Austin: The Strongest Metropolitan Economy in the Nation
According to a new study analyzing two dozen metrics over a 20-year period, Austin has the strongest economic strength in America, ranked first out of 383 metropolitan statistical areas. The study, conducted by POLICOM company, collected data from 1997-2016. Napa, California, was the second ranked metropolitan area, behind Austin.
The only other Texas economy to break the top ten metropolitan ranking was Dallas-Fort Worth at No. 7. The study also analyzed 550 "micropolitan" regions, which qualify as smaller economies. For the micropolitan regions rankings, Andrew, Texas, came in at No. 6, the only Texas city to rank. Lubbock, Texas, is the biggest city in close proximity to Andrew.
The study also reveals the economic growth for the Texas capital, which is impressive. This is mainly influenced by growth and activity. According to POLICOM President William Fruth, the strongest economies have "nurtured and caused" their main businesses to grow and expand.
“In 2009, Austin ranked as the nation's 19th-strongest economy before gradually reaching the top spot. By 2010, the city vaulted seven spots to earn its spot as the 12th-ranked economy in terms of strength.”
The data was determined by looking at an economy’s behavior, not what caused the economy’s performance. The behavior of each economy was determined by analyzation based off of three group categories. The groups include categories such as “Retail – jobs,” “Earnings by Place of Residence,” and “Per Capita Income Maintenance (welfare).”
[Via Downtown Austin Patch]Posted on Monday, June 4, 2018