ICYMI: Charlotte Region Ranked Among Strongest In US

ICYMI: Charlotte Region Ranked Among Strongest In US

CHARLOTTE, NC — The Charlotte metro region is one of the strongest metropolitan economies in America, according to a new study that looked at nearly two dozen factors over 20 years. POLICOM recently released its yearly community “economic strength” rankings, and the Charlotte-Concord-Gastonia area came in at No. 58 out of 383 commuauburnwineandfood.comnities in the country.

That’s two spots lower than the area’s 2017 ranking, and 55 spots lower than its 2009 ranking.

POLICOM ranked all 383 metropolitan statistical areas as well as all 550 micropolitan statistical areas, which refers to smaller economies.

Here’s how other metropolitan cities in North Carolina ranked:

Raleigh, No. 9 Durham-Chapel Hill, No. 65 Jacksonville, No. 167 Wilmington, No. 168 Fayetteville, No. 220 Greenville, No. 238 Greensboro- High Point, No. 255 Asheville, No. 262 Winston-Salem, No. 292 New Bern, No. 310 Burlington, No. 354 Goldsboro, No. 355 Hickory-Lenoir-Morganton, No. 364 Rocky Mount, No. 381

Here’s how other micropolitan cities in North Carolina ranked:

Pinehurst-Southern Pines, No. 27 Oxford, No. 40 Kill Devil Hills, No. 169 Wilson, No. 177 Morehead City, No. 208 Boone, No. 223 Sanford, No. 243 Dunn, No. 279 Albemarle, No. 334 Cullowhee, No. 338 Mount Airy, No. 342 Elizabeth City, No. 380 Kinston, No. 404 Washington, No. 406 Shelby, No. 411 Rockingham, No. 431 Marion, No. 451 Henderson, No. 481 Brevard, No. 490 Lumberton, No. 494 North Wilkesboro, No. 506 Laurinburg, No. 510 Roanoke Rapids, No. 531 Forest City, No. 535

For the second consecutive year, Austin, Texas, topped the list for metropolitan areas.

“With a diversified economy, the area has enjoyed consistent economic growth for a very long time,” the company said in a release.

Bozeman, Montana, jumped up a spot from last year to take the top spot for micropolitan areas, as a result of what the company said was rapid growth in professional services and manufacturing.
“The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” company President William Fruth said in a release.

POLICOM, based in Palm City, Florida, studies local and state economies and gives them advice on how they can improve. While the rankings reflect how an area has behaved, it doesn’t necessarily indicate why it has behaved that way. Individual communities each have their own economic characteristics and can grow — or decline — for a myriad of reasons.Even so, a local economy’s growth and expansion is directly tied to the amount of money flowing into the area, Fruth said.

“For the most part, money is imported to a community by way of the business activity of the primary or contributory industries,” he said. “These enterprises sell their goods or services outside the area, thus importing wealth to the economy.”The strongest economies have “nurtured and caused” their main businesses to grow and expand, Fruth said. In the weakest areas, the main businesses failed, causing the overall economy to dip.

The company used data from 1997 to 2016 for its latest study.A metropolitan area must be at least one county and have a city with at least 50,000 residents. Most are made up of multiple counties.Micropolitan areas are smaller. They include at least one county and must have an urban center of at least 10,000 residents, but less than 50,000.

Here are the top 10 metropolitan areas for economic strength:

Austin-Round Rock, Texas Napa, California Seattle-Tacoma, Washington Nashville-Davidson, Tennessee San Jose-Sunnyvale, California Indianapolis-Carmel, Indiana Dallas-Fort Worth, Texas Salt Lake City, Utah Raleigh, North Carolina Denver-Aurora, Colorado

Here are the ten strongest micropolitan areas for economic strength:

Bozeman, Montana Lewisburg, Pennsylvania Truckee-Grass Valley, California Traverse City, Michigan Wooster, Ohio Andrews, Texas Durango, Colorado Edwards, Colorado Kapaa, Hawaii Dickinson, North Dakota

Patch reporter Dan Hampton contributed to this report.

Photo credit: Bill Pugliano/Getty Images

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