The way cities generate jobs through entrepreneurship is changing with the popularity of freelancers and startups. Those who are self-employed don't need the government to construct elaborate city-sponsored office parks or provide commercial floor real estate spaces. They just need a coffee shop, or a home, or even more so, co-working spaces, where dozens of businesses occupy the same floor.
Cities are eager to attract this next generation worker. The city of Miami, for instance, partnered with coworking giant, WeWork, to offer temporary discounts to local entrepreneurs.
But, is it actually worth it for governments to support co-working spaces? How much are the kinds of businesses that use coworking spaces worth?
WeWork attempted to estimate its value to cities with a new economic impact report, based on over 10,000 member survey responses and an econometric model of the tax and labor market benefits of its members’ industries.
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