:13:54.760]Okay, next.
[00:13:54.800]So the authors concluded that,
[00:13:54.800]again, this big look over 20
[00:13:54.800]years of, um, and towns
[00:13:54.800]attracting the most entrants
[00:13:54.800]were those with the greatest
[00:13:54.800]endowments, the greatest
[00:13:54.800]capacity, the greatest
[00:13:54.800]opportunity for human capital.
[00:14:16.900]Okay, next.
[00:14:17.140]So the authors concluded that,
[00:14:17.140]again, this big look over 20
[00:14:17.140]years of, um, and towns
[00:14:17.140]attracting the most entrants
[00:14:17.140]were those with the greatest
[00:14:17.140]endowments, the greatest
[00:14:17.140]opportunity for human capital.
[00:14:17.140]Okay, next.
[00:14:17.180]So the authors concluded that,
[00:14:17.180]again, this big look over 20
[00:14:17.180]years of, um, and towns
[00:14:17.180]attracting the most entrants
[00:14:17.180]were those with the greatest
[00:14:17.180]endowments, the greatest
[00:14:17.180]opportunity for human capital.
[00:14:17.200]Okay, next.
[00:14:17.220]So the authors concluded that,
[00:14:17.220]again, this big look over 20
[00:14:17.220]years of, um, and towns
[00:14:17.220]attracting the most entrants
[00:14:17.220]were those with the greatest
[00:14:17.220]endowments, the greatest
[00:14:17.220]opportunity for human capital.
[00:14:17.240]Okay, next.
[00:14:17.260]So the authors concluded that,
[00:14:17.260]again, this big look over 20
[00:14:17.260]years of, um, and towns
[00:14:17.260]attracting the most entrants
[00:14:17.260]were those with the greatest
[00:14:17.260]endowments, the greatest
[00:14:17.260]opportunity for human capital.
[00:14:17.300]Okay, next.
[00:14:46.880]So the authors concluded that,
[00:14:51.410]again, this big look over 20
[00:14:56.100]years of, um, and towns
[00:15:00.070]attracting the most entrants
[00:15:03.800]were those with the greatest
[00:15:07.830]endowments, the greatest
[00:15:11.680]opportunity for human capital.
[00:15:16.860]Okay, next.
[00:15:17.200]So the authors concluded that,
[00:15:21.700]again, this big look over 20
[00:15:26.370]years of, um, and towns
[00:15:29.850]attracting the most entrants
[00:15:34.270]were those with the greatest
[00:15:38.020]endowments, the greatest
[00:15:41.840]opportunity for human capital.
[00:15:46.840]Okay, next.
[00:16:16.820]So the authors concluded that,
[00:16:21.910]again, this big look over 20
[00:16:26.070]years of, um, and towns
[00:16:29.540]attracting the most entrants
[00:16:33.740]were those with the greatest
[00:16:37.770]endowments, the greatest
[00:16:42.060]opportunity for human capital.
[00:16:46.800]Okay, next.
[00:17:16.760]So the authors concluded that,
[00:17:16.760]again, this big look over 20
[00:17:16.760]years of, um, and towns
[00:17:16.760]attracting the most entrants
[00:17:16.760]were those with the greatest
[00:17:16.760]endowments, the greatest
[00:17:16.760]opportunity for human capital.
[00:17:16.780]So the authors concluded that,
[00:17:21.690]again, this big look over 20
[00:17:26.000]years of, um, and towns
[00:17:29.500]attracting the most entrants
[00:17:33.700]were those with the greatest
[00:17:37.910]endowments, the greatest
[00:17:41.580]opportunity for human capital.
[00:17:46.760]So the authors concluded that,
[00:17:51.290]again, this big look over 20
[00:17:55.980]years of, um, and towns
[00:17:59.480]attracting the most entrants
[00:18:03.680]were those with the greatest
[00:18:07.710]endowments, the greatest
[00:18:11.560]opportunity for human capital.
[00:18:16.740]So the authors concluded that,
[00:18:22.070]again, this big look over 20
[00:18:25.960]years of, um, and towns
[00:18:29.460]attracting the most entrants
[00:18:33.700]were those with the greatest
[00:18:37.690]endowments, the greatest
[00:18:41.540]opportunity for human capital.
[00:18:46.720]So the authors concluded that,
[00:18:46.720]again, this big look over 20
[00:18:46.720]years of, um, and towns
[00:18:46.720]attracting the most entrants
[00:18:46.720]were those with the greatest
[00:18:46.720]endowments, the greatest
[00:18:46.720]opportunity for human capital.
[00:18:46.800]So the authors concluded that,
[00:18:51.630]again, this big look over 20
[00:18:56.120]years of, um, and towns
[00:18:59.510]attracting the most entrants
[00:19:03.730]were those with the greatest
[00:19:07.730]endowments, the greatest
[00:19:11.670]opportunity for human capital.
[00:19:16.700]So the authors concluded that,
[00:19:21.220]again, this big look over 20
[00:19:25.910]years of, um, and towns
[00:19:29.710]attracting the most entrants
[00:19:34.040]were those with the greatest
[00:19:37.650]endowments, the greatest
[00:19:41.520]opportunity for human capital.
[00:19:46.680]So the authors concluded that,
[00:19:51.210]again, this big look over 20
[00:19:55.900]years of, um, and towns
[00:19:59.400]attracting the most entrants
[00:20:03.600]were those with the greatest
[00:20:07.630]endowments, the greatest
[00:20:11.480]opportunity for human capital.
[00:20:16.660]So the authors concluded that,
[00:20:21.190]again, this big look over 20
[00:20:25.880]years of, um, and towns
[00:20:29.380]attracting the most entrants
[00:20:33.990]were those with the greatest
[00:20:37.810]endowments, the greatest
[00:20:41.460]opportunity for human capital.
[00:20:46.640]So the authors concluded that,
[00:20:51.170]again, this big look over 20
[00:20:55.860]years of, um, and towns
[00:20:59.360]attracting the most entrants
[00:21:03.550]were those with the greatest
[00:21:07.590]endowments, the greatest
[00:21:11.440]opportunity for human capital.
[00:21:16.620]So the authors concluded that,
[00:21:21.150]again, this big look over 20
[00:21:25.830]years of, um, and towns
[00:21:29.380]attracting the most entrants
[00:21:34.210]were those with the greatest
[00:21:37.910]endowments, the greatest
[00:21:41.420]opportunity for human capital.
[00:21:46.600]So the authors concluded that,
[00:21:51.130]again, this big look over 20
[00:21:55.820]years of, um, and towns
[00:21:59.320]attracting the most entrants
[00:22:03.720]were those with the greatest
[00:22:07.550]endowments, the greatest
[00:22:11.470]opportunity for human capital.
[00:22:16.580]So the authors concluded that,
[00:22:21.100]again, this big look over 20
[00:22:25.800]years of, um, and towns
[00:22:29.300]attracting the most entrants
[00:22:33.960]were those with the greatest
[00:22:37.550]endowments, the greatest
[00:22:41.390]opportunity for human capital.
[00:22:46.560]So the authors concluded that,
[00:22:51.090]again, this big look over 20
[00:22:55.780]years of, um, and towns
[00:22:59.280]attracting the most entrants
[00:23:03.680]were those with the greatest
[00:23:07.570]endowments, the greatest
[00:23:12.150]opportunity for human capital.
[00:23:16.480]So the authors concluded that,
[00:23:16.480]again, this big look over 20
[00:23:16.480]years of, um, and towns
[00:23:16.480]attracting the most entrants
[00:23:16.480]were those with the greatest
[00:23:16.480]endowments, the greatest
[00:23:16.480]opportunity for human capital.
[00:23:16.520]So the authors concluded that,
[00:23:16.520]again, this big look over 20
[00:23:16.520]years of, um, and towns
[00:23:16.520]attracting the most entrants
[00:23:16.520]were those with the greatest
[00:23:16.520]endowments, the greatest
[00:23:16.520]opportunity for human capital.
[00:23:16.540]So the authors concluded that,
[00:23:21.480]again, this big look over 20
[00:23:25.820]years of, um, and towns
[00:23:29.980]attracting the most entrants
[00:23:33.460]were those with the greatest
[00:23:37.770]endowments, the greatest
[00:23:41.340]opportunity for human capital.
[00:23:46.520]So the authors concluded that,
[00:23:51.050]again, this big look over 20
[00:23:56.130]years of, um, and towns
[00:23:59.240]attracting the most entrants
[00:24:03.440]were those with the greatest
[00:24:07.630]endowments, the greatest
[00:24:11.390]opportunity for human capital.
[00:24:16.500]So the authors concluded that,
[00:24:21.030]again, this big look over 20
[00:24:25.720]years of, um, and towns
[00:24:29.220]attracting the most entrants
[00:24:33.650]were those with the greatest
[00:24:37.430]endowments, the greatest
[00:24:41.560]opportunity for human capital.
[00:24:46.480]So the authors concluded that,
[00:24:51.010]again, this big look over 20
[00:24:55.690]years of, um, and towns
[00:24:59.200]attracting the most entrants
[00:25:03.620]were those with the greatest
[00:25:07.420]endowments, the greatest
[00:25:11.410]opportunity for human capital.
[00:25:16.460]So the authors concluded that,
[00:25:21.070]again, this big look over 20
[00:25:25.680]years of, um, and towns
[00:25:29.930]attracting the most entrants
[00:25:33.860]were those with the greatest
[00:25:37.410]endowments, the greatest
[00:25:41.260]opportunity for human capital.
[00:25:46.440]So the authors concluded that,
[00:25:51.080]again, this big look over 20
[00:25:55.660]years of, um, and towns
[00:25:59.400]attracting the most entrants
[00:26:03.360]were those with the greatest
[00:26:07.390]endowments, the greatest
[00:26:11.270]opportunity for human capital.
[00:26:16.420]So the authors concluded that,
[00:26:20.950]again, this big look over 20
[00:26:25.640]years of, um, and towns
[00:26:29.140]attracting the most entrants
[00:26:33.330]were those with the greatest
[00:26:37.370]endowments, the greatest
[00:26:41.210]opportunity for human capital.
[00:26:46.400]So the authors concluded that,
[00:26:50.940]again, this big look over 20
[00:26:55.620]years of, um, and towns
[00:26:59.120]attracting the most entrants
[00:27:03.320]were those with the greatest
[00:27:07.390]endowments, the greatest
[00:27:11.200]opportunity for human capital.
[00:27:16.380]So the authors concluded that,
[00:27:20.990]again, this big look over 20
[00:27:25.600]years of, um, and towns
[00:27:29.100]attracting the most entrants
[00:27:33.300]were those with the greatest
[00:27:37.330]endowments, the greatest
[00:27:41.180]opportunity for human capital.
[00:27:46.360]So the authors concluded that,
[00:27:50.000]again, this big look over 20
[00:27:53.780]years of, um, and towns
[00:27:56.600]attracting the most entrants
[00:27:59.970]were those with the greatest
[00:28:03.200]endowments, the greatest
[00:28:06.290]opportunity for human capital.
[00:28:10.420]So the authors concluded that,
[00:28:10.480]again, this big look over 20
[00:28:10.530]years of, um, and towns
[00:28:10.570]attracting the most entrants
[00:28:10.590]were those with the greatest
[00:28:10.650]endowments, the greatest
[00:28:10.710]opportunity for human capital.
[00:28:11.000]So the authors concluded that,
[00:28:11.000]again, this big look over 20
[00:28:11.000]years of, um, and towns
[00:28:11.000]attracting the most entrants
[00:28:11.000]were those with the greatest
[00:28:11.000]endowments, the greatest
[00:28:11.000]opportunity for human capital.
[00:28:11.020]So the authors concluded that,
[00:28:11.030]again, this big look over 20
[00:28:11.030]years of, um, and towns
[00:28:11.040]attracting the most entrants
[00:28:11.040]were those with the greatest
[00:28:11.040]endowments, the greatest
[00:28:11.050]opportunity for human capital.
[00:28:11.220]So the authors concluded that,
[00:28:11.220]again, this big look over 20
[00:28:11.220]years of, um, and towns
[00:28:11.220]attracting the most entrants
[00:28:11.220]were those with the greatest
[00:28:11.220]endowments, the greatest
[00:28:11.220]opportunity for human capital.
[00:28:11.280]So the authors concluded that,
[00:28:15.830]again, this big look over 20
[00:28:20.460]years of, um, and towns
[00:28:24.000]attracting the most entrants
[00:28:28.190]were those with the greatest
[00:28:32.290]endowments, the greatest
[00:28:36.080]opportunity for human capital.
[00:28:41.260]So the authors concluded that,
[00:28:45.880]again, this big look over 20
[00:28:50.480]years of, um, and towns
[00:28:53.980]attracting the most entrants
[00:28:58.180]were those with the greatest
[00:29:02.310]endowments, the greatest
[00:29:06.060]opportunity for human capital.
[00:29:11.240]So the authors concluded that,
[00:29:15.830]again, this big look over 20
[00:29:20.490]years of, um, and towns
[00:29:24.040]attracting the most entrants
[00:29:28.190]were those with the greatest
[00:29:32.180]endowments, the greatest
[00:29:36.040]opportunity for human capital.
[00:29:41.220]So the authors concluded that,
[00:29:45.750]again, this big look over 20
[00:29:50.440]years of, um, and towns
[00:29:53.940]attracting the most entrants
[00:29:58.230]were those with the greatest
[00:30:02.250]endowments, the greatest
[00:30:06.020]opportunity for human capital.
[00:30:11.200]So this big look over 20 years
[00:30:16.960]of, um, and towns attracting
[00:30:22.400]the most entrants were those
[00:30:27.580]with the greatest endowments,
[00:30:33.110]the greatest opportunity for
[00:30:37.970]human capital.
[00:30:41.180]So this big look over 20 years
[00:30:46.940]of, um, and towns attracting
[00:30:52.280]the most entrants were those
[00:30:57.300]with the greatest endowments,
[00:31:03.180]the greatest opportunity for
[00:31:07.940]human capital.
[00:31:11.160]So this big look over 20 years
[00:31:16.930]of, um, and towns attracting
[00:31:22.270]the most entrants were those
[00:31:27.200]with the greatest endowments,
[00:31:32.760]the greatest opportunity for
[00:31:37.920]human capital.
[00:31:41.140]So this big look over 20 years
[00:31:41.140]of, um, and towns attracting
[00:31:41.140]the most entrants were those
[00:31:41.140]with the greatest endowments,
[00:31:41.140]the greatest opportunity for
[00:31:41.140]human capital.
[00:31:41.180]So this big look over 20 years
[00:31:41.180]of, um, and towns attracting
[00:31:41.180]the most entrants were those
[00:31:41.180]with the greatest endowments,
[00:31:41.180]the greatest opportunity for
[00:31:41.180]human capital.
[00:31:41.220]So this big look over 20 years
[00:31:46.960]of, um, and towns attracting
[00:31:52.300]the most entrants were those
[00:31:57.220]with the greatest endowments,
[00:32:03.040]the greatest opportunity for
[00:32:07.860]human capital.
[00:32:11.120]So this big look over 20 years
[00:32:17.090]of, um, and towns attracting
[00:32:22.350]the most entrants were those
[00:32:27.170]with the greatest endowments,
[00:32:32.750]the greatest opportunity for
[00:32:38.020]human capital.
[00:32:41.100]So this big look over 20 years
[00:32:46.860]of, um, and towns attracting
[00:32:52.240]the most entrants were those
[00:32:57.130]with the greatest endowments,
[00:33:02.700]the greatest opportunity for
[00:33:07.850]human capital.
[00:33:11.080]So this big look over 20 years
[00:33:17.000]of, um, and towns attracting
[00:33:22.190]the most entrants were those
[00:33:27.120]with the greatest endowments,
[00:33:32.680]the greatest opportunity for
[00:33:37.960]human capital.
[00:33:41.060]So this big look over 20 years
[00:33:46.820]of, um, and towns attracting
[00:33:52.170]the most entrants were those
[00:33:57.100]with the greatest endowments,
[00:34:02.660]the greatest opportunity for
[00:34:07.840]human capital.
[00:34:11.040]So this big look over 20 years
[00:34:16.930]of, um, and towns attracting
[00:34:22.150]the most entrants were those
[00:34:27.080]with the greatest endowments,
[00:34:32.640]the greatest opportunity for
[00:34:37.890]human capital.
[00:34:41.020]So this big look over 20 years
[00:34:46.780]of, um, and towns attracting
[00:34:52.270]the most entrants were those
[00:34:57.060]with the greatest endowments,
[00:35:02.620]the greatest opportunity for
[00:35:07.780]human capital.
[00:35:11.000]So this big look over 20 years
[00:35:16.730]of, um, and towns attracting
[00:35:22.020]the most entrants were those
[00:35:26.920]with the greatest endowments,
[00:35:32.410]the greatest opportunity for
[00:35:37.510]human capital.
[00:35:40.740]So this big look over 20 years
[00:35:40.740]of, um, and towns attracting
[00:35:40.740]the most entrants were those
[00:35:40.740]with the greatest endowments,
[00:35:40.740]the greatest opportunity for
[00:35:40.750]human capital.
[00:35:40.880]So this big look over 20 years
[00:35:40.880]of, um, and towns attracting
[00:35:40.880]the most entrants were those
[00:35:40.880]with the greatest endowments,
[00:35:40.880]the greatest opportunity for
[00:35:40.880]human capital.
[00:35:40.980]So this big look over 20 years
[00:35:46.740]of, um, and towns attracting
[00:35:52.080]the most entrants were those
[00:35:57.020]with the greatest endowments,
[00:36:02.580]the greatest opportunity for
[00:36:07.760]human capital.
[00:36:10.960]So this big look over 20 years
[00:36:16.740]of, um, and towns attracting
[00:36:22.220]the most entrants were those
[00:36:27.000]with the greatest endowments,
[00:36:32.560]the greatest opportunity for
[00:36:37.920]human capital.
[00:36:40.940]So this big look over 20 years
[00:36:46.700]of, um, and towns attracting
[00:36:52.050]the most entrants were those
[00:36:56.980]with the greatest endowments,
[00:37:02.540]the greatest opportunity for
[00:37:07.720]human capital.
[00:37:10.920]So this big look over 20 years
[00:37:16.680]of, um, and towns attracting
[00:37:22.130]the most entrants were those
[00:37:27.520]with the greatest endowments,
[00:37:32.510]the greatest opportunity for
[00:37:37.670]human capital.
[00:37:40.900]So this big look over 20 years
[00:37:46.680]of, um, and towns attracting
[00:37:52.010]the most entrants were those
[00:37:56.940]with the greatest endowments,
[00:38:02.500]the greatest opportunity for
[00:38:07.660]human capital.
[00:38:10.880]So this big look over 20 years
[00:38:16.640]of, um, and towns attracting
[00:38:21.990]the most entrants were those
[00:38:26.920]with the greatest endowments,
[00:38:32.480]the greatest opportunity for
[00:38:37.400]human capital.
[00:38:40.860]So this big look over 20 years
[00:38:46.620]of, um, and towns attracting
[00:38:52.520]the most entrants were those
[00:38:56.840]with the greatest endowments,
[00:39:02.750]the greatest opportunity for
[00:39:07.620]human capital.
[00:39:10.840]So this big look over 20 years
[00:39:16.600]of, um, and towns attracting
[00:39:21.950]the most entrants were those
[00:39:27.260]with the greatest endowments,
[00:39:32.440]the greatest opportunity for
[00:39:37.600]human capital.
[00:39:40.820]So this big look over 20 years
[00:39:46.580]of, um, and towns attracting
[00:39:52.040]the most entrants were those
[00:39:56.860]with the greatest endowments,
[00:40:02.420]the greatest opportunity for
[00:40:07.580]human capital.
[00:40:10.800]So this big look over 20 years
[00:40:16.690]of, um, and towns attracting
[00:40:21.910]the most entrants were those
[00:40:26.740]with the greatest endowments,
[00:40:32.400]the greatest opportunity for
[00:40:37.560]human capital.
[00:40:40.780]So this big look over 20 years
[00:40:46.540]of, um, and towns attracting
[00:40:51.920]the most entrants were those
[00:40:56.810]with the greatest endowments,
[00:41:02.380]the greatest opportunity for
[00:41:07.660]human capital.
[00:41:10.760]So this big look over 20 years
[00:41:16.520]of, um, and towns attracting
[00:41:21.870]the most entrants were those
[00:41:27.080]with the greatest endowments,
[00:41:32.360]the greatest opportunity for
[00:41:37.510]human capital.
[00:41:40.740]So this big look over 20 years
[00:41:46.500]of, um, and towns attracting
[00:41:51.850]the most entrants were those
[00:41:56.780]with the greatest endowments,
[00:42:02.340]the greatest opportunity for
[00:42:07.500]human capital.
[00:42:10.720]So this big look over 20 years
[00:42:16.480]of, um, and towns attracting
[00:42:21.830]the most entrants were those
[00:42:26.930]with the greatest endowments,
[00:42:32.320]the greatest opportunity for
[00:42:37.510]human capital.
[00:42:40.700]So this big look over 20 years
[00:42:46.430]of, um, and towns attracting
[00:42:51.810]the most entrants were those
[00:42:56.730]with the greatest endowments,
[00:43:02.290]the greatest opportunity for
[00:43:07.460]human capital.
[00:43:10.680]So this big look over 20 years
[00:43:16.450]of, um, and towns attracting
[00:43:21.980]the most entrants were those
[00:43:26.720]with the greatest endowments,
[00:43:32.310]the greatest opportunity for
[00:43:37.440]human capital.
[00:43:40.660]So this big look over 20 years
[00:43:46.450]of, um, and towns attracting
[00:43:52.170]the most entrants were those
[00:43:57.280]with the greatest endowments,
[00:44:02.380]the greatest opportunity for
[00:44:07.510]human capital.
[00:44:10.640]So this big look over 20 years
[00:44:11.390]of, um, and towns attracting
[00:44:12.070]the most entrants were those
[00:44:12.720]with the greatest endowments,
[00:44:13.440]the greatest opportunity for
[00:44:14.120]human capital.
[00:44:14.640]So this big look over 20 years
[00:44:15.760]of, um, and towns attracting
[00:44:16.840]the most entrants were those
[00:44:17.770]with the greatest endowments,
[00:44:18.860]the greatest opportunity for
[00:44:19.930]human capital.
[00:44:20.640]So this big look over 20 years
[00:44:20.990]of, um, and towns attracting
[00:44:21.300]the most entrants were those
[00:44:21.590]with the greatest endowments,
[00:44:21.940]the greatest opportunity for
[00:44:22.280]human capital.
[00:44:22.640]So this big look over 20 years
[00:44:22.990]of, um, and towns attracting
[00:44:23.290]the most entrants were those
[00:44:23.600]with the greatest endowments,
[00:44:23.940]the greatest opportunity for
[00:44:24.280]human capital.
[00:44:24.640]So this big look over 20 years
[00:44:24.990]of, um, and towns attracting
[00:44:25.300]the most entrants were those
[00:44:25.600]with the greatest endowments,
[00:44:25.940]the greatest opportunity for
[00:44:26.280]human capital.
[00:44:26.640]So this big look over 20 years
[00:44:26.990]of, um, and towns attracting
[00:44:27.300]the most entrants were those
[00:44:27.600]with the greatest endowments,
[00:44:27.940]the greatest opportunity for
[00:44:28.280]human capital.
[00:44:28.640]So this big look over 20 years
[00:44:29.000]of, um, and towns attracting
[00:44:29.340]the most entrants were those
[00:44:29.600]with the greatest endowments,
[00:44:29.980]the greatest opportunity for
[00:44:30.340]human capital.
[00:44:30.640]So this big look over 20 years
[00:44:30.990]of, um, and towns attracting
[00:44:31.330]the most entrants were those
[00:44:31.650]with the greatest endowments,
[00:44:31.940]the greatest opportunity for
[00:44:32.280]human capital.
[00:44:32.640]So this big look over 20 years
[00:44:33.840]of, um, and towns attracting
[00:44:34.610]the most entrants were those
[00:44:35.770]with the greatest endowments,
[00:44:36.860]the greatest opportunity for
[00:44:37.880]human capital.
[00:44:38.640]So this big look over 20 years
[00:44:38.990]of, um, and towns attracting
[00:44:39.300]the most entrants were those
[00:44:39.600]with the greatest endowments,
[00:44:39.980]the greatest opportunity for
[00:44:40.280]human capital.
[00:44:40.640]So this big look over 20 years
[00:44:40.990]of, um, and towns attracting
[00:44:41.300]the most entrants were those
[00:44:41.600]with the greatest endowments,
[00:44:41.940]the greatest opportunity for
[00:44:42.280]human capital.
[00:44:42.640]So this big look over 20 years
[00:44:42.990]of, um, and towns attracting
[00:44:43.300]the most entrants were those
[00:44:43.600]with the greatest endowments,
[00:44:43.940]the greatest opportunity for
[00:44:44.320]human capital.
[00:44:44.640]so everybody can have access to
[00:44:46.930]the presentation uh mike or um
[00:44:49.090]chelsea is there anything i'm
[00:44:51.440]forgetting logistics of the
[00:44:52.710]rural raw new meeting the
[00:44:53.820]questions just that we'll meet
[00:44:57.530]again in two
[00:44:59.460]weeks i can't remember jenny i
[00:45:01.410]think had something lined up
[00:45:03.540]for that one as well and i can't
[00:45:05.440]remember
[00:45:06.020]what the topic was because we
[00:45:08.040]were talking about a month out
[00:45:10.140]on another topic chelsea i
[00:45:11.980]think didn't
[00:45:12.720]last time i think i mentioned
[00:45:14.930]about maybe an update on the
[00:45:16.650]child um early childhood
[00:45:18.420]development
[00:45:19.420]and stuff that some things we've
[00:45:21.240]been doing here but that was
[00:45:22.790]going to be like still a month
[00:45:24.400]out
[00:45:24.720]wasn't it chelsea yeah i was
[00:45:26.560]just going back in my notes to
[00:45:28.480]see if i happened to write it
[00:45:30.320]down
[00:45:30.660]um but yeah i thought you were
[00:45:32.610]maybe the second meeting in
[00:45:34.450]march mike
[00:45:35.300]and we still have our thursday
[00:45:40.160]thursdays
[00:45:41.960]when we're in the middle of the
[00:45:42.700]month and we're in the middle
[00:45:42.700]of the month and we're in the
[00:45:42.700]middle
[00:45:42.700]of the month and we're in the
[00:45:42.700]middle of the month and we're
[00:45:42.830]in the middle of the month and
[00:45:43.200]we can
[00:45:43.220]it's been sparkly populated at
[00:45:45.440]times but the the off weeks um
[00:45:49.580]the off weeks we do a 5 30
[00:45:53.690]central
[00:45:54.320]4 30 mountain time thirsty thursday
[00:45:56.770]social gathering for anybody
[00:45:58.480]that that might want to
[00:45:59.840]join us chelsea usually sends
[00:46:01.640]out a reminder on that and it's
[00:46:03.440]just kind of a kick back and
[00:46:05.140]swap some

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Which Small Towns Attract Startups?

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