100 LEADING LOCATIONS for 2012 [Area Development Site and Facility Planning]
| By Shea, Justin | |
| Proquest LLC |
Which MSAs Rank Highest for Economic & Job Growth?
IT'S CERTAINLY NOT NEWS THAT TIMES HAVE BEEN TOUGH ACROSS AMERICA'S CITIES IN RECENT YEARS. The Great Recession may be officially over, but many communities are still suffering a painful hangover.
Not these MSAs, though.
This analysis of Leading Locations is informed by two dozen different economic and workforce indicators from the
WHAT GENERAL CONCLUSIONS CAN BE DRAWN?
The truth is, there are myriad explanations for why these MSAs have fared the way they have. But take a look at the top performers overall and you'll see a lot of locations closer to the nation's midsection than the coasts -
Otherwise, though, these top locations advanced for a variety of reasons. Some of the locations highest on the list are experiencing explosive growth in extraction of energy from shale or from the
Read on for a closer look at some of the locations that we choose to highlight among the 100 leaders and find out what's driving their success.
The
Relocating and expanding businesses have invested
This MSA - located in
In confirmation of our rankings, in 2009,
Since 2000, relocating or expanding businesses have invested more than
Ranking 7th among
Prized for a low cost of doing business,
Beyond the thousands who work at area healthcare providers and financial institutions, there's a strong manufacturing sector that includes
Ranking 2nd among
From mid-2009 through mid-2011, the area landed
Placing 7th on the list of
Journalists and analysts have also spotlighted the community's pluses.
Ranked 3rd among the Top 10 Mountain Cities was
The area has been a magnet for high-tech developments, including a recent announcement of a
It's the ultimate college town, home not only to the flagship campus of
The
Ranking 1st among the 100 Leading Locations overall, the small
Among the significant 2011 headlines, Japanese auto components maker Sunright America announced plans to create 100 jobs, and Cummins announced an
In the 4th spot among
Since 2000,
According to
This part of
On the surface, the Tri-Cities seem almost laid back, with stunning scenery, 300-plus days of sunshine a year, and most of
No. 1 among the Top 20 Southern Cities and 3rd overall among Area Developments 100 Leading Locations was
It's home to the
The city is accustomed to accolades, being named
An oil boom is presently fueling local employment, filling jobs not just in energy but also across the economy, including in construction, hospitality, and business services. Some local companies have even set up "man camps" to house laborers, and in nearby
An array of investments dots the Odessaarea map. One of the biggest is the
That's no surprise to national economic observers: Garner Economics this year reported
Education, energy, and the military are among top local employers: examples include
Helping
Over the past five years,
Multiple sectors fuel the area's job growth. The bioscience sector recently got a boost when it landed headquarters and manufacturing facilities of Xenex Healthcare Services, and the automotive sector cheered when
* MORE INFORMATION ON UNDERSCORED COPY IN THIS ARTICLE CAN BE FOUND IN THE "NEWS ITEMS" SECTION OF AREA DEVELOPMENT ONLINE.
MANY OF THE LEADING LOCATIONS ARE HOME TO UNIVERSITIES.
METHODOLOGY
Each MSA earned a ranking within each of the 23 indicators based on its statistical performance within that indicator. The MSA with the best performance in a certain indicator earned a ranking score of "1 " and the MSA with the worst performance earned a ranking score of "365."
To calculate "Overall Ranking," we added the total ranking across all indicators for each MSA and then divided by the total number of indicators to reach an average ranking. The MSA with the lowest average earned the #1 overall ranking, while the MSA with the highest average ranked #365 overall.
We also calculated overall ranking across three categories: "Prime Workforce," "Economic Strength," and "Recession-Busting" factors. To calculate the overall ranking within these three categories, we produced an average ranking across only certain sub-category indicators. An indicator did not have to be exclusive to our category rankings. For instance, the "Employment Growth Net 3-Year Change as Percentage of Population" was used within both the "Economic Strength" and "Recession-Busting" categories.
We have also produced a set of lists, using our overall results and category results, grouping the MSAs by region and size. We ranked the Top 10-20 MSAs in each region (defined by Area Development Online taxonomy), and we also ranked the top MSAs across three size groups: "Small" (population < 160,000), "Mid-size" (population 160,000-600,000), and "Big" (population > 600,000). We ranked the cities within each size group against our overall rankings and "Prime Workforce," "Economic Strength," and "Recession-Busting" categories.
For a full explanation of the methodology behind our Leading Locations report, go to www.areadevelopment.com/LeadingLocations2012/methodology.
THE LEADING LOCATIONS ARE AMONG THE NATION'S "RECESSIONBUSTERS."
AN ARRAY OF INVESTMENTS I HAVETAKEN PLACE IN THE LEADING LOCATIONS.
OTHER RESPECTED SOURCES CONFIRM THE LEADERS' TOP RANKINGS.
LOCATION PROFILES WERE RESEARCHED AND WRITTEN BY
100 Leading Locations Report Sponsors
As the urban core of the world's leading innovation region, the
economlc.developmentesanjoseca.gov
Home to three U.S. R&D/Tech Centers, a Fortune 200 HQ, and a robust manufacturing base,
Established in
www.lowaEconomicDevelopment.com
We are reinventing
www.MichiganAdvantage.org/AreaDev
TRl-ClTlES DEVELOPMENT COUNCIL
Located in southeastern
THE STATISTICS FOR THIS REPORT WERE RESEARCHED AND COMPILED BY
| Copyright: | (c) 2012 Halcyon Business Publications, Inc. |
| Wordcount: | 4400 |


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