Complex sentence: This mobile class of people are differentiating urban areas in terms of values, culture, economic specialization, and other factors, and businesses are following the most talented people to these cities despite high land prices and labor costs.
Split into simpler sentences: This mobile class of people are differentiating urban areas in terms of values, culture, economic specialization, and by other factors. Businesses are following the most talented people to these cities despite high land prices and labor costs.