Every year, the Milken Institute releases its rankings of the best-performing cities in the U.S. The index is intended to evaluate the relative growth of metropolitan areas and point out those that have developed successful community strategies. Austin ranked as one of the top ten best-performing cities for 2017.
To develop the list, the Milken Institute uses fact-based metrics in nine categories. Metrics include growth in jobs, wages and salaries, and technology output over time. The index also measures high-tech fields whose concentrations in a metropolitan area are higher than the national average.
The Best-Performing Cities list has been published since 1999. Austin has ranked among the top 10 cities on the list since 2008. For several years, Austin appeared in the top 3 cities. Its long-term strong ranking is proof that Austin is an exemplary city of successful long-term growth and development. The policies and the strategy that Austin city leaders have developed are helping to build Austin into a city that will likely continue to thrive into the foreseeable future.
“Metropolitan areas are crucial drivers of growth in the American economy, taking different paths to prosperity depending on their industry mix, policy choices, and available resources. While some parts of the country are thriving, others are falling behind,” explains Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics. “Our goal is to help businesses, investors, industry associations, development agencies, government officials, academics, and public-policy groups monitor and evaluate how well their region is adapting to and planning for both current and future economic trends.”
For 2017, Austin made number 9 on the Milken Institute’s Best-Performing Cities list. If the Live Music Capital ranks in the top 10 for 2018, then it will mark a decade among the top 10 of the best-performing cities list. In the past decade, no other U.S. city has consecutively ranked in the top 10 of the index as Austin.
The Milken Institute’s Best-Performing Cities index (www.best-cities.org) provides an objective benchmark for examining which regional strategies are succeeding.
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