Top 10 places in the US for business

Herzig · 05-12-2005, 06:04 AM

http://biz.yahoo.com/special/bestplaces05.html

Best Places for Business and Careers

By Kurt Badenhausen
Forbes.com

In a year of rising prices, ten metro areas stand out when it comes to keeping costs down and attracting smart people.

Consumers aren't the only one feeling the pinch at the pump. Energy prices rose 6.6% for businesses last year, along with an 8% jump in taxes. The most expensive state in which to hang your shingle is California, which has 12 of the 20 costliest metro areas in the nation. (Hint: Housing prices had a lot to do with it.) Our seventh annual ranking of Best Places for Business and Careers relies again on Economy.com, the West Chester, Pa. research firm, which helped us weigh business costs (labor, energy, tax and office space expenses) and living costs (housing, transportation, food and other household expenditures). Economy.com also helped assess the education levels of the work force, as well as job and income growth and migration patterns over the past five years. For quality-of-life issues we examined crime rates and used a culture-and-leisure index developed by Bertrand Sperling, a consultant in Portland, Ore. who keeps track of museums, theaters, golf courses, sports teams and the like.

The Top 10

1. Boise, ID

Population: 488,000
Job Growth: 2.4%
Income Growth: 3.2%
Big Employers: Micron Technology, Mountain Home Air Force Base, Hewlett-Packard, St. Luke's Regional Medical Center, Albertsons.

Job growth in Boise ranks number 8 among the 150 largest metro areas during the past five years; employment has been strong across all industries. Residents also have benefited from a steady decline in living costs.

2. Raleigh-Durham, NC

Population: 1,313,00
Job Growth: 0.7%
Income Growth: 1.7%
Big Employers: Duke University, University of North Carolina, IBM, North Carolina State University, GlaxoSmithkline.

Last year Credit Suisse First Boston, Merck and chipmaker Cree announced plans to invest a total $700 million in the area. Two big draws: 39% of the adult population has a college degree and business costs are 12% below the national average.

3. Austin, TX

Population: 1,402,000
Job Growth: 0.6%
Income Growth: 2.4%
Big Employers: University of Texas, Dell, Seton Healthcare Network, IBM, Freescale Semiconductor.

Austin's gross metro product growth has slumped after annual gains of more than 10% in the late 1990s. But look for the economy to rebound to 7% a year through 2008, thanks to one of the nation's smartest work forces.

4. Washington, DC

Population: 5,292,000
Job Growth: 1.8%
Income Growth: 3.9%
Big Employers: Verizon Communications, Safeway, Marriott International, Inova Health System, BAE Systems.

The unemployment rate for the nation's capital is a staggering 7.1%, but a tight labor market in northern Virginia brings the rate for the metro area as a whole down to 3.1%, the fourth lowest in the country.

5. Albuquerque, NM

Population: 764,000
Job Growth: 1.3%
Income Growth: 1.7%
Big Employers: Kirtland Air Force Base, University of New Mexico, Sandia National Labs, Presbyterian Healthcare Services, Intel.

Business costs are the lowest in the country, 27% below the national average. The area's crime rate has fallen faster than the U.S. average, but it still ranks in the bottom quintile and keeps Albuquerque from being ranked on top.

6. Huntsville, AL

Population: 362,000
Job Growth: 1.1%
Income Growth: 1.0%
Big Employers: U.S. Army/Redstone Arsenal, Huntsville Hospital System, SAIC, Boeing, NASA, Cinram International.

Huntsville boasts a lot of highly educated people, including the highest concentration of engineers in the country, at 7.2% of the work force. Housing is still relatively cheap: The median home price of $128,000 is the lowest of any of our top ten places.

7. Fayetteville, AR

Population: 346,000
Job Growth: 3.6%
Income Growth: 5.3%
Big Employers: Wal-Mart, University of Arkansas, J.B. Hunt Transport Services, Pinnacle Foods, Superior Industries.

While not exactly a cultural hub, Fayetteville offers low business costs (11% below the national average) and impressive job growth (ranked number 4). Bentonville's Wal-Mart-$285 billion in sales last year-is driving much of the growth.

8. Norfolk, VA

Population: 1,646,000
Job Growth: 1.4%
Income Growth: 4.1%
Big Employers: Norfolk Naval Station, Northrop Grumman, Sentara Healthcare, Wal-Mart, Riverside Regional Medical Center.

Norfolk's high-tech employment is only 2.5% of the labor force, compared with an average of 7.7% for the rest of the top ten. Incomes remain below the national and state averages, but they've been growing at the eighth-fastest rate in the U.S.

9. Atlanta, GA

Population: 4,541,000
Job Growth: 0.5%
Income Growth: 2.7%
Big Employers: Delta Air Lines, Kroger, Emory University, BellSouth, Publix Super Markets.

Hotlanta continues to attract new residents-from New York, Chicago and Miami, mainly-with a net migration of 340,000 people during the past five years, third largest in the U.S. This year total employment should surpass its early-2001 pre-recession peak.

10. Madison, WI

Population: 454,000
Job Growth: 1.2%
Income Growth: 3.1%
Big Employers: University of Wisconsin, American Family Insurance, Meriter Health Services, Dean Health System, CUNA Mutual Group.

Last year's top-ranked area fell because of slower income growth and higher business costs. Strong job growth has reduced the role of government in Madison's economy over the past 15 years. But the public sector still represents 25% of employment.

Earthling · 05-12-2005, 08:50 AM

Just got back from Boise....great place. 4% unemployment.

ChiefsCountry · 05-12-2005, 09:11 AM

On Fayetteville, they forgot about Tyson. NW Arkansas is growing very fast.

HarryParatestes · 05-12-2005, 09:12 AM

#6 home. ...Best kept secret in the South.

NewChief · 05-12-2005, 09:15 AM

I'd dispute that NWA isn't a "cultural hub." Fayetteville has an awesome nightlife, great arts scene, excellent sports, and plenty of what is traditionally called culture. It's a little smaller than some of the others, but that's one of the awesome things about it. Feels like a small college town, but has a lot of the benefits of a larger city.

munkey · 05-12-2005, 09:18 AM

1. Boise, ID

Population: 488,000
Job Growth: 2.4%
Income Growth: 3.2%
Big Employers: Micron Technology, Mountain Home Air Force Base, Hewlett-Packard, St. Luke's Regional Medical Center, Albertsons.

Job growth in Boise ranks number 8 among the 150 largest metro areas during the past five years; employment has been strong across all industries.

Residents also have benefited from a steady decline in living costs. BULLSHIT!!!! Property taxes have more than doubled in the last 2 years...

Yep....It's called kaliforniafaction..

And it SUCKS!

Herzig · 05-12-2005, 09:50 AM

Quote:

Originally Posted by NewChief

I'd dispute that NWA isn't a "cultural hub." Fayetteville has an awesome nightlife, great arts scene, excellent sports, and plenty of what is traditionally called culture. It's a little smaller than some of the others, but that's one of the awesome things about it. Feels like a small college town, but has a lot of the benefits of a larger city.

Well said and accurate. I thought the same thing when I read it.

**Manila-Chief** · 05-12-2005, 09:59 AM

Quote:

Originally Posted by HarryParatestes

#6 home. ...Best kept secret in the South.

Hey are you connected with H'ville?

NewChief · 05-12-2005, 10:05 AM

Quote:

Originally Posted by Herzig

Well said and accurate. I thought the same thing when I read it.

So is 346,000 now the official count for NWA? Wonder how they got that number? Combined pops of F'ville, Springdale, Rogers, and Bentonville? Wonder if they included Bella Vista and some of the other outlying burbs as well?

Herzig · 05-12-2005, 10:44 AM

Quote:

Originally Posted by NewChief

So is 346,000 now the official count for NWA? Wonder how they got that number? Combined pops of F'ville, Springdale, Rogers, and Bentonville? Wonder if they included Bella Vista and some of the other outlying burbs as well?

I guess so.

HarryParatestes · 05-12-2005, 10:47 AM

Quote:

Originally Posted by Manila-Chief

Hey are you connected with H'ville?

Yuppers. Have lived here since '87.

05-12-2005, 06:04 AM
Herzig Wooooooo Pig Soooooiiiie!!! Join Date: Aug 2000 Location: Northwest Arkansas Casino cash: $9984900	Top 10 places in the US for business http://biz.yahoo.com/special/bestplaces05.html Best Places for Business and Careers By Kurt Badenhausen Forbes.com In a year of rising prices, ten metro areas stand out when it comes to keeping costs down and attracting smart people. Consumers aren't the only one feeling the pinch at the pump. Energy prices rose 6.6% for businesses last year, along with an 8% jump in taxes. The most expensive state in which to hang your shingle is California, which has 12 of the 20 costliest metro areas in the nation. (Hint: Housing prices had a lot to do with it.) Our seventh annual ranking of Best Places for Business and Careers relies again on Economy.com, the West Chester, Pa. research firm, which helped us weigh business costs (labor, energy, tax and office space expenses) and living costs (housing, transportation, food and other household expenditures). Economy.com also helped assess the education levels of the work force, as well as job and income growth and migration patterns over the past five years. For quality-of-life issues we examined crime rates and used a culture-and-leisure index developed by Bertrand Sperling, a consultant in Portland, Ore. who keeps track of museums, theaters, golf courses, sports teams and the like. The Top 10 1. Boise, ID Population: 488,000 Job Growth: 2.4% Income Growth: 3.2% Big Employers: Micron Technology, Mountain Home Air Force Base, Hewlett-Packard, St. Luke's Regional Medical Center, Albertsons. Job growth in Boise ranks number 8 among the 150 largest metro areas during the past five years; employment has been strong across all industries. Residents also have benefited from a steady decline in living costs. 2. Raleigh-Durham, NC Population: 1,313,00 Job Growth: 0.7% Income Growth: 1.7% Big Employers: Duke University, University of North Carolina, IBM, North Carolina State University, GlaxoSmithkline. Last year Credit Suisse First Boston, Merck and chipmaker Cree announced plans to invest a total $700 million in the area. Two big draws: 39% of the adult population has a college degree and business costs are 12% below the national average. 3. Austin, TX Population: 1,402,000 Job Growth: 0.6% Income Growth: 2.4% Big Employers: University of Texas, Dell, Seton Healthcare Network, IBM, Freescale Semiconductor. Austin's gross metro product growth has slumped after annual gains of more than 10% in the late 1990s. But look for the economy to rebound to 7% a year through 2008, thanks to one of the nation's smartest work forces. 4. Washington, DC Population: 5,292,000 Job Growth: 1.8% Income Growth: 3.9% Big Employers: Verizon Communications, Safeway, Marriott International, Inova Health System, BAE Systems. The unemployment rate for the nation's capital is a staggering 7.1%, but a tight labor market in northern Virginia brings the rate for the metro area as a whole down to 3.1%, the fourth lowest in the country. 5. Albuquerque, NM Population: 764,000 Job Growth: 1.3% Income Growth: 1.7% Big Employers: Kirtland Air Force Base, University of New Mexico, Sandia National Labs, Presbyterian Healthcare Services, Intel. Business costs are the lowest in the country, 27% below the national average. The area's crime rate has fallen faster than the U.S. average, but it still ranks in the bottom quintile and keeps Albuquerque from being ranked on top. 6. Huntsville, AL Population: 362,000 Job Growth: 1.1% Income Growth: 1.0% Big Employers: U.S. Army/Redstone Arsenal, Huntsville Hospital System, SAIC, Boeing, NASA, Cinram International. Huntsville boasts a lot of highly educated people, including the highest concentration of engineers in the country, at 7.2% of the work force. Housing is still relatively cheap: The median home price of $128,000 is the lowest of any of our top ten places. 7. Fayetteville, AR Population: 346,000 Job Growth: 3.6% Income Growth: 5.3% Big Employers: Wal-Mart, University of Arkansas, J.B. Hunt Transport Services, Pinnacle Foods, Superior Industries. While not exactly a cultural hub, Fayetteville offers low business costs (11% below the national average) and impressive job growth (ranked number 4). Bentonville's Wal-Mart-$285 billion in sales last year-is driving much of the growth. 8. Norfolk, VA Population: 1,646,000 Job Growth: 1.4% Income Growth: 4.1% Big Employers: Norfolk Naval Station, Northrop Grumman, Sentara Healthcare, Wal-Mart, Riverside Regional Medical Center. Norfolk's high-tech employment is only 2.5% of the labor force, compared with an average of 7.7% for the rest of the top ten. Incomes remain below the national and state averages, but they've been growing at the eighth-fastest rate in the U.S. 9. Atlanta, GA Population: 4,541,000 Job Growth: 0.5% Income Growth: 2.7% Big Employers: Delta Air Lines, Kroger, Emory University, BellSouth, Publix Super Markets. Hotlanta continues to attract new residents-from New York, Chicago and Miami, mainly-with a net migration of 340,000 people during the past five years, third largest in the U.S. This year total employment should surpass its early-2001 pre-recession peak. 10. Madison, WI Population: 454,000 Job Growth: 1.2% Income Growth: 3.1% Big Employers: University of Wisconsin, American Family Insurance, Meriter Health Services, Dean Health System, CUNA Mutual Group. Last year's top-ranked area fell because of slower income growth and higher business costs. Strong job growth has reduced the role of government in Madison's economy over the past 15 years. But the public sector still represents 25% of employment.
Posts: 2,554

05-12-2005, 08:50 AM	#2
Earthling MVP Join Date: Apr 2001 Casino cash: $10008447	Just got back from Boise....great place. 4% unemployment. __________________ AND SOMETIMES IT'S NOT SO EASY ESPECIALLY WHEN YOUR ONLY FRIEND TALKS SEES LOOKS AND FEELS LIKE YOU AND YOU DO JUST THE SAME AS HIM -Jiimi Hendrix
Posts: 5,995

05-12-2005, 09:11 AM	#3
ChiefsCountry The Insider Join Date: Jan 2004 Location: Lake of the Ozarks Casino cash: $2298752	On Fayetteville, they forgot about Tyson. NW Arkansas is growing very fast.
Posts: 49,618

05-12-2005, 09:12 AM	#4
HarryParatestes Starter Join Date: Jun 2003 Casino cash: $10004900	I call... #6 home. ...Best kept secret in the South. __________________ Harry Paratestes: President, Vice President, Treasurer, Seargent -at-Arms, Sole Member, North Alabama Chiefs Fan Club
Posts: 684

05-12-2005, 09:15 AM	#5
NewChief In Search of a Life Join Date: Aug 2001 Location: Fayetteville, AR Casino cash: $9730204	I'd dispute that NWA isn't a "cultural hub." Fayetteville has an awesome nightlife, great arts scene, excellent sports, and plenty of what is traditionally called culture. It's a little smaller than some of the others, but that's one of the awesome things about it. Feels like a small college town, but has a lot of the benefits of a larger city. __________________ In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican. - H. L. Mencken
Posts: 21,758

05-12-2005, 09:18 AM	#6
munkey Veteran Join Date: Aug 2001 Location: Bend Oregon Casino cash: $10007596	1. Boise, ID Population: 488,000 Job Growth: 2.4% Income Growth: 3.2% Big Employers: Micron Technology, Mountain Home Air Force Base, Hewlett-Packard, St. Luke's Regional Medical Center, Albertsons. Job growth in Boise ranks number 8 among the 150 largest metro areas during the past five years; employment has been strong across all industries. Residents also have benefited from a steady decline in living costs. BULLSHIT!!!! Property taxes have more than doubled in the last 2 years... Yep....It's called kaliforniafaction.. And it SUCKS! __________________ "In the time of chimpanzees I was a munkey"
Posts: 3,140