Here’s yet further research that college towns are key centers for economic development, in the following AP article: College towns make the grade with entrepreneurs.
The standard reasons why college towns are attractive to entrepreneurs:
– A lower cost of living/working in small college towns than in big cities
– Educated young workers without salary demands, sometimes enough to compete with outsourcing (ie home-shoring)
– High quality of life, fueled by vibrant nightlife, recreation and a progressive mindset
– Recessions aren’t as severe because students already pretty much have a minimal fixed income
…and one that hasn’t been mentioned previously on this website:
Young, open-minded, tech-centric consumers – these natural ‘early adopters’ are an ideal (almost necessary) target market for a new company introducing an innovative product or service.
Some of the ‘hot’ college towns listed in the article:
Madison, WI – University of Wisconsin;
Missoula and Bozeman, MT – University of Montana and Montana State University;
Fayetteville, AR – University of Arkansas;
Fort Collins, CO – Colorado State University