In 2010, global biotechnology company Biogen moved its offices from downtown Cambridge, MA, to a large suburban campus in Weston, 25 minutes away. In 2014, less than four years later, the company moved back.

“There is so much going on in Cambridge,” said Chris Barr, Biogen’s Associate Director of Community Relations. “It is such a vibrant place to live and work—it’s been a great move back for us.”

Biogen is one of hundreds of companies across the United States that have moved to and invested in walkable downtowns over the past five years. Our newest research takes a closer look at this emerging trend.

Core Values: Why American Companies are Moving Downtown is a new report released today by Smart Growth America in partnership with Cushman & Wakefield and the George Washington University School of Business’ Center for Real Estate and Urban Analysis. The new report examines nearly 500 companies that moved to or expanded in walkable downtowns between 2010 and 2015, and includes interviews with more than 40 senior-level staff at those companies.

The results provide an overview of why these companies chose a walkable downtown and what they looked for when considering a new location. The report also includes ideas for cities about how they can create the kinds of places these companies seek.