Albuquerque Journal (Albuquerque, NM)

Net Hasn't Leveled Town, Country.(Business)

Byline: Aaron Baca Journal Staff Writer

Milken Report Finds Urban Rejuvenation

Big industrial cities from Los Angeles to New York are still the hip places to live and work despite technology that makes rural America a viable alternative for New Economy businesses.

A new Milken Institute study being released today found, however, that a revitalization is occurring in America's biggest cites. Second-tier cities such as Albuquerque are, at the least, sharing in the new life.

Written by Ross DeVol and Joel Kotkin of the Milken Institute, the study is different from previous Milken studies in that it contains no rankings or lists.

Instead the study uses as its beginning a well-regarded premise that New Economy high rents and costs of living in America's big cities would eventually drive out fledgling technology businesses. …

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