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ANNE JOHNSON-CHEVERERE
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RE/MAX Austin Skyline
4611 Bee Caves Rd., Suite 200
Austin, Texas 78746
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This is a MUST read
Posted Thursday, May. 13, 2010
'' & -->'' & -->Texas metro areas have already been singled out as among the best places to ride out the Great Recession, but a new study illustrates the long-term vigor of the Dallas-Fort Worth, Houston and Austin economies.
Seattle; Washington, D.C.; and Denver topped the list of strongest local economies over two decades, from 1989 to 2008, according to Policom Corp.'s 2010 ranking of 366 metropolitan statistical areas.
And while Houston (No. 4), Dallas-Fort Worth (No. 10) and Austin (No. 12) didn't lead the list, the top 15 spots are virtually interchangeable, said William Fruth, president of Policom, a Palm City, Fla., company that specializes in analyzing local and state economies.
What does stand out is Texas' long-term economic performance, he said.
Driving that success is the state's diversified economy, low tax rates and limited regulation, he said.
"There is no other state in the country that has had a better track record for 20 years of quality economic growth than Texas," Fruth said. "When you chart out the states, no one has done better."
Why?
"I knew the answer to that question and I asked a local economic developer in Texas. His response: 'We shoot regulators at the state line.' That sums it up," Fruth said. "You have greater economic freedom and an attitude that we want economic development.
"You go to Texas and you are a go-go state. We want you to come here and grow and be profitable."
Fruth's list closely mirrors an assessment of the best cities to find jobs released by Newgeography.com in April.
"If you look at all the regions, nothing else does as well as Texas," Pepperdine University professor Michael Shires told the Star-Telegram after the five major Texas cities notched half of the top 10 spots for jobs.
"During volatile times, places with broad-based growth strategies -- like Texas and Utah -- do best," Shires wrote in an article accompanying the rankings, "Finding the Good in This Bad Time."
Fruth said his rankings incorporate 23 economic factors and don't reflect the "latest 'hot spot' or boomtown" but areas with the strongest economic foundations.
"While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm," he said. "The top-rated areas have had rapid, consistent growth in both size and quality for an extended period of time."
Two factors helped Seattle notch the top spot: Boeing and Microsoft. "They provide lots of jobs, and they pay very well," Fruth said.
Washington, D.C., which has been ranked 1st, 2nd or 3rd over the last seven years, has a built-in advantage, he said.
"The federal government is bigger than any corporation. It keeps growing. The jobs are stable, and they pay well."
Other Texas metro areas in the top 100 were San Antonio (No. 29), Corpus Christi (No. 80) and Killeen-Temple-Fort Hood (No. 89).
STEVE CAMPBELL, 817-390-7981
ANNE JOHNSON-CHEVERERE
Realtor®
512-917-5260 Cell
512-328-5151 Office
512-328-0404 Fax
Follow me on
RE/MAX Austin Skyline
4611 Bee Caves Rd., Suite 200
Austin, Texas 78746
SEARCH ALL LISTINGS
The finest compliment I can ever receive is your referral. Please remember me when your friends, family, and co-workers are thinking about buying or selling residential and investment real estate.
