For the second straight year, the Milken Institute has ranked College Station-Bryan No. 4 nationally and No. 1 in Texas on its list of Best Performing Small Metros.
The Best-Performing Cities index ranks metropolitan areas by how well they are creating and sustaining jobs and economic growth. The index is based on the growth of technology, jobs, wages and salaries. The Milken Institute is a nonpartisan, independent think tank located in Santa Monica, Calif.
Leader in Job and Wage Growth
“College Station-Bryan, Texas, maintained fourth place through solid long-term job and wage growth,” the report said. “Job growth was 13 percentage points higher than the national average over the five-year period, and wage growth was 6.5 percentage points higher. The local economy, especially real estate, was mainly supported by non-residential construction and Texas A&M University.
“A&M continues to be one of the metro’s key economic drivers, employing roughly 17 percent of the 97,000 residents with jobs. It is likely to remain strong given that most of the necessary job cuts were made in 2010. A&M recently approved more than $54 million in construction projects that will support the non-residential construction sector. Other projects such as the College Station Medical Center expansion also are under way.”
Texas Cities Dominate
Texas cities dominated the large metro list, claiming four of the top five spots: No. 1 San Antonio, No. 2 El Paso, No. 4 Austin-Round Rock, and No. 5 Killeen-Temple-Fort Hood.
“Lone Star State employers created one in five new U.S. jobs during the 12 months ending in June 2011,” the report said. “Texas cities have benefited from a low reliance on durable goods manufacturing, low business costs, a favorable business climate, the consolidation of military bases, renewed trade with Mexico and South America, and ongoing energy exploration activities and alternative fuels research.
“Add assertive recruiting of businesses from out of state, and you have the secret sauce behind Texas’ success.”
For more information on the Milken Institute or to obtain a copy of the report or arrange an interview with one of its authors, contact Director of Communications Conrad Kiechel at email@example.com.
List of Accolades Grows
College Station-Bryan has received mention in a wide variety of national rankings in the last two years:
• No. 3 Small U.S. Cities for Jobs (Forbes)
• No. 4 Best-Performing Small Metro in U.S. (Milken Institute)
• No. 4 U.S. City for Military Retirement (USAA)
• 5 U.S. Cities in Full Blown Economic Expansion (MSNBC)
• No. 7 Small U.S. City for Job Growth (Forbes)
• No. 9 Small U.S. City for Business and Careers (Forbes)
• Top 10 U.S. Cities for Raising Families (Kiplinger’s)
• No. 20 Small U.S. Cities for Education (Forbes)
• Lowest foreclosure rate in the U.S. (Foreclosure-Response.org)