Gainesville comes in at #3 in the list of Top 10 Best-Performing Small Cities
Metropolitan areas are crucial drivers of growth in the American economy, taking different paths to prosperity depending on their industry mix, policy choices, and available resources. The Milken Institute's Best-Performing Cities (BPC) index provides an objective benchmark for examining the underlying factors and identifying unique characteristics of economic growth in metropolitan areas.
Gainesville comes in at #3 in the list of Top 10 Best-Performing Small Cities.
- The high-tech industries continue to be important economic drivers in regional economies across the country. As rising wages and rents raised the cost of doing business in cities like San Francisco, Seattle, and San Jose, some firms chose to relocate or expand away from these regions, distributing opportunities to other parts of the U.S.
- A large share of the top gainers this year have defense and/or health care/medical sectors as their anchor industries. About one-third of these metros are college towns and/or manufacturing.
- Florida is home to six of the metros with the largest improvements in the ranking. The sunshine state is home to retiree havens and medical hubs.