Lafayette Shows Strength Through Recession, Tops List Of Mid-Sized Cities
Lafayette has ranked #1 on Area Development's list of 380 U.S. MSAs (Metropolitan Statistical Area) surveyed for the Leading Locations list. Lafayette also finished first on the list for best mid-sized cities and best Southern cities.
The information was released from the Lafayette Economic Development Authority.
The rankings are based on 21 indicators from the Bureau of Labor Statistics, the Bureau of Economic Analysis, and the U.S. Census American Community Survey.
The magazine also calculated rankings for four specific categories:
- Economic Strength
- Prime Work Force
- Recession-Busting Cities
- Year-Over-Year Growth
Lafayette went to the top of the list for mid-sized cities after they looked at workforce and labor factors like:
- Per capita real GDP (Gross Domestic Product)
- Goods-producing employment
- Employment growth
Lafayette ranked 1st for Recession-Busting mid-sized cities (2nd overall) and 8th for Prime Workforce in mid-sized cities.
Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority says,
“Lafayette has seen significant economic growth in recent years and this recognition from Area Development reflects that. Local economic indicators have rebounded and, in many cases, exceeded pre-recession levels. With growing retail sales numbers, shrinking unemployment and a growing workforce and wages— all signs point to the fact that over the next decade Lafayette will increase its status as one of the premier cities in the South.”
The full report can be found at www.areadevelopment.com/LeadingLocations2013. Area Development is one of the leading executive magazines covering corporate site selection and relocation with a circulation of more than 45,000 subscribers.