Tech, Energy, and Tourism Drive Success for Top-Performing Cities

New research ranks the most economically dynamic cites in America, underscores opportunities and threats brought on by COVID-19

News provided by

Heartland Forward

Dec 15, 2020, 09:02 ET

BENTONVILLE, Ark., Dec. 15, 2020 /PRNewswire/ -- Today, Heartland Forward published a new report, "Most Dynamic Metropolitan Regions," that ranks 375 U.S. metropolitans by their economic performance. Midland, Texas, the capital of the oil-rich Permian basin, placed first for the second consecutive year. The rankings draw upon both pre-pandemic data and recent job momentum data to assess each metropolitan's economic performance before and during the pandemic. Cities with vibrant tech, tourism and oil & gas industries performed best, but some of these sectors are especially vulnerable to the economic fallout of COVID-19—putting these cities' future success in jeopardy.

The following metropolitans made the top 10:

Midland, Texas
San Jose-Sunnyvale-Santa Clara, Calif.
Provo-Orem, Utah
Boulder, Colo.
San Francisco-Oakland-Hayward, Calif.
Austin-Round Rock, Texas
Seattle-Tacoma-Bellevue, Wash.
Greeley, Colo.
Naples-Immokalee-Marco Island, Fla.
St. George, Utah

"This research offers insight into how our country's cities, which account for more than 88% of America's GDP, can position themselves for economic success," said Ross DeVol, president and CEO of Heartland Forward. "To help navigate the road to recovery from the pandemic, policymakers in regions across the country can use our report to better understand their communities and adapt their neighbors' strategies to their own needs. Heartland cities—even those that didn't make the top 30—are well-positioned to turn the COVID-19 crisis into an opportunity to thrive post-pandemic."

Heartland Forward constructed an index to rank the metropolitan areas, including metrics such as job growth, job momentum, average annual earnings, GDP gains, total jobs at new businesses and employee educational attainment. The metrics capture both short- and long-term trends, with data on job momentum through this past August and data on employee educational attainment from 2017. Heartland Forward draws data from the Bureau of Economic Analysis, Census Bureau, and Bureau of Labor Statistics.

Just five Heartland cities made the top 30, but the report makes the case that cities in the middle of the country may be in a good position to move up in the rankings post-pandemic as workers seek lower costs of living, greater access to raw materials and lower start-up costs.

"Congratulations to Midland and Austin-Round Rock for being named two of the most dynamic metropolitans nationwide. It's no surprise that two Lone Star communities have earned this recognition, given Texas' low taxes, robust infrastructure and welcoming business environment, which helps communities like Midland and Austin-Round Rock thrive," said Texas Governor Greg Abbott. "But most important of all, it is the people of Midland and Austin-Round Rock who are the driving force behind the tremendous success of these two communities. I'm proud that these metropolitan areas have been recognized for their success and for the crucial role they play in keeping Texas the greatest state in America."

"Out of 375 metros ranked in this report, we're excited to see that Utah had four metros ranked in the top 30," said Utah Governor Gary R. Herbert. "With our diverse economy, our business-friendly environment and our easily accessed outdoor playground, it's no surprise that these Utah cities ranked high."

"We are so pleased to see that our Daphne-Fairhope-Foley Metro Area ranked as 26^th among the most dynamic metropolitans in the U.S. out of 375," said Alabama Governor Kay Ivey. "This is no surprise to us, as it is an amazing place to live, work and play. It is industries like Collins Aerospace that have brought both great jobs and diversification of industry. We are so proud they produced the first A220 aircraft in this facility and delivered it to Delta Airlines this fall, prevailing despite it being a year of such uncertainty. Resilience is what makes us Alabama!"

"From Little Rock to the Memphis Delta, Northwest Arkansas, Fort Smith, Texarkana and Pine Bluff, the leaders in Arkansas' metropolitan areas innovate, invest in their communities and ignite the entrepreneurial spirit, which is why the Natural State is a great place to do business and call home," said Arkansas Governor Asa Hutchinson. "Heartland Forward's recognition of these communities and its ranking of the Northwest Arkansas metro as the third best among medium metros around the nation confirms what Arkansans already know. Thanks to the Most Dynamic Metropolitans report, now the rest of the world knows."

"We are pleased to see Northwest Arkansas rank 21^st in Heartland Forward's report of the nation's top 30 most dynamic metropolitans and third among our 'medium' metro peers," said Nelson Peacock, president and CEO of the Northwest Arkansas Council. "With a vibrant economy and access to unique outdoor, arts and cultural amenities, it's no surprise our community continues to receive high marks for its incredible quality of life."

"We couldn't be more proud or impressed to learn that Boulder is ranked fourth among the top 30 metro areas in the U.S. as shared in Heartland Forward's annual top metros report," said Chancellor Philip DiStefano of the University of Colorado Boulder. "For those of us who live in Boulder, we know it is a place that embraces a healthy, culturally-enriched lifestyle. Coupled with our mission as a university, we work to drive a strong economy built on leadership, innovation and entrepreneurial resources. All of this attributes to the strong ranking received."

The full report and rankings, including profiles for the top-performing cities, can be found here.

About Heartland Forward:

Heartland Forward's mission is to improve economic performance in the center of the United States by advocating for fact-based solutions to foster job creation, knowledge-based and inclusive growth and improved health outcomes. We conduct independent, data-driven research to facilitate action-oriented discussion and impactful policy recommendations.

SOURCE Heartland Forward