Market Blog

Austin ranks No. 2 for American City Business Journals 2017 Economic Index

 

Every year the American City Business Journals (ACBJ) releases a report detailing the top metropolitan cities with economic vitality. Austin earned itself a No. 2 ranking this year. The ACBJ Economic Index analyzes the top 100 metros using data from a handful of government agencies such as the U.S. Bureau of Labor Statistics and U.S. Census Bureau.

Among the statistics gathered for each city are 25 primary statistical benchmarks. A huge indicator of Austin’s economic success is the increasing population, which saw a 15.5 percent jump in the past five years, a statistic startlingly higher than other metros — the only metro to come close to Austin is Cape Coral-Fort Myers, Florida, at 14.6 percent.

With the 275,000 residents added to the city during the past five years, Austin has seen an increase in jobs and thus economic growth, one of the reasons for its high ranking in the Index.

“Austin has added an average of 2,900 private-sector jobs each month since 2012. That translates to a five-year growth rate of 26 percent, fourth-best in America.”

G. Scott Thomas | Austin Business Journal

Other cities highlighted in the ACBJ Economic Index include Provo, Utah, at No. 1 and San Francisco–Oakland at No. 3. Twenty-one of the top 25 cities, including all of the top ten cities, are located either in the West or South of the United States.

[Via Austin Business Journal]

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