Houston jumps up on best performing cities list: Prestigious institute falls hard for H-Town
The strength of the Lone Star State's economy is nowhere more more evident than in the 2012 Best-Performing Cities List, a study recently released by the Milken Institute.
Looking at long-term and short-term job growth, wage and salary growth and high-tech GDP growth, the nonprofit, nonpartisan economic think tank ranked the list accordingly and found that Texas and technology are thriving.
"Texas metros didn't dominate the rankings quite as much as last year, but still took three of the Top 10 positions and seven of the Top 25."
Following the California metropolis of San Jose-Sunnyvale-Santa Clara, Austin-Round Rock-San Marcos took No. 2 on the list, up from No. 4 in last year's ranking. Likely owing much to a burgeoning tech sector, the Central Texas metropolitan area's five-year job growth between 2006 and 2011 is valued at 113.40 (compared to a national average of 100).
Houston-Sugar Land-Baytown ranked the fourth best-performing city on the list, up 12 spots from 2011's list with five-year job growth valued at 109.75 and a wages and salary growth of 115.74 between 2005 and 2010.
"Texas metros didn't dominate the rankings quite as much as last year," the study found, "but still took three of the Top 10 positions and seven of the Top 25."
Among those were Fort Worth-Arlington at No. 10; Dallas-Plano-Irving at No. 14; El Paso at No. 18; Lubbock at No. 20; and San Antonio-New Braunfels at No. 22, a large drop from its top spot in the 2011 ranking. Four of the Top 10 small cities on the 2012 list are also in Texas.