Greater Peoria ranks high on Area Development’s annual “Leading Locations” list. The list ranks 365 MSA’s to identify places that are thriving in the midst of adversity and prospering while others are struggling. The report points out that the MSA’s studied have fewer people working now than 5 years ago, however prosperity is evident and these leading locations have been able to rebound from the recession faster than others.
Peoria ranked #20 on the list among Midwestern MSA’s (regardless of size), #34 among midsized MSA’s and #78 among all US 365 MSA’s studied. In general, Midwestern locations did better than coastal locations. The report points to several potential reasons for that success including the “comeback” of U.S. manufacturing, an increase in global export activities and growth of the technology sector. Greater Peoria has experienced each of these.
The methodology behind the list uses 23 indicators including workforce growth, migration rates, unemployment levels, economic strength, job growth, GDP, wage and salary growth and more. Learn more about this list and the methodology at www.areadevelopment.com/leadinglocations2012.
Area Development magazine is considered the leading executive magazine covering corporate site selection and relocation. Area Development is published bi-monthly and has more than 45,000 executive subscribers.