Greeley MSA Ranks High in Regional Prosperity Index
FOR IMMEDIATE RELEASE
Greeley MSA Ranks High in Regional Prosperity Index—Adding to Recent Positive Economic News
Date: October 5, 2007
Contact: Larry Burkhardt, President/CEO
(970) 356-4565
A newly-released study of the nation’s 345 Metropolitan Statistical Areas (MSA’s) shows that the Greeley MSA, which includes all of Weld County, Colorado, ranks high in several categories measured in the study’s assessment of overall prosperity.
The Aelera Regional Economy Prosperity Index, places Greeley in the 102 ranking in relation to the 345 MSA’s for overall prosperity. The area ranked #38 among the nation’s 144 medium-sized metropolitan areas, with population between 200,000 and 999,999.
Greeley’s ranking within specific study categories is of particular note. The area achieved the #41 ranking for young knowledge workers, defined as the percentage of the population ages 25-34 with a bachelor’s degree or higher. Other rankings of interest:
- #24 in short-term wage growth
- #81 in long-term wage growth
- #54 in short-term employment growth
- #53 in long-term employment growth
The study’s results follow closely on the heels of two other positive reports on the Greeley MSA’s economy. In late September, the U.S. Bureau of Economic Analysis reported that the Greeley metro area gross domestic product grew 27.3% from 2001-2005—stronger than Colorado’s 20.5%, and the nation’s 22% during the same period.
Also in September, the Milken Institute released its 2007 Best Performing Cities Report, which ranked the Greeley MSA as the #29 Best Performing City among the nation’s 200 Largest Metro Areas. Other Colorado MSA’s on the list include Ft. Collins-Loveland as #75, and Boulder at #93. Milken ranked Greeley as #10 in job growth between March, 2006 and March, 2007, and #23 for 5-year job growth between 2001 and 2006.
Information generated by the Colorado Department of Labor and Employment/QCEW provides comparative employment growth data for Weld and neighboring counties between 2005 and 2006:
· Weld--4.3%
· Adams—3.4%
· Larimer--1.8%
· Boulder—1.6%
· Morgan--.4%
“These recent reports indicate that economic opportunity continues to be strong in our area,” said Larry Burkhardt, President/CEO of Upstate Colorado Economic Development. “While certain economic sectors look for a return to stability, notably housing and construction; we are encouraged that overall economic performance as measured by job creation and wage growth continue to outpace much of the country.”
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