AUSTIN jumps to # 1Best Performing City
Posted by Monte Davis on Monday, November 16th, 2009 at 3:49pm.Milken Institute/Greenstree Real Estate Partners released its ranking of Best Performing Cities Index.
Austin jumped from number 4 to the number 1 position and is the only city to have achieved the number 1 ranking twice – the last time being in 2000!
The study ranked U.S. metro areas based on their ability to create and sustain jobs, measuring employment, salary growth and technology output. An explanation is listed below for how Austin obtained an overall first place ranking. The favorable Texas business enviornment also helped Austin and other Texas cities along with a pattern of low taxes. The recent $500 million research funding for Tier One Universities was also cited.
Click Here to access the full press release.
Austin-Round Rock, TX MSA Overall Rank: 1 MSA Population: 1,652,602
5-yr Job Growth (2003-2008) (1)Score: 112.92Rank: 6
1-yr Job Growth (2007-2008) (2)Score: 103.04Rank: 4
5-yr Wages & Salaries Growth (2002-2007) (3)Score: 109.66Rank: 19
1-yr Wages & Salaries Growth (2006-2007) (4)Score: 103.08Rank: 5
Job Growth (Mar08 - Mar09) (5)Growth: 0.32 %Rank: 4
5-yr Relative HT GDP Growth (2003-2008) (6)Score: 112.86Rank: 20
1-yr Relative HT GDP Growth (2007-2008) (7)Score: 102.41Rank: 11
High-Tech GDP LQ – 2008 (8)Score: 1.56 Rank: 14
# of HT GDP LQs Over 1 – 2008 (9)Score: 10.0Rank: 23
1) Five-Year Job Growth. Metropolitan area job growth relative to the United States average between 2003 and 2008. U.S. average = 100.0
2) One-Year Job Growth. Metropolitan area job growth relative to the United States average between 2007 and 2008. U.S. average = 100.0
3) Five-Year Wages & Salaries Growth. Salary and Wage disbursements growth relative to the United States average between 2002 and 2007. U.S. average = 100.0
4) One-Year Wages & Salaries Growth. Salary and Wage disbursements growth relative to the United States average between 2006 and 2007. U.S. average = 100.0
5) Short Term Job Growth. Job Growth/decline between March 2008 and March 2009 percentage.
6) Five-Year Relative High Tech GDP Growth. High tech sector output growth relative to the United States average between 2003 and 2008. U.S. average = 100.0
7) One-Year Relative High Tech GDP Growth. High tech sector output growth relative to the United States average between 2007 and 2008. U.S. average = 100.0
8) 2008 High Tech GDP Location Quotient. Combined Metropolitan area high tech location quotient during 2008. Location Quotient (LQ) is a measure of high tech concentration (U.S. = 1.0). A metro with an LQ higher than 1.0 is said to be more concentrated than the United States and vice versa.
9) Number of Highly Concentrated High Tech Industries. Measures the number of high technology industries with a location quotient (LQ) about the U.S. average of 1.0 during 2008.
Best Performing Cities- Top 25
2009 Rank2008 RankMetropolitan Area
1 4 Austin-Round Rock, TX MSA
2 13 Killeen-Temple-Fort Hood, TX MSA
3 3 Salt Lake City, UT MSA
4 7 McAllen-Edinburg-Mission, TX MSA
5 16 Houston-Sugar Land-Baytown, TX MSA
6 21 Durham, NC MSA
7 9 Olympia, WA MSA
8 5 Huntsville, AL MSA
9 14 Lafayette, LA MSA
10 2 Raleigh-Cary, NC MSA
11 15 San Antonio, TX MSA
12 29 Fort Worth-Arlington, TX MD
13 23 Dallas-Plano-Irving, TX MD
14 37 El Paso, TX MSA
15 45 Wichita, KS MSA
16 88 Corpus Christi, TX MSA
17 17 Seattle-Bellevue-Everett, WA MD
18 40 Baton Rouge, LA MSA
19 72 Tulsa, OK MSA
20 20 Greeley, CO MSA
21 8 Tacoma, WA MD
22 48 Fort Collins-Loveland, CO MSA
23 54 Little Rock-North Little Rock-Conway, AR MSA
24 67 Shreveport-Bossier City, LA MSA
25 41 Washington-Arlington-Alexandria, DC-VA-MD-WV MD
Their web site also provides a map showing how Austin has ranked over the years which can be found
HereHere’s how Austin has been ranked this decade:
1999 – 2
2000 – 1
2001 – 2
2002 – 19
2003 – Not ranked in top 20
2004 – Not ranked in top 20
2005 – Not ranked in top 20
2007 – 20
2008 – 42009 – 1
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