Provo #3 Fastest Growing City!

Beau Sorensen - Downtown

I don’t know how this ranking slipped past the blog but back in February, Forbes ranked Provo as the #3 fastest growing city in America! Forbes’ annual list of America’s fastest-growing cities is to give a holistic picture of places on the upswing. That means looking not just at job, population or output growth individually, but considering how these important measures and others come together. It means looking back to see which cities grew the most in 2016 and forward to project which cities will make strides in 2017. They looked at growth of population, employment, wages, economic output and use home price growth as a proxy for wealth.

So what did they find when they looked at Provo? The Provo, Utah, metro area had the strongest wage growth in the country in 2016 at 7.5% thanks in large part to an expanding and competitive tech sector. Residents are expected to get an even bigger raise next year: Moody’s is projecting 9.45% wage growth in the area in 2017. Provo is one of just six cities with 2016 wage growth above 7%. The others are: Stockton, Calif.; Portland, Ore.; Seattle, Wash.; Spokane, Wash. and Cape Coral.

National wage growth 2016: 4.19% 2017: 5.43%

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