You could make songs out of the cities that took top honors in this year’s Milken Institute's annual Best-Performing Cities list released Tuesday.
The winners for 2015 reflect the growth of technology and the decline of fossil fuels, with cities that excel in innovation increasingly driving both the local and national economies.
The Milken Institute, a nonprofit, nonpartisan think tank dedicated to increasing global prosperity, has compiled its list of top performing cities since 1999. The ranking of 200 large cities and 201 smaller metropolitan areas is based on growth in employment, wages and technology. Milken also compiles data on such things as the best large and small cities for aging well.
“More than ever, America's best-performing cities demonstrate what we call the innovation advantage,” says Ross DeVol, chief research officer of the Milken Institute and one of the report's authors. “That is witnessed not just in traditional technology but in the importance of software, social media and even cutting-edge health innovation.”
“This year's Best-Performing Cities index tells a tale of two sectors—technology and oil—moving regional economies in opposite directions,” says DeVol. "In the shale oil patch, plummeting energy prices are undercutting the performance of those metros reliant on the sector, such as Tulsa and El Paso.
“But in the Top 25 cities, the softer side of high tech is fueling urban economies with stellar job and wage growth,” he adds. “As cities across America focus on fostering high-quality jobs, our best-performing cities are showing the way.”
Colorado captured four spots in the top 25 metros, while Texas has three, compared with seven in 2014.
Eight of the 25 biggest gainers among large metro areas were in Florida, with Port St. Lucia jumping 98 spots from last year, the most of any metro.
Following are the top 10 performing cities for 2015 in ascending order. The entire list can be found here.
10. San Luis Obispo-Paso Robles-Arroyo Grande, Calif.
