Wednesday, December 1, 2010

Austin and Texas DOMINATE Economic Recovery Rankings!

According to a report by the Brookings Institution Metropolitan Policy Program, Austin was the highest-ranked U.S. city for recovery from the recession. Not only that, Austin ranked #26 in the entire world for economic recovery! Not bad. Austin pride in full effect.

The study by the Brookings Institution Metropolitan Policy Program ranks 150 cities: 50 in the United States, 50 in Europe, and 50 other cities scattered from the rest of the world. The fastest recovering cities are outside of the United States, with only Austin, Texas as the only U.S. city inside of the top 30 in the world. The fastest recovering cities, in order, are Istanbul, Turkey; Shenzen, China; Lima, Peru; Singapore; and Shanghai, China.

The report found that income and job growth in the metro areas are performing better than their nation's average. Large cities are leading the global recovery from the 2007-2009 recession. The report examined incomes and employment back to 1993 and ranks the metros in three segments: pre-recession (1993-2007), recession (2007-2009), and recovery (2009-2010).

When looking at the list, it is easy to see why Texans are so content. Four Texas metropolitan areas - Austin, Dallas, Houston, and San Antonio - took command of the top 15 U.S. Cities list. Dallas ranked #4 (#39 in world), San Antonio #11 (#51 in world), and Houston ranked #15 (#61 in world) in the U.S.