Cities with the Fastest-Growing Economies

by Mahogany WaldonJanuary 9, 2018

Raise your glasses to these fast-growing cities! According to the U.S Bureau of Labor Statistics, these cities had the largest number of employment growth this past year.
A map of cities and how they rank regarding industries.

  1. Grand Rapids, Michigan

    Grand Rapids had a great year and is fast becoming one of the most popular cities in the country. Located on Michigan’s largest waterway, the Grand River, Grand Rapids is fast-growing in more ways than one. This bustling West Michigan city has some booming industries including manufacturing, information technology, life sciences, food processing, and aerospace and defense according to The Right Place. This metropolitan region had a 4.4% increase in employment.

  2. Orlando, Florida

    Orlando had a 4.2% increase in employment according to the U.S. Bureau of Labor Statistics. Orlando is a classic city with its major industries being tourism, hospitality, entertainment, as well as aerospace, engineering, and technology. Orlando is the world’s capital of “modeling, simulation, & training (MS&T)” and the top producing region for engineers in the aviation, aerospace, and defense industries, according to the Orlando Economic Partnership.

  3. Nashville, Tennessee

    The Music City’s fast-growing industries helped to increase its job growth by 4.0%. Nashville’s major industries are tourism, healthcare, banking, transportation, and education according to Forbes. Low taxes and a pro-business regulatory environment are also credited for Nashville’s success, as well as it being an ideal city to live in at the moment due to its popularity according to Nashville’s News Channel 5.

  4. Charlotte, North Carolina (tie)

    Charlotte is one of the most popular cities in the South when it comes to business. Charlotte’s workforce is also growing along with its industries. The city had a 3.7% growth in employment. Charlotte’s major industries include financial services, motorsports and energy. Much of Charlotte’s growth has been in the financial sector, Charlotte is also the second largest banking center in the United States.

  5. Salt Lake City, Utah (tie)

    Tied with Charlotte, Salt Lake City’s fast-growing economy had a 3.7% increase in employment. The city’s top industries include tourism, healthcare, and transportation. Situated as Utah’s capital municipality, Salt Lake City is home to Huntsman Corporation, the city’s only Fortune 500 company. Companies like Overstock and ZCMI (one of the first department stores) are also based in the city. Tourism, conventions, and call centers drive Salt Lake City’s economy as well.

  6. Raleigh, North Carolina (tie)

    This capital city is part of North Carolina’s Research Triangle. Raleigh’s leading industries are education, research, technology, and healthcare, with jobs being steadily created in science and research. Companies based in the city include BB&T, Carquest, and Red Hat. The State of North Carolina is the biggest employer in the city. This past year, Raleigh’s economy had a 3.5% increase.

  7. Riverside, California (tie)

    Riverside’s major industries include government, retail, manufacturing, and education. The City of Riverside offers lots of measures to ensure the economic growth of local businesses including development incentives and hiring and training programs. Although historically the city’s economy was fueled by agriculture, today the non-agricultural labor force is growing and thriving. Riverside’s economy grew by 3.5%.

  8. Jacksonville, Florida

    Jacksonville’s top industries include healthcare and social assistance, warehousing, manufacturing, food services and accommodation, retail, finance, and insurance. The city had a 3.4% increase in its employment. Much of its growth has been due to economic development throughout the City of Jacksonville, which focuses on broadening the tax base and creating opportunities for the advancement of the workforce and local small business enterprises.

  9. Austin, Texas (tie)

    Austin has an unemployment rate of 2.9% compared to the country’s unemployment rate of 5.2%. The city’s employment rate has increased by 3.3%. Austin’s top industries include professional, scientific, and technical services, healthcare, educational services, and retail. Austin is also a major center for technology and has a lot of high-tech employers in the city.

  10. San Francisco, California (tie)

    San Fransisco has one of the fastest-growing economies in the country. The region’s economy has been fundamentally transformed by the technology industry springing from Silicon Valley. The employment rate in San Francisco grew 3.3%. The city’s economy is a center for technology, biotechnology, and medical research.

If you have plans to move this year, consider one of these fast growing economies. Find your new home today!

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About The Author
Mahogany Waldon
Mahogany is a Content Marketing Coordinator for homes.com. In her spare time, Mahogany enjoys reading, writing poetry, blogging, traveling and loves a good southern idiom. Mahogany is also a certified Reiki practitioner and enjoys all things supernatural.

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