Houston Near Top of 2012 Best Performing Cities List
Jan 28, 2013
The greater Houston metro area made a drastic climb up on the list of best performing cities compiled by a California-based think tank.
Based on data related to job, wage and salary, and technology growth, Houston jumped from No. 16 last year to No. 4 among the nation's 200 largest metropolitan area, according to the 2012 Milken Institute Best-Performing Cities Index report, which was released Jan. 17. In addition to Houston, two other Texas metro areas made the top 10. The Austin metro area was ranked higher, but it didn't climb as much as Houston — it moved from No. 4 to No. 2. Fort Worth-Arlington jumped 14 spots to take the No. 10 position.
"Texas metros continue to be strong — but did not dominate as in recent years," Milken said in a statement. "There were seven Texas cities in the Top 25 … as opposed to nine last year and 11 two years ago. Softness in natural gas prices and the wind-down of the military base consolidation program are having an impact on the Lone Star economy."
According to the study, what's driven growth in most of the metro areas has been technology, a "resurgence of business investment in equipment, especially information technology and software," and a "recovery in traditional manufacturing … particularly autos and heavy capital goods like mining equipment and excavators."
You can read more about the report, and view the complete list of all 200 metros, at the institute's website.
Source: Houston Business Journal