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STUDY REVEALS WHY CITIES FAIL TO ATTRACT NEW JOBS PLUS ASSETS ESSENTIAL TO KEEP THEM

 STUDY REVEALS WHY CITIES FAIL TO ATTRACT NEW JOBS
 PLUS ASSETS ESSENTIAL TO KEEP THEM
 CHICAGO, Ill., Oct. 5 /PRNewswire/ -- Sub-standard education, transportation and housing, combined with crime, budget deficits and dirty streets are among the key factors that are turning businesses away from locating in a particular city.
 These are the elements that are preventing the growth of many American cities and the creation of jobs according to information compiled by PHH Fantus, Chicago-based business management consulting firm.
 "While these reasons may be obvious, they are still often unrecognized or not addressed by cities trying to attract new employers," said Robert M. Ady, president of PHH Fantus.
 Ady said that more than 500 business location and economic development projects completed by his firm in the last five years revealed that the ten most important assets a city must have to retain and attract business are, in order of priority:
 -- An educational system that produces a qualified workforce to meet employers' current and future needs.
 -- A transportation network that efficiently handles commuters and products.
 -- Adequate land properly zoned for business.
 -- Water and sewer systems with enough capacity to handle additional businesses.
 -- An obviously close relationship with existing businesses.
 -- No budgetary shortfalls, especially if they persist year after year.
 -- Affordable yet quality housing stock.
 -- Controlled signage, clean streets and attended landscape.
 -- A satisfactory track record in handling crime and drugs.
 -- A professional and focused economic development effort.
 "City administrations that are perceived to understand these needs and to be tackling them have a chance of successfully competing with other cities already aggressively recruiting and retaining business in the '90s," Ady claims.
 PHH Fantus is the leading international business management consulting firm. It is an operating unit of PHH Corporation (NYSE: PHH), Hunt Valley, Maryland.
 -0- 10/2/92
 /CONTACT: Robert Kelly of Kerr Kelly, 203-622-1723/
 (PHH) CO: PHH Fantus ST: Illinois IN: SU:


TM -- NYFNS2 -- 6363 10/05/92 07:32 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
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