AREA DEVELOPMENT ANALYZES ECONOMIC AND WORKFORCE DATA FOR 373 MSAS TO DETERMINE WHICH U.S. CITIES ARE CREATING JOBS AND NURTURING SUSTAINABLE ECONOMIC DEVELOPMENT.
ELIZABETHTOWN’S RANK IN THE FOLLOWING CATEGORIES:
89th in the 100 LEADING LOCATIONS
4th in the TOP 10 SOUTHERN CITIES
12th in the TOP 30 SMALL CITIES
5TH in the TOP 20 SMALL CITIES- “RECESSION BUSTING”
20th in the TOP 20 SMALL CITIES –“PRIME WORKFORCE”
20th in the TOP 20 SMALL CITIES – “YEAR-OVER-YEAR GROWTH”
For a complete explanation of the categories and the methodology used to determine the ranking, refer to the article from Area Development Magazine found below.
Reprinted from Area Development Magazine http://www.areadevelopment.com/Leading-Locations/Q2-2015/Leading-Metro-Locations-Full-Results-4433916.shtml
This is the fifth year that Area Development has undertaken its “Leading Locations” study. The four key categories used in determining state rankings for 2015 — prime work force, economic strength, year-over-year growth, and “recession-busting” attributes — are all critical factors for business leaders to assess when considering a location or expansion. Every employer wants ready, well-qualified workers who are motivated, skilled, and require little training. There are also big benefits in locating in communities with track records of economic growth. These cities/MSAs understand how business works and have the leadership, vision, and creativity to nurture sustainable economic development year after year — and not just in good economic times. Perhaps what is most telling about a city or community is how it handled a bust cycle, or a recession — how did it get through? How did it still create business investment? How did it create jobs? How did it keep looking forward and creating positive results?
Most community leaders would agree that what is most important for economic sustainability is not a one-time, lucky swing at the plate that brings in a big company, but a holistic strategy of economic development with well-thought-out goals. Community and business leaders then collaborate to make the necessary investments to achieve those goals five, 10, or 15 years down the road.
The benefits of this mindset go far beyond the bottom line. When cities invest in themselves to create a strong workforce and a prosperous, conscientious business community, they create a place with a high quality of life. This leads to in-migration of talented people with multiple skills and talents. Successful companies will attract suppliers and other business investment — possibly even creating clusters or corridors that gain national attention. All these things increase the leverage a community has for attracting new business, as well as its ability to offer compelling incentives to top-level companies — creating a track record of economic success.
Included in the Leading Locations report on AreaDevelopment.com is an interactive table that will allow viewers to sort the rankings of all 373 MSAs included in this year’s study. The report includes an overall ranking that is based on 21 economic indicators. Area Development also created category rankings that are based on sub-groups of indicators from the 21 used for the overall results (refer to the methodology to learn more). Readers can use filters to easily segment MSAs by region, population size, and state, or use the search field to locate specific MSAs. The expanded version of the chart displays how each city ranks in every one of the 21 indicators used in the study.
Area Development’s research desk compiled the statistics for this report. Locations were ranked according to the methodology explained herein. Location profiles/articles researched and written by Mark Crawford, Staff Editor.