Virginia's Region 2000 Continues High Performance Ranking on 2011 Milken Insitutute Best-Performing Cities Index
December 16, 2011
The 2011 Milken Institute Best-Performing Cities Index was released this week and ranked the Lynchburg Metropolitan Statistical Area (MSA), a.k.a. Virginia's Region 2000, #54. While slightly down from last year's #35 ranking, Region 2000 joined the Northern Virginia MSA (#17) as the only other large Virginia MSA in the top 100. Northern Virginia also dropped from #6 in 2010 to #17 in 2011.
Virginia’s Region 2000 also ranked third nationally in five-year relative high tech gross domestic product growth and ninth nationally in job growth percentage for 2010-2011.
"This is great news to achieve such a ranking in this well-respected report," says Region 2000 Economic Development Council Executive Director Bryan David. "It is a tribute to the hard work and collaboration of our business, local government, and higher education leaders. This year’s Milken report demonstrates once again that our regional cooperation continues to support the vitality of our economy."
The index evaluates U.S. metropolitan areas by a number of factors: job creation and sustenance, economic growth, wage and salary, and technology.
According
to the report, "Leaders in this
year's index, which ranks U.S. metros based on their ability to create and
sustain jobs, are cities that most benefited from renewed investment in
business equipment; have diversified technology bases, which also drive growth
in business and professional services; are exposed to America's booming energy
sector; and are home to a large military presence.”
Nearly 400 metropolitan areas were ranked by the Milken Institute. San Antonio holds the number one position and leads many other
Texas metro areas, including nine of the top 25 rankings and four of the top
five spots.
A nonprofit, nonpartisan economic think tank, the Milken Institute works to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health. The institute produces rigorous, independent economic research — and maximizes its impact by convening global leaders from the worlds of business, finance, government and philanthropy. By fostering collaboration between the public and private sectors, they “transform great ideas into action.”