Place and Prosperity

What makes a city prosperous? Is it a bustling economy, high employment rates, or simply a lot of new construction? We answer these questions by speaking with with Bill Fulton on his book Place and Prosperity. The book highlights a key idea: a community's economic well-being is deeply and directly tied to its physical and social character.

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This concept, explored in detail in the urban planning world, argues that enduring prosperity isn't just about attracting businesses—it's about creating and maintaining a high "quality of place." This refers to the things that make a community special and appealing, like a strong sense of community and civic engagement, a well-preserved built environment, accessible cultural and recreational amenities, and beautiful natural surroundings and green spaces.

When urban planners and community leaders focus on these aspects, they create an attractive environment for residents and businesses alike. People want to live in places they love, and companies are drawn to areas with a talented workforce and a great quality of life. The result is a cycle of sustained economic growth.

The episode likely discusses how this focus on place is a more resilient long-term strategy than simply chasing large corporations, a practice sometimes referred to as "romancing the smokestack." Businesses come and go, but the permanent assets of a city—its parks, its neighborhoods, its cultural fabric—are what provide the foundation for future success.

Ultimately, the idea of place and prosperity challenges us to think about urban planning not as a sterile, technical process, but as a creative act of building communities that are not only economically viable but also vibrant, equitable, and enjoyable for everyone.