Visalia Ranks Top in the Valley for Economic Strength
Visalia continues to stand out and was recently featured in the industry publication Area Development Magazine. Noted for our "Prime Workforce", "Economic Strength" and "Year-Over_Year Growth", Visalia rose above the competition, ranking the highest out of Central Valley regions.
In Area Development Magazine's study, metropolitan statistical areas (MSAs) were ranked based on their performance in four key categories: “Prime Workforce”, “Economic Strength”, “Year-Over-Year Growth” and “Five-Year Growth”.
Overall, Visalia-Porterville MSA (Tulare County) ranked 64th (out of 394 across the country), a vast improvement from its ranking of 289th in 2016.
In comparison, Fresno ranked 105th, Modesto ranked 152nd, and Bakersfield ranked 374th. In addition, Visalia also ranked higher than these other regions in terms of Prime Workforce Indicators which include the number of workers aged 18-44, their education level, total inward migration of these high-value workers into the community, and wages.
In terms of 2017 Economic Strength Indicators, which include per capita real gross metropolitan product (GMP), manufacturing/goods-producing employment, employment net growth, and local area unemployment rate changes, Visalia-Porterville MSA ranked 32nd making it the top-ranked Central Valley community.
Visalia ranked 5th in terms of 2017 Year-Over-Year Growth which measured employment growth net change as a percentage of population, local area unemployment change, manufacturing/goods-producing employment net change as a percentage of population, and per capita real GMP rate change.
According to the study, “these indicators are useful in identifying those cities (and their industries) that are ‘hot’ in terms of economic growth.” Here's to 2018 being another strong year.
Area Development Magazine, according to the publication, is considered the leading executive magazine covering corporate site selection and relocation.