Area Development, a leading economic development magazine for expanding companies, ranked Kokomo high on its list of “Leading Locations” for 2015.
The publication analyzed workforce data for 373 metropolitan statistical areas (MSAs) to determine which U.S. cities are creating and nurturing sustainable economic development.
Among MSAs with populations less than 160,000, Kokomo ranked 15th in the nation and 2nd in Indiana behind Columbus.
“The ranking is another indicator of Kokomo’s robust economy and the momentum our community continues to build,” said Kokomo Mayor Greg Goodnight. “Since 2009, Kokomo has recorded private investments totaling more than $2 billion. The City of Kokomo has focused on strategic investments for infrastructure and developing key assets that add value to our community.”
Kokomo’s current, 15-year low 5.0% unemployment rate, was cited with other economic strengths in the magazine’s economic forecast for the region. The latest unemployment figures show that Kokomo’s remains consistently lower than the state’s.
The report stated, “Over the last year, employment growth has been broad-based, with exceptional growth in high-paying manufacturing and technical jobs.”
Key indicators for continued job growth in Kokomo include the area’s low cost of doing business; affordable housing; cost of living and Chrysler’s expanding capacity.
The full report can be read at http://www.areadevelopment.com/Leading-Locations/Q2-2015/soundest-economic-strength-indicators-MSAs-2283331.shtml