Lafayette Named Best Mid-Sized City For Economic Growth
(KPEL) -- The honors keep pouring in for the Hub City as Area Development Magazine has named Lafayette number one among the best mid-sized cities and best southern cities for economic and job growth.
On the list of 100 leading locations throughout the country, Lafayette ranked number 3 overall.
The magazine cited the city's economic strength and "recession-busting factors" as reasons for the high rankings.
"Lafayette has seen significant economic growth in recent years and this recognition from Area Development reflects that," says Gregg Gothreaux, President and CEO of the Lafayette Economic Development Authority. "Local economic indicators have rebounded and, in many cases, exceeded pre-recession levels. With growing retail sales numbers, shrinking unemployment and a growing workforce, all signs point to the fact that over the next decade Lafayette will continue to be one of the premier cities in the South and other communities will strive to emulate our successes."
These accolades are nothing new for Lafayette residents. Forbes Magazine named the city the "Best Mid-Sized City for Jobs" in 2012. Also this year, Sentier Research Group reported Lafayette had the fastest growing income among all metropolitan areas. The city's jobless rate of under five percent is the lowest in the state.