Our population growth and salary averages are just two reasons why the Super Region cities’ ranks are well deserved.
According to Forbes, the Super Region is home to three of “America’s Fastest Growing Cities 2014.” Palm Bay, North Port and Orlando made their way onto Forbes’ top 20 list for 2014. Cape Coral also represented the Sunshine State on the top 20 list, making Florida one of only two states (Texas being the other) that had four cities listed.
Calculating the city’s estimated rate of population growth for 2013 and 2014 as well as the year-over-year job growth for 2013 creates the list. The publication also takes the economic growth rate, federal unemployment data, and the median salaries for local degree-holding employees into account. The final numbers give us a list of the fastest growing metro areas in the country.
So how well did the Super Region score?
Orlando ranked No. 9 on the list as the only Florida city to land in the top 10 with the median pay at $55,700. Orlando had a population growth rate at 1.82 percent and an unemployment rate of 5.76 percent in 2013.
Also in the Super Region, Palm Bay ranked No. 15 on the list with North Port trailing behind at No. 18. Palm Bay’s numbers panned out to have a median pay of $63,300 with a 1.53 percent population growth rate and an unemployment rate of 6.6 percent. North Port scored a median pay average of $51,400, a 2013 population growth rate of 1.42 percent and an unemployment rate at 6 percent.
With new developments on the horizon for the Super Region this year, let’s hope the momentum continues as we aim for more Florida placements on next year’s list.
See the full 2014 list of cities here.