Friday, May 16, 2008

Oct. 4 - Growth, Stability and Opportunity in the Sunshine State
Information for Buyers

ORLANDO, Fla. – Oct. 4, 2007 –The Milken Institute/Greenstreet Partners 2007 Best Performing Cities Index – 200 Largest Metros, along with its complementary study of the best 200 small metro areas, ranks cities on their ability to create and sustain jobs, which translates into employment opportunities and salary growth.

For the third consecutive year, Florida metropolitan areas scored high on the 200 Largest Metros index, taking three of the top six spots – including this year’s top-ranked metro, Ocala.

The Orlando-Kissimmee MSA ranked No. 5, followed by Naples-Marco Island at No. 6. All together, 16 metro areas in Florida placed in the top 100 spots nationally in the largest metros index. In the complementary small metro area index, two areas in the Panhandle (Panama City-Lynn Haven and Fort Walton Beach-Crestview-Destin) ranked in the Top 20 for Best Performing Cities Index.

The index measures both long-term (five years) and short-term (one year) projections for employment and salary growth. Researchers attribute Ocala’s strong showing to job growth, averaging 5.8 percent during the past two years, and a robust housing market.

According to the research, Ocala, as well as the Orlando-Kissimmee and Naples-Marco Island metro areas in Florida, scored well in the index because of their tourism and tech-based manufacturing.

“There are dynamic forces at play at the national level that are being reflected at the local metro level,” says Ross DeVol, director of regional economics at the Milken Institute. “One of the key distinguishing characteristics of successful places over the long-term is the entrepreneurial strength of its residents. Entrepreneurs replenish the jobs lost in declining industries and firms,” DeVol said.

Here are the Top 10 performers (with last year’s ranking in parentheses) of the 200 largest metros:

1. Ocala, FL (13)
2. Wilmington, NC (59)
3. Riverside-San Bernardino-Ontario, CA (10)
4. Phoenix-Mesa-Scottsdale, AZ (15)
5. Orlando-Kissimmee, FL (6)
6. Naples-Marco Island, FL (3)
7. McAllen-Edinburg-Mission, TX (7)
8. Provo-Orem, UT (23)
9. Las Vegas-Paradise, NV (11)
10. Raleigh-Cary, NC (45)