Tài liệu Historical Development and Changing Technology pptx

CU MIT Center for Real Estate Week 4: Firm Site Selection and Industrial land Use.. CU MIT Center for Real Estate Firm — Household Linkages ¢ Firms sell products to workers - the frict

CU) MIT Center for Real Estate

Week 4: Firm Site Selection and

Industrial land Use

¢ Households as a factor of production versus

as a client

¢ Historic cities — commerce and industry at the Center

¢ Changes in Technology and Transportation

¢ Modern Industrial location.

CU) MIT Center for Real Estate

Firm — Household Linkages

¢ Firms sell products to workers - the friction

is “shopping” or client visit transportation

costs: Retail stores, “retail” services

[insurance dealers, barber shops, retail

brokerage offices |

¢ Firms sell products nationally and employ workers as a factor of production — the

friction is the commuting of workers

CU) MIT Center for Real Estate

Sources of Spatial data on Firms

and employment

¢ Firms (IRS, SEC) versus Establishments (BLS, Census) SIC codes

¢ Federal Establishment files (8 million)

¢ State surveys (monthly, quarterly, annual)

¢ Recent release of detailed data by Zip code — “a

revolution”

[http://www.census.gov/epcd/www/zipstats.html |

E

^

Dallas CMSA

UE, 1991)

in

RS

DALLAS/FORT WORTH METROPLEX, YEAR 1987

TOTAL EMPLOYMENT PER SQUARE MIL

_ (see: Shukla and Waddell,

MMMM 4000 of More 538-1500 Ea 1580-4000

Z⁄⁄⁄⁄⁄⁄

180-3380

>>

cS Under 180 ruton Center for Development Studies Legenc:

University of Texas at Doilos

E) MIT Center for Real Estate

Fig 1 (a)

CU) MIT Center for Real Estate

Employment decentralization in

Boston

Boston, City Boston, Suburbs

Em ployment Category 1970 1980 1990 2000 1970 1980 1990 2000 Private Non-Agricultural 496,548 492,095 539720 613385 1,046,936 1.334948 1646663 1,888,350

Construction 23,159 12,589 14967 20,803 64156 59336 87,537 112,173 Manufacturing 68,078 55830 34603 2071 316,318 = 367,345 33863 247866 Transportation and public utilities 45458 39890 38187 40911 45581 55618 64333 75,222 Wholesale trade 45170 31,622 21,706 19106 56,164 8394 11107 116/9 Retail trade 619) 6354) 67M7 722i 24694 3/79 312329 33183 Finance, insurance, and real estate 76,743 76,991 934 108413 60,812 97,491 130,903 157,846 Serices 150,445 209,624 267,949 321,854 288,529 406,218 637,269 845,450

E MIT Center for Real Estate

Monocentric City: Central Business District

EL MIT Center for Real Estate

1) Profit/unit output (70)

7 = [S — AC - sd| - r(d)/Q

3 — sale prIce/unIf

AC = average cost (inc capital)

s = shipping cost to port

d = distance to port

r(d)= firm rent per acre

Q = units of output per acre

In equilibrium profits must be fixed across

locations

EL MIT Center for Real Estate

2) Equal profit rent function

r{d)=[S —-AC—sd- 7] *Q 3) Slope of firm rent function:

dr, dd = -s*Q 4) Historic changes in s, Q

- From carts to water to rail to truck

- from 6 story lofts to single story Sheds

5) A “Flat” Industrial Rent Gradient?

[Lockwood and Rutherford]

E MIT Center for Real Estate

With a “flat” rent gradient:

Industries move to the edge

Services

a

Residents

/

CBD

CU) MIT Center for Real Estate

Modern Industrial Location

Why do industries locate:

- Next to Highways

- Next to Airports or seaports

- On land that is recycled, wet, or marginal But also:

- In areas already developed

- Near to population 2

[Shukla-Waddell, Struyk-James]

E MIT Center for Real Estate

If residential rents look like this — then where do

industrial properties locate?

Land Rent

Negative Value of

Proximity

Distance from Highway