Raleigh, Charlotte Both Make Forbes' List: Recession-Proof Cities
Forbes recently released its top-ten list of U.S. cities best protected against the current economic downturn; Raleigh and Charlotte both made the cut.
To create the list, Forbes pulled the 50 largest metro areas of the country and ranked them, according to a set of criteria.
Some of the criteria:
• net job losses or gains, as gleaned from data provided by the US Bureau of Labor Statistics
• job growth in non-farm payrolls (construction, education and health services, financial activities, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, trade, transportation and utilities)
• annual gains in median home prices, as gleaned from data provided by the National Association of Realtors
Final rankings were adjusted by:
"using data from a November 2007 report, "U.S. Metro Economies: The Mortgage Crisis," by the U.S. Conference of Mayors. It lists each city's estimated gross metropolitan product growth by projecting how rising foreclosures and falling home prices would affect overall levels of productivity in local economies."
To recap: this is fantastic news. Kudos to our friends/clients over at NCEDA and WCED. Read the original article.
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That's great news for us here in the Triangle and for North Carolina. When the New Englanders find out, then we'll really need to get serious about funding new infrastructure.
Wow -- impressive. But not a reason to take anything for granted. I keep wondering who's going to buy all the houses that are going up by the hundreds in my end of town (Southwest Wake County).
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