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McAllen Area Again Scores Well in Best Performing Cities Index
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McAllen Area Again Scores Well in Best Performing Cities Index
The McAllen Area scored high on the Milken Institute/Greenstreet Partners 2007 Best Performing Cities Index, taking number seven this year.
Nationwide trends influenced many regional shifts, including a rebound in the tech sector (boosting metros in the San Francisco Bay Area, Salt Lake City, Utah and Dallas-Plano-Irving, Texas), increasing global trade (pushing Wilmington, North Carolina to 2nd place) and even the effects of migration as a result of Hurricane Katrina (particularly Lafayette and Baton Rouge, Louisiana).
“There are dynamic forces at play at the national level that are being reflected at the local metro level,” said Ross DeVol, author and Director of Regional Economics at the Milken Institute. “Despite the global and national forces at play from year-to-year, 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.”
 America’s 10 Largest Cities: Existing high density offers limited space for expansion in established large cities and limits the ability of America’s largest metropolitan areas to compete with faster-growing regions, so they are also ranked separately in the annual Index. Nevertheless, burgeoning Riverside-San Bernardino-Ontario, California, tops the best performance among top 10 largest cities as well, followed by Phoenix-Mesa-Scottsdale, Arizona, and Houston-Sugarland-Baytown, Texas.
The lowest performers on this year’s Index once again come from the industrial Midwest. Nine of the bottom 10 performers on the 200 largest cities ranking are from this area, including the lowest ranked metro, Lansing-East Lansing, Michigan.
About the Best Performing Cities Index: The Index ranks U.S. metros based on their ability to create and sustain jobs. It includes both long-term (five years) and short-term (one year) measurements of employment and salary growth. There are also four measurements of technology output growth, which are included because of technology’s crucial role in regional economic growth.
The index series has been re-designated to reflect the year that it is released, rather than previous indexes that reflected the year the data was collected. The 2007 Best Performing Cities Index reflects data collected from 2006. This contrasts with the 2005 Best Performing Cities Index, which reflected data collected in 2005, but was released in 2006. The re-designation merely reflects a change in the title, not a gap in the data. The 2007 Best Performing Cities report and full rankings are available at www.milkeninstitute.org.
About the Milken Institute: The Milken Institute is a nonprofit, independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. |
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