Grand Rapids MI Only Midwest Metro in Top 25 Best-Performing Cities
Grand Rapids Michigan moved up on the list of Best-Performing Cities this year from #48 to #25, becoming the only Midwest metro on the list. Other Cities in the top 25 include San Francisco (#1), Austin (#2), Denver & Boulder (#13 & 14), Portland (#16), San Diego (#22) and Charlotte (#23).
The Milken Institute is “a nonprofit, nonparitsan economic think tank” that “works to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health.”
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“GRAND RAPIDS–WYOMING, MICHIGAN, vaulted 23 places to 25th place, becoming the only Midwest metro in our Top 25. Strong job growth, which was 7 percent above the national average in 2012-13, coupled with recent wage growth contributed to the metro’s improved showing.
“Building on the existing manufacturing base, jobs are beginning to return to the Grand Rapids-Wyoming metro after a sharp drop in employment during the recession. The metro lost more than 10,000 manufacturing positions between 2008 and 2009, and was still slightly below 2008 levels of sector employment in 2013. However, the machinery manufacturing sector added 1,291 jobs between 2008 and 2013, with half of those jobs added in 2013. The fabricated-metal manufacturing sector also added jobs–637 in 2013–and this recent momentum is creating a sense of optimism.
“Firstronics, which provides electronics manufacturing services and focuses on contract medical-device manufacturing, announced in late 2013 that it would add 110 jobs and committed to a $2.45-million expansion in Grand Rapids.”