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Continued: Report: Twin Cities is an emerging tech hot spot, but still lags

  • Article by: JANET MOORE , Star Tribune
  • Last update: August 28, 2013 - 4:13 PM

Questions raised

But CoCo co-founders Kyle Coolbroth and Don Ball question some of the benchmarks used in the Jones Lang LaSalle report.

The metro area’s fortunes don’t necessarily hinge on a handful of large companies, they said in an e-mail statement.

“When was the last time we succeeded in attracting a large corporate headquarters to Minnesota?” they ask, noting that nearly all of the state’s Fortune 500 companies are homegrown.

“Instead of attracting one 10,000-person company, we need to diversify and launch 10,000 one-person companies,” they said.

The CoCo founders also say venture capital shouldn’t be used as an indicator of economic well-being.

Instead, a “creator index” should be employed, where “creators represent a whole new crop of businesses — many of which will never select a single location as their office.”

New workplaces must embrace a more fluid model “that does not always translate into traditional lease or funding models,” they said.

“Talent is gathering in centers that have culture, food, a social scene and other talent they can access. This reality affects companies both large and small.”

Janet Moore • 612-673-7752

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