Extensive economic growth in Midland has been recognized by a major national site selection publication. “Business Facilities” magazine has ranked the Midland area second place in their Top 10 Metro Areas in the nation for Economic Growth Potential.
“Business Facilities” based its rankings on project development in specific industry sectors, along with supporting elements such as incentives programs and the availability of a skilled workforce. It also considered a location’s growth strategy, giving extra credit for the diversity of its initiatives and cooperation between business, government and higher education. In addition, it assessed the growth potential of the location’s targeted industries, paying attention to the creation of indirect and direct employment.
Jack Rogers, editor in chief of “Business Facilities,” said that large investments in innovative technology sectors from Midland’s major manufacturers strongly influenced Midland’s ranking.
“We were particularly impressed with the establishment of a solid foothold in solar shingles and advanced batteries, which we expect to be strong growth sectors moving forward,” Rogers said. “Midland has positioned itself well for a transition to emerging industry sectors.”
Scott Walker, CEO of the economic development corporation Midland Tomorrow, was pleased with Midland’s ranking.
“Last year, Midland was ranked third place on the economic growth potential list, and we were only being ranked against metro areas under 200,000 people,” he said. “To be competing without a population benchmark and still move up to second place is a tremendous accomplishment for our region and the great companies located here. It validates the legacy chemical and manufacturing expertise in this region that has allowed us to aggressively pursue these emerging alternative-energy manufacturing sectors. And, the higher ranking this year shows that our area is increasingly being perceived as a place where this advanced-energy manufacturing has a long-term future.”
According to Rogers, Midland’s ranking in the top tier of the Economic Growth Potential rankings is a testament to the community’s strategy for growth, possession of the tools and programs needed to implement that strategy, and proven track record of success.
First place went to Austin, Texas. McKenzie County, N.D., Frederick, Md., and Albany, N.Y., rounded out the top five.
For more information on the rankings, read the article on Business Facilities’ website at http://businessfacilities.com/BFJulyAug11_metro_rankings_noAds.pdf