Provo has been ranked #3 for Best Performing City in 2014 by the Milken Institute! Their Best-Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. Check out the details of the ranking below:
- Provo led large metros in job growth in 2013 (5.3 percent).
- Technology gains and construction bouncing back from a weak start to the year should underpin economic expansion.
- Unemployment rate in the metro area has fallen to just 3.4 percent.
- The metro is home to many highly regarded companies in information technology, advanced manufacturing, and life sciences.
- Provo’s low taxes and favorable business environment overall provide an advantage over other tech centers.
- Provo has a thriving startup environment as well.
- Frontier Communication established a new technical support center and 350 new jobs, with the promise of an additional 200 jobs.
- Professional, scientific, and technical services jobs rose by 9.8 percent in 2013 and by 25.5 percent since 2010.
- Brigham Young University and Utah Valley University are supporting this growth by turning out graduates in the fields of science, technology, engineering, and mathematics (STEM).
- Health care has seen rapid job growth, aiding overall economic gains.
- Housing and commercial space demand is growing as well.
View more of the ranking at best-cities.org.0