Rankings: Best Places For Business And Careers in the US

by ryan | March 20, 2008 at 02:51 pm | 746 views | 5 comments

Forbes is the king of lists. Today they published the ranking of the best places for business and careers in the USA. It comes at a time when economic uncertainty is hitting and job security is becoming a major factor.

In our 10th annual ranking of the Best Places for Business and Careers, the Southeast is home to half of the top 10 for a third straight year. But there is new blood near the top, including Lexington, Ky., Atlanta, Ga., and Richmond, Va. (Spokane, Wash., and Fort Collins, Colo., also made big jumps).

Common themes for the business-welcoming metros include solid job growth, an educated labor supply and low business costs. Interestingly, six of the 10 metro areas are anchored by capital cities; maybe lobbyist spending boosts an economy.

Topping the list for a second straight year is Raleigh, N.C. Business costs are 14% below the national average, and the area boasts one of the most educated labor supplies in the country, with 38% of the adult population possessing a college degree and 12% holding a graduate degree. Raleigh's secret is out, though, as people have been flocking to the area.

Net migration has averaged 25,000 annually in recent years, or 2.4% of the population, seventh highest in the country. The influx of talented young people is good news for big employers in the area like Cisco Systems, GlaxoSmithKline
and SAS Institute.

One metro that made a big jump was Atlanta, which improved to sixth from 25th last year. Its ranking benefited from strong job and income growth and a big reduction in crime. "Hotlanta" features a diverse economy and pro-business environment. Another built-in advantage for big employers like AT&T, Home Depot and IBM is Hartsfield-Jackson, the busiest passenger airport in the world.

Here's the top 10:
1)Raleigh, NC 2)Boise, ID
3)Fort Collins, CO   4) Des Moines, IA
5) Lexington, KY   6) Atlanta, GA
7) Richmond, VA   8) Olympia, WA
9) Spokane, WA   10) Knoxville, TN

Factors that influence this list are business and living costs, education, crime along with job and income growth. Interestingly, there is some overlap with the list of best cities in
Who's Your City which examines the best places based on a wider degree of factors.

What do you think? Is your location of choice grounded on your business/career prospects exclusively? Or do you consider other factors such as accessibility to cultural amenities, architecture, community openness?