Enabling suburban growth through university partnerships
By Homz | October 6, 2022
Education is a lifelong asset that shapes us and outlines our career paths. Personal as it may appear, there are also far-reaching benefits associated with it. Some cater to the city’s development. Beyond chalks and classrooms, education is also about ‘an enlightening experience’ – an experience that is not bound to the boundaries of the institution and is an enabler for upliftment.
Educational facilities present a compelling opportunity for the city’s infrastructure and economic status quo to improve and bring to its dwellers, an elevated lifestyle. This holds true and has a deeper meaning for the suburban counties of the U.S. Developing educational institutions and fostering the abilities of people has a positive spill-over (or ripple) effect on the suburbs’ ability to be at par with their urban counterparts. They can imitate and adopt new technologies to evolve and not lag behind.
Educational centres for communities
Let’s focus on universities. They are powerful and can be considered landmarks in several cities. Having a well-established university campus puts the town on the map, attracting young talent towards it. But the ripple effect doesn’t stop here. These universities influence the behaviour of businesses.
Universities create a ripple effect through privatization. Since more people seek residence in the city, this by default creates newer demand – it could be for new cafes, restaurants, malls, theatres, and other entertainment hubs. This boosts employment, and economic, and social growth. The surrounding infrastructure also witnesses an upgrade – the newer establishments bring with them buildings with a modern, appealing facade. In short, to meet the lifestyle expectations of the students and their families, cities open gates to more businesses, which in turn means more growth and development for cities. And it goes without saying that this ripple effect also benefits the existing city dwellers.
Students also demonstrate significant gains in academic achievement when higher education is made available to them in an advanced facility compromising on the latest tech.
How will Homz help?
After identifying the ripple effect universities have on cities, and young talent, building communities inclusive of quality higher education centres made perfect sense. Universities create an ideal framework for cities to grow. And the compounding growth opportunities it brings to the communities will further help fuel our agenda of building a better living world.
Learn more about How Homz creates Economic Ripple effects in US Suburbs
For these reasons, we at Homz, have partnered with universities to create entrepreneurial incubation centres. These centres will change the economical landscape of the cities by training students to become the innovators of tomorrow, creating more employment opportunities, opening gates to newer businesses, attracting more private companies, and lifting the cities to new heights.