The Creative Class

The creative class is a social group or class that economist and social scientist Dr. Richard Florida has studied and named as the driving force for economic development of post-industrial cities in the United States and globally.

The creative class, as defined by Florida, has been on the rise for at least the last four decades. In that time, there has been a distinct shift towards technology, research and development, and the internet building within the postwar economies of many countries.

The creative class is composed of the truly creative professions (architects, engineers, etc.) and then the knowledge-based creative professions like the health and legal professions. These two broad groups are joined by the Bohemian/artist group. In cities with high creative class presence, one typically expects to find a level of tolerance and respect for individuals.

While this may seem broad, Austin has been named by Dr. Richard Florida as one of the leading creative class cities. This means that Austin is in a prime position to grow and lead a new type of economy in the 21st century. The new economy is based on technology, talent (meaning education), and tolerance.

With the presence of the University of Texas providing knowledge, the large number of technology or internet-based companies, and its tolerance and diverse population, Austin has all three Ts in place. Other largely creative cities include Silicon Valley, Boston, Seattle, Dublin, Ireland, Sweden as a country, and Milwaukee, Wisconsin. All of these cities have also been identified as a city that may be able to capitalize on the creative class and move forward.

Not all cities that attempt to go with a creative economy succeed. Some cities that have failed, to a degree, include Buffalo, New Orleans, and Louisville.

Contact an Austin Realtor

For more information on the economic growth and stability of Austin, contact the Austin realtors of The Carvajal Group at 512-419-7770.