A new data analysis by CoworkingCafe titled “America’s Boomtowns: Top Cities for Economic Growth” has named two Arizona localities and an Idaho municipality as the nation’s leaders for commercial activity and quality of life.
This new analysis number-crunched metrics encompassing median earnings, business applications, crime rates, educational attainment, employment rates, unemployment rates, gross domestic product (GDP), housing units, infrastructure (total roadway miles), population growth and trade exports. The cities were divided into three categories: small cities with populations under 250,000, mid-sized cities (between 250,000 and 500,00), and large cities (over 500,000).
Among the top large cities for economic growth, the study ranked Mesa, Arizona, as the leader with a 38% GDP growth between 2018 and 2022, an employment growth of 2% over the same period plus a 34% uptick in its infrastructure.
“This robust economic performance can be linked to several strategic initiatives and factors,” said the report. “Mesa’s focus on diversifying its economy has attracted numerous tech companies, bolstering the city’s GDP and creating high-quality jobs. Additionally, the city’s investment in infrastructure, including transportation and public amenities, has made it a more attractive place for businesses and residents alike.”
The other localities among the largest cities for economic growth were Fort Worth, Texas; Phoenix; Sacramento; and Austin.
Gilbert, Arizona, ranked highest for economic growth among the mid-sized cities, fueled by a 38% GDP growth and a strong response to the needs of local residence.
“One sign that Gilbert is growing beyond expectations is its uptick in infrastructure and housing units,” the report observed. “People are choosing Gilbert as a place to move or grow their family more than they did in 2018. As a result, in 2022, the city’s population was 10% higher. Known for its high quality of life, Gilbert offers excellent schools, parks, and a strong sense of community, making it a desirable place to live and work.”
The other top five localities for mid-sized cities were Jersey City, New Jersey; Chandler, Arizona; St. Petersburg, Florida; and Stockton, California.
Nampa, Idaho, topped the list of small-sized cities for economic growth with a population growth of 15% between 2018 and 2022 and the twin blessings of a vibrant local economy plus the good geographic luck.
“Nampa ranks second among small cities when it comes to unemployment rate, which registered a 4% drop, sitting at 3% in 2022,” the report noted. “The city’s proactive local policies have fostered an environment conducive to business and economic development. Nampa’s proximity to Boise, Idaho, provides additional economic opportunities and resources, making it an attractive location for new businesses and residents.”
Also in the top five for this category were San Bernardino, California; Port St. Lucie, Florida; Murfreesboro, Tennessee; and Surprise, Arizona.
