2022 Most Dynamic Metros PublicationCopyrighted
April 17, 2023
City of Dubuque Action Items # 03.
City Council Meeting
ITEM TITLE: 2022 Most Dynamic Metros Publication
SUMMARY: City Manager providing a copy of Heartland Forward's 2022 Most
Dynamic Metros publication.
SUGGESTED Suggested Disposition: Receive and File
DISPOSITION:
ATTACHMENTS:
Description Type
Supporting Documentation Supporting Documentation
MARCH 2O23
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AUTHOR BIOS
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Jackson Li
Jackson Li graduated from the University of Wisconsin -Madison where he majored in economics and
attended Johns Hopkins on the Washington, D.C. campus, having received his Master's in Applied
Economics. While working on his masters, Li contributed to scholarly reports, including: U.S. Foreign Policy
Toward Latin America During the Pandemic Outbreak, The Effects of Unemployment Benefits During the
Pandemic and Sports Team Performances v. GDP Per Capita Growth.
Jonas Crews
In his role, Jonas directs Heartland Forward's entrepreneurship -focused research projects, co-authors
reports and conducts data analysis. Prior to joining Heartland Forward, Jonas was a senior research
associate for the Federal Reserve Bank of St. Louis, where he conducted spatial analysis, created surveys
and co-authored peer -reviewed journal articles, reports and blog posts on housing, trade, agricultural
finance, and the macroeconomy. Jonas holds a Bachelor of Science in economics with a focus on
quantitative analysis from Auburn University. He is on the advisory board for the Center on Rural
Innovation's Rural Opportunity Map. In his free time, Jonas is a volunteer mountain biking coach for a
Bentonville -area junior high school.
Ross DeVol
Since joining Heartland Forward in 2019, DeVol has raised the profile of Heartland Forward through media
engagement with quotes in the New York Times, Wall Street Journal, the Economist and Axios, op-eds in
the Dallas Morning News, Milwaukee Journal Sentinel, Chicago Tribune and Des Moines Register as well as
TV appearances throughout the heartland. DeVol is a former chief research officer for the Milken Institute,
an economic think tank headquartered in California, where he spent nearly 20 years. He oversaw research
on international, national and comparative regional growth performance, access to capital and its role in
economic growth, job creation and health -related topics. He has been ranked among the "Superstars of
Think Tank Scholars" by International Economy magazine.
Katie Milligan
Katherine (Katie) Milligan brings the power of public policy to building entrepreneurial communities.
Born and raised in the Heartland, she currently serves as the Program Manager for Innovation and
Entrepreneurship for Heartland Forward. Katie previously served as the Chief of Staff for Start Co., a
venture development organization based in Memphis, TN and as the Director of Small Business and
Entrepreneurship for the Delta Regional Authority (DRA), a federal agency that works to improve
regional economic opportunity in the eight -state Delta region. While at the DRA, Katie launched the
Delta Entrepreneurship Network, a competitive fellowship program to identify entrepreneurs and
entrepreneurship support organizations in the Delta. Katie has served as a US delegate at the Global
Entrepreneurship Congress and is currently serving as the Board Chair for the Clinton School of Public
Service Alumni Board. Katie has a B.A. in political science from the University of Mississippi and a M.P.S.
from the University of Arkansas Clinton School of Public Service.
2 HEARTLAND FORWARD
CONTENTS
ExecutiveSummary...........................................................................................................................................5
Introduction...........................................................................................................................................................7
Methodology.........................................................................................................................................................8
DataTrends............................................................................................................................................................10
Top -ranked Metros........................................................................................................................................10
Motor Vehicle Parts Manufacturing......................................................................................................15
The Comeback of Large Heartland Metros
......................................................................................18
InnovationHubs.............................................................................................................................................20
OutdoorRecreation Hubs.........................................................................................................................23
Oiland Gas.......................................................................................................................................................26
Conclusion..............................................................................................................................................................28
Endnotes..................................................................................................................................................................29
Appendix.................................................................................................................................................................31
HEARTLAND ABOUT HEARTLAND FORWARD
FORWARDHeartland Forward's mission is to improve economic performance in
AN INSTITUTE FOR ECONOMIC RENEWAL the center of the United States by advocating for fact -based solutions
to foster job creation, knowledge -based and inclusive growth and
improved health outcomes. We conduct independent, data -driven
research to facilitate action -oriented discussion and impactful policy
recommendations.
The views expressed in this report are solely those of Heartland Forward.
HEARTLAND FORWARD 3
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4 HPARTLAND FORWARD
EXECUTIVE SUMMARY
America's top metropolitan areas are joined by at
least one common thread - an affinity for innovation.
Whether their business is building cars or showing off
their natural wonders, these thriving areas are meeting
the future with open arms and a cutting -edge mindset
Larger areas consistently turn innovation into firms
where high -paying jobs support an enviable quality
of life. Smaller metros offering access to prime
outdoor amenities and tourism also are performing
well, and several long -stagnant heartland giants are
on the rebound behind a fresh focus that emphasizes
innovative capacity and lifestyle over industrial
recruitment.
Heartland Forward and others have hypothesized that
global supply chain issues would cause companies
to recalculate the cost of overseas manufacturing',
and our index supports that hypothesis: a group of
American car makers is experiencing an economic
renaissance —in many cases attributable to electric
vehicles and supplies of new components, such
as batteries. Intel has broken ground on two new
computer -chip plants in New Albany, Ohio, just east of
Columbus —the country's first chip -production facility
east of the Mississippi River. The most significant
development over last year involves oil -dependent
metros, where elevated gas prices have reversed the
fortunes of communities hardest hit at the outset
of the COVID-19 pandemic. Only seven metros
experienced positive job growth from 2019 to 2020;
however, 367 posted gains in 2021, as the economy
regained much of what was lost a year earlier as the
world grappled with the pandemic.
Which metros occupied our top five positions?
San Jose -Sunnyvale -Santa Clara, California (Silicon
Valley), retained the top spot based upon our metrics,
largely due to its No. 1 rating for young -firm knowledge
intensity and bold environment that includes serial
entrepreneurs and venture capital.
Elkhart -Goshen, Indiana is raking in the proceeds of
the rapid expansion in travel, tourism and outdoor
recreation and comes in second highest among
heartland metros. Record -setting sales in 2021
confirmed its position as the recreation vehicle (RV)
capital of the world and boosted its gross metro
product growth by 25.3%, best in the nation.
San Francisco -Oakland -Berkeley, California, rates third.
It has the nation's densest high-tech service economy
and the second -highest five-year average annual wage
growth, which stands to reason given that 36.7% of its
young -firm labor force holds a bachelor's degree or
higher.
Austin -Round Rock, Texas, ranks fourth and is the
heartland's top tech hub. Its business -friendly and
forward -thinking environment make this fast-growing
metro —employment swelled by 7.8% between June
2021 and June 2022—highly desirable to innovative
firms.
The Villages, Florida, is rated fifth overall. It is a
retirement mecca where rapid growth is fueled by
construction and health-care expansion to meet the
needs of the growing retiree population. The Villages
boast the fastest five-year average annual employment
growth in the nation.
Table ES1 provides the top 25 metros for this year.
Other observations from that list include:
• Florida has five metros in the top 25, leading all
states.
• The Mountain states have eight metros in the Top
25, led by Utah with three.
• Heartland states claim three of the top six metros
and four of the top 11.
• More than half of the top 25 have benefitted from
a post-COVID recovery in tourism and outdoor
recreation.
• Roughly one-third of the top 25 are innovation
hubs.
HEARTLAND FORWARD 5
INTRODUCTION
The 2022 edition of Most Dynamic Metropolitans
analyzes the economic performance of America's
metros as they restabilize in a post-COVID-19
world. By tracking employment, income, economic
production and young firms, this index captures both
historic and forward -looking indicators that enable
cities to evaluate policies impacting local economic
performance. Additionally, we provide insights
regarding industrial and contextual trends that can
inform policy development in underperforming
metropolitans.
The characteristics of successful metros have changed
in some ways over the past year; in other ways, they
have not. Smaller metros offering access to high -
quality outdoor amenities continue to perform well,
and America's innovation hubs are mainstays in the
upper echelon of our rankings. Even long -dormant
heartland giants are among the most -improved
metros, as their economic development strategies
focus more on innovative capacity and quality of life.
Heartland Forward and others have hypothesized that
global supply chain issues would prompt companies
to recalculate the cost of offshore manufacturing
and our index supports that hypothesis: A group of
American car -manufacturing hubs is experiencing an
economic renaissance. The most significant deviation
from last year is among oil -dependent metros, where
elevated gas prices have reversed the fortunes for the
communities hardest hit early on in the pandemic
period.
Overall, our data indicates that the past two years
brought very different economic conditions than 2020.
Only seven metros experienced positive job growth
from 2019 to 2020, but 367 posted gains from 2020
to 2021. And while inflation has hampered economic
recovery from the 2020 recession, 357 metros still
added jobs from June 2021 to June 2022.
Focusing on the top metros in our 2022 index, San
Jose -Sunnyvale -Santa Clara, California, is the most
dynamic metropolitan for the second year in a row.
Its Silicon Valley counterpart, San Francisco -Oakland -
Berkeley, is again third. Neither should come as a
surprise since those areas thrive on innovation. What
may be surprising is that Elkhart -Goshen, Indiana —
known as the RV Capital of the World —continues to
support America's re-established love of road trips by
supplying the requisite teardrop campers, camper vans
and motor homes. Austin -Round Rock -Georgetown,
Texas, has improved to fourth and continues to earn
media predictions as the nation's next great innovation
hub. The Top 25 again are dominated by the Mountain
West and Pacific Northwest, although not quite as
heavily as 2021; the combined region has 11 of the Top
25 in 2022 versus 15 in 2021.
The most improved metro is Kahului-Wailuku-
Lahaina, Hawaii, which saw significant short-term
growth following the reopening of the Hawaiian
tourism industry. The second -most improved metro
is Springfield, Ohio, which leads a group of rising
heartland automotive manufacturers. Meanwhile,
the automotive powerhouse that is Detroit -Warren -
Dearborn, Michigan, experienced the 151h-largest jump,
reflecting the rising tide of the biggest heartland
metros. In the southern heartland, communities such
as Chattanooga, Tennessee -Georgia, are improving
because they have created a quality of life competitive
with anywhere in the country.
In summary, the 2022 edition has four heartland
communities within the Top 25, including Elkhart -
Goshen at No. 2 overall. Seven heartland metros are
in the Top 50, including 3411-ranked Fayetteville -
Springdale -Rogers, Arkansas; and 17 landed among the
Top 100. This reflects marked improvement over last
year's edition, when Austin -Round Rock -Georgetown,
Texas, was the only heartland metro in the Top 10, and
there were only four heartland metros in the Top 50
and 17 in the Top 100.
As with previous reports in this series, we first describe
our methodology and then provide a more detailed
look into themes that emerged from the analysis. Not
only do readers get a look at the industries that are
leading the post-COVID economy, but we attempt
to identify what these cities are doing to foster the
highlighted results. Our hope is that these case studies
and metrics provide communities with insights to
advance their local economies.
HEARTLAND FORWARD 7
METHODOLOGY
The 2022 Most Dynamic Metropolitans are ranked
using values calculated from six economic growth
measures for all metropolitan statistical areas in the
United States :
• Average annual wage
• Employment
• Real gross domestic product (GDP; measured in
2012 dollars)
• Per -capita personal income
• Share of total employment at firms ages 5 years
and under (young -firm employment share)
• Share of employees at young firms with a
bachelor's degree or higher (young -firm knowledge
intensity).'
We then separate these measurements into time -
sensitive categories, such as short- and medium -term
growth, to look at the economic performance of each
metropolitan statistical area (MSA) in the nation.
Short-term growth is defined by annual changes in
our metrics like 2020-21 real GDP growth, 2020-21
employment growth, 2020-21 average annual wage
growth, and employment growth over a 12-month
period from June 2021-June 2022. The medium -term
economic growth measurements are defined as five-
year changes: 2016-21 employment growth, 2016-21
average annual wage growth and 2016-21 real GDP
growth. The 2021 level of per -capita personal income
is also a medium -term economic growth measurement
because it represents the stock of all previous welfare
improvements.
Lastly, we include the forward -looking indicators
of young -firm employment share and young -firm
knowledge intensity. Young -firm employment share
allows us to understand the ability of entrepreneurs
to start new firms in a region, while young -firm
knowledge intensity provides insights into potential
innovation driven by educational attainments within
these young firms.4
The 2022 rankings utilize the most recent MSA
delineations by the federal Office of Management and
Budget (OMB); Bulletin No. 20-01 and its delineation
file as released in March 2020. Data availability allows
us to analyze 382 MSAs for the 2022 rankings. Bulletin
20-01 denotes 384 metropolitan statistical areas in the
United States. (Cape Girardeau, Missouri -Illinois, and
St. Joseph, Missouri -Kansas, are the only two metros
excluded due to a lack of young -firm data from the U.S.
Census Bureau. They were excluded a year ago for the
same reason.)
We also implemented regional price parity (RPP)
from the Bureau of Economic Analysis (BEA) to
adjust per -capita personal income and average
annual wages to control for cost -of -living variations.
Specifically, nominal per -capita personal income and
average annual wages are divided by regional price
parity corresponding with each MSA. This adjustment
demonstrates whether an area's prices of goods and
services are above or below the national average. By
using RPP in our calculations, we can successfully
account for inflation and purchasing power for each
MSA.
All data gathered and calculated from the Bureau
of Labor Statistics (BLS), the Bureau of Economic
Analysis (BEA) and the Census Bureau are summarized
as a standardized z-score.
This z-score is useful for several reasons. Each MSA
will have a unique value indicating its proximity to
the sample mean. Z-scores also have an intuitive
interpretation: the value indicates a measurement's
distance from the mean in standard deviations. A
positive z-score value for each measurement generally
indicates a better economic performance against the
average. MSAs are ranked according to their average
z-score across all metrics. Figure 1 shows how the
z-score is computed for a given metric in each MSA.
8 HEARTLAND FORWARD
FIGURE 1: HOW A Z-SCORE IS COMPUTED IN EACH MSA FOR A SPECIFIC METRIC
(x-mean)
Z-Score =
standard deviation
X corresponds to a particular
community's value of a
specific metric
TABLE 1: METRICS BY DATA SOURCE
Measurements Table
Measure
Time Period
Source
Young Firm Employment Ratio
2020
Census Bureau
Young Firm Knowledge Intensity
2020
Census Bureau
Per -Capita Personal Income
2021
Bureau of Economic Analysis
Medium -Term Job Growth
2016-2021
Bureau of Labor Statistics
Short -Term Job Growth
2020-2021
Bureau of Labor Statistics
Short -Term Job Growth Momentum
Jun. 2021-Jun. 2022
Bureau of Labor Statistics
Medium -Term Average Annual Pay Growth
2016-2021
Bureau of Labor Statistics
Short -Term Average Annual Pay Growth
2020-2021
Bureau of Labor Statistics
Medium -Term GDP Growth
2016-2021
Bureau of Economic Analysis
Short -Term GDP Growth
2020-2021
1 Bureau of Economic Analysis
HEARTLAND FORWARD 9
DATA TRENDS
TOP -RANKED METROS
San Jose -Sunnyvale -Santa Clara, California (Silicon
Valley) retained the top spot from a year ago. It has a
unique combination of technology anchor firms and
the ability to launch and scale knowledge -intensive
companies that can be its future champions. Nearly
40% of employees at firms less than six years old
hold bachelor's degrees —best in the nation. Its serial
entrepreneurs have access to venture capital (VC)
and all the support services needed to excel. Despite
a decline in VC placements in 2022, Silicon Valley
received $1 for every $3 invested across the nation.
The Valley even managed to benefit from remote work,
even though it was a victim of the disintermediation.
Deel, a human resources management platform
firm serving companies with remote workers spread
globally, raised $500 million in investments in less
than a year. Recent tech layoffs do not portend a
retrenchment in long-term prospects, as the industry is
inherently volatile.
Elkhart -Goshen, Indiana is a beneficiary of rapid
expansion in travel, tourism and outdoor recreation
and comes in second—best among heartland metros.
Elkhart is known as the recreational vehicle (RV)
capital of the world and was seeing strong growth in
demand even before the pandemic that only increased
as outdoor recreation was substituted for other forms
of travel and tourism. RV sales hit a record in 2021,
buoying a local economy where motor vehicle body
and trailer manufacturing represent 26.6% of total
metro employment, which is more than 200 times as
important to its economy as to the nation. Gross metro
product rose by 25.3% (highest in the nation), while
employment jumped 10.1% (third highest nationally). As
RV sales slowed in 2022, unemployment edged up to
2.1% but remains one of the lowest measures in the U.S.
The RV local supply chain is extensive and highly
integrated and, compared with other manufacturing
operations, accounts for 51.5% of employment in
Elkhart versus 8.5% for the nation —highest of any
metro area. The downside is that Elkhart's economy is
very cyclical. Community leaders are working to upskill
the workforce and address labor shortages by forming
the RV Technical Institute.
Launch Elkhart is an initiative to support the formation
and growth of new businesses, and to diversify the
area's economy. Frontier Communications is providing
high-speed internet access to many startups in hopes
of boosting entrepreneurial success. Social capital
in the area is deep, built by established trust and
cohesion.
San Francisco -Oakland -Berkeley, California ranks
third on the strength of being the world's densest high-
tech service economy. Recent layoffs at Twitter, Meta,
Salesforce and other softer -tech service giants only
moderately dented its growth rate. Remarkably, San
Francisco had the second -highest growth in average
annual pay from 2016-2021 and is eclipsed only by its
neighbor to the south (Silicon Valley) in percentage of
employees (36.7%) at young firms with a bachelor's
degree or above. Biotechnology remains a major
component of the economy, thanks in part to the area
being home to Genentech, the world's first biotech
firm.
Austin -Round Rock, Texas is the heartland's top tech
hub and comes in fourth overall in our Most Dynamic
Metros. Austin is a dual threat to competing areas,
combining a business -friendly environment attractive
to highly innovative firms from the coasts (mainly
Silicon Valley) with a dense entrepreneurial ecosystem
of its own. Austin is among eight metros that rank in
our top 60 on share of employment at young firms
and for employee percentage at those firms with a
bachelor's degree or above. Its employment growth of
7.8% was third -fastest overall between June 2021 and
June 2022.
The maturation of Austin's entrepreneurial ecosystem
is exhibited by the doubling of venture capital
investments in 2021, when placements reached $6.6
billion, a modest decline in 2022 in step with the
national pattern. One prominent startup is Wheel, a
multichannel digital health care platform providing a
comprehensive patient -experience system. Professional
and business services jobs —among the highest
paying —recorded growth of 6.9% over the most recent
12-month period.
Tesla is undergoing a massive expansion, with
employment reaching 10,000 in 2022. Tesla's target
is to produce 500,000 electric vehicles in 2023 at its
Gigafactory and become the largest power cell factory
for the firm. Samsung, with nearly 9,000 employees
in Austin, has announced a new $17 billion chip plant
in Taylor and has discussed the possibility of 11 more
plants. Austin is a talent magnet with net migration
of 35,900 in 2022—representing 1.5% of the existing
population base. It has one of the nation's highest
levels of educational attainment, with 47% of its
population 25 and older holding at least a bachelor's
degree.
The Villages, Florida was fifth overall on the strength
of rapid population growth among retirees. In fact, it
leads our rankings in terms of portion of individuals 65
and older —more than 50% of its total population. Yet,
at 28%, it had the fastest employment growth in the
nation between 2016 and 2021. Construction and health
care have seen exceptional growth, as well as retail
expansion.
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Midland, Texas rebounded from 381h to sixth,
courtesy of a recovery in oil prices and resurgence of
exploration. However, the upturn in energy fortunes has
not translated into a commensurate surge in jobs and
overall economic activity. Producers have redirected
much of the improved cash flow towards debt
reduction and share repurchases rather than tapping
new reservoirs. Nevertheless, Midland saw job growth
of 9.1% from June 2021 to June 2022—best across all
metros —and even surpassed Silicon Valley with the
highest per capita income when adjusted for regional
price parity.
Midland is more closely tied to the fortunes of the oil
industry than any other U.S. metro area. It is capital
of the Permian Basin, which produces one in five
barrels of oil in the country. Support activities for
mining, along with oil and gas extraction, are 102.6
and 86.6 times more concentrated than for the nation
overall, respectively. Mining represents 23.2% of total
employment in Midland and has average annual
earnings of $173,000. As oil prices began to recover
and sanctions were placed on Russian oil exports,
demand for Permian Basin production has climbed. In
January 2023, the basin produced a record 5.6 million
barrels of oil per day, and improved transportation
has the Permian exerting more influence on global oil
pricing than ever before.
Other important sectors include health care, ranching
and agriculture. Economic development officials
are attempting to diversify Midland's economy, as
aerospace is being targeted for expansion. It has a
niche in testing and qualification of payloads, space
and pressure suits, and trains new flight crews. Midland
has a high level of entrepreneurship, ranking sixth in
the proportion of jobs at firms in business less than six
years.
Boulder, Colorado has a unique combination of
attributes propelling it from ninth in 2021 to seventh
this year. It is home to the University of Colorado,
Boulder, and has several other research centers, along
with a renowned entrepreneurial culture and scaleup
ecosystem. Boulder ranks fourth in knowledge intensity
of its young firms and 35th overall in proportion of jobs
that are at young firms. Boulder has operations of
medical technology firms such as Medtronic, along with
other tech firms like Google, Seagate Technology and
IBM. High-tech jobs are nearly four times as important
in Boulder as in the nation as a whole. Access to
premier outdoor recreation bolsters the quality of life
and attractiveness of the region. Its steady economic
performance is underscored by its posting of the third -
fastest growth in average annual pay in the nation over
the past five years.
Naples-Immokalee-Marco Island, Florida joins our
Most Dynamic Metropolitan list at No. 8. However, the
metrics in our evaluation system all precede Hurricane
Ian making landfall in Florida on Sept. 28, 2022, causing
widespread devastation in this area. Naples' economy is
highly dependent on the leisure and hospitality sector.
A mixture of scenic beaches and well-known wetland
forests makes it a haven for tourists and wealthy
retirees. High-tech firms are growing in the region,
including Arthrex, a developer of advanced medical
devices and surgical techniques and one of the area's
biggest firms.
Utah metros Provo-Orem and St. George log in at
ninth and loth, respectively. Provo-Orem has been
among the nation's top performers over the past two
decades. Home to Brigham Young University, which
produces many graduates in STEM fields, the area
now has double the concentration of high-tech jobs
as compared with the nation. Provo's economy is
entrepreneurial, ranking ninth in proportion of total
jobs at young firms and 481h in knowledge intensity.
St. George benefits from Zion National Park, Red Bull
Ramage (a premier mountain -biking event) and other
world -class outdoor recreation options, resulting in
a distinctive tourism setting. Its economic fortunes
benefited from remote work during COVID-19, but
strong demand drove housing prices above the national
average.
Nashville -Davidson -Murfreesboro -Franklin, Tennessee
joins its heartland neighbors in enjoying a dynamic
economy at 11th overall, a significant jump from 95th
last year. As a tourism and entertainment center, its
economy was hit hard by the pandemic, as many
venues closed. Nashville has a mix of educational
assets (Vanderbilt University and its medical center),
health care facilities, auto manufacturing plants
(Nissan and General Motors) and logistics and supply-
12 HEARTLAND FORWARD
p
chain fulfillment (think Amazon) that are propelling
employment and wage gains. Nashville recorded the
fourth -highest growth in real GDP in 2021 and was 14th
in job growth between June 2021 and June 2022.
The area has benefited from a number of corporate
relocations and expansions over the past decade —a
testament to its business -friendly environment and
talented workforce. An indicator of that talent is that
42% of its adult population hold a bachelor's degree
or above. Professional and business -service jobs are
surging, with robust growth in management, scientific
and technical consulting services.
Nashville's medical and health-care complex is among
the largest in the nation. Greater Nashville has 250
health care firms; 17 are publicly traded, directly and
indirectly employing 250,000 people while generating
$46 billion (one of every three dollars in the region)
in local economic impact. Software giant Oracle has
announced a $1.2 billion investment that is expected to
create more than 8,000 jobs in the metro area over the
next decade.
Logan, Utah -Idaho remains in the upper tier of
performers this year at 12t". Utah State University is a
major asset, and the area's low business costs provide
a strong underpinning for its economy. Economic
drivers range from dairy farming to biotech, with Piece
Biotechnology being a major employer. Logan is home
to Space Dynamics Laboratory, HyClone Laboratory
and TMM Technologies. Although wages remain
relatively low overall, the area has posted the nation's
seventh -fastest growth in average annual pay over the
past five years.
Reno, Nevada, at 131", has long been dependent on
gaming and related tourism. However, its economic
structure is changing, as Tesla built a Gigafactory
and Google established a data center in recent years.
Logistics and distribution are becoming important
components of the local economy. Average annual
pay growth ranked 10th in the nation over the past five
yea rs.
Seattle -Bellevue -Everett, Washington is consistently
among the top innovation hubs in America and is 141"
this year. The University of Washington is one of the
most advanced public universities in the world. Home
to ever-growing Microsoft, the metro area now has
more than 78,000 employees in software publishing.
Amazon has 80,000 employees in the region, and
Boeing still has major aerospace operations there. The
entrepreneurial ecosystem is quite diverse, contributing
to a national rating of 131" in young -firm intensity.
HEARTLAND FORWARD 13
Bend, Oregon, at 15t", is another smallish outdoor
recreation hub. It ranks eighth in real GDP growth over
the past five years and 191" in young -firm employment
share. Well -crafted and articulated strategic planning
has led to expansion in aviation/aerospace, automotive,
biomedical, brewing, IT hardware (including data
centers) and software.
A recovery in travel and tourism propelled Ocean
City, New Jersey (16t"), Punta Gorda, Florida (17t")
and North Port -Sarasota -Bradenton, Florida (181") to
rankings among the national leaders. Ocean City took
advantage of its proximity to Northeast population
centers and saw a rebound in its heavily tourism -
dependent economy. It posted the fourth -largest gain
in employment in 2021 and continued that trend in
2022. Punta Gorda's growth has been fueled by retirees
moving in and tourists returning after COVID. Health
care has witnessed strong gains. Although much larger
than Punta Gorda, North Port's economy is driven by
the same features.
Raleigh -Cary, North Carolina is a rapidly rising tech
hub that sits 19t" this year. The Research Triangle has a
diverse set of IT firms, along with biopharmaceutical
and scientific research operations. SAS Institute is a
homegrown statistical software leader. Low business
and living costs relative to other coastal tech hubs
keep it among the national leaders in job creation.
Boise City, Idaho, although not as well established as
Raleigh, is an emerging tech hub and ranks 201". Micron
Technology has long been a major tech employer
in the community and has repositioned itself as a
research and development center rather than just a
chip manufacturer. It has been a major beneficiary of
remote work. Boise City has been a steady generator
of jobs, only experiencing a decline of 0.3% in 2020
and ranking fourth overall over the past five years. In -
migration rates are among the highest in the nation.
Las Vegas -Henderson -Paradise, Nevada is the gaming
and tourism capital of the country and is 21s' in our
rankings. Las Vegas has benefited from a substitution
of domestic travel for international visitation.
Additionally, it is experiencing a boom in e-commerce-
related logistics and warehousing.
Boston -Cambridge -Newton, Massachusetts climbs
back among the Most Dynamic Metros at 22nd behind
its strength as a long-standing innovation hub. MIT and
Harvard are among institutions of higher education
that call the greater metro area home. Boston has
leading IT hardware and software firms, the top life -
science cluster in the nation and a large financial-
services sector, all of which provide high -paying jobs.
Salt Lake City, Utah has reached elite status among
tech hubs, placing 23rd in our rankings. Although costs
have risen in recent years, they remain favorable in
comparison to West Coast metros and have helped the
area land expansion facilities of tech firms. Salt Lake
is 171" in young -firm intensity and has tech "unicorns"
such as Podium and Pluralsight. Financial services add
diversity to the economy, including major operations of
Goldman Sachs and Wells Fargo.
Orlando -Kissimmee -Sanford, Florida's tourism -
dependent economy has bounced back from COVID-19
and joins our list at 24t". Theme parks saw a strong
increase in visitation in 2022, and the area's economy
is 36 times more tied to tourism than the nation
overall. Furthermore, professional services and finance
are supporting the addition of high -paying jobs, and
aerospace giant Lockheed Martin has many unfilled
positions after securing new federal defense contracts.
Fort Collins, Colorado is 251" and has a thriving
entrepreneurial tech scene with lower costs than
Boulder, its neighbor to the south. Broadcom has chip
production based there, and given incentives, should
expand. Colorado State University provides a steady
stream of talent.
Cape Coral -Fort Myers, Florida is another tourism -
fueled economy and ranks 26t". Hurricane Ian disrupted
its strong growth, but rebuilding is under way.
Coeur d'Alene, Idaho joins its Mountain States
colleagues at 27t". Its economy is primarily driven by
outdoor recreation and amenities.
Santa Rosa -Petaluma, California is 28t" and is known
worldwide for its wineries and breweries. It is within
easy driving distance of San Francisco and San Jose,
and is seeing a rebound in tourism.
14 HEARTLAND FORWARD
Another metro that is strongly driven by leisure and
hospitality is 2911-ranked Crestview -Fort Walton
Beach-Destin, Florida. Miami -Fort Lauderdale -
Pompano Beach, Florida, at 301h, benefitted from
a return of tourists but also has a thriving financial-
services and tech scene.
At 311s' and 34th, respectively, are heartland metros
Daphne-Fairhope-Foley, Alabama and Fayetteville -
Springdale -Rogers, Arkansas. Daphne is a tourist
destination known for its white beaches and saltwater
fishing. Fayetteville would have been in the Top 30 if
not for rapidly rising costs. This metro area had the
biggest jump in median home prices in the nation in
2022 and also experienced dramatic increases in utility
costs. After adjusting for inflation, Northwest Arkansas'
real economic gains were muted.
MOTOR VEHICLE PARTS MANUFACTURING
The most -improved heartland metros in this year's
report have mostly found common ground in their
manufacturing sectors —more precisely, the making of
motor vehicle parts. The pandemic slowed automobile
production and, therefore, economic productivity in
metros that rely on this sector. A severe shortage of
semiconductors and other components, mandatory
factory closures and worker illnesses limited auto
production throughout the pandemic. According to the
United States International Trade Commission (USITC),
total car production in the nation was cut by nearly
9.2 million units, or 7.5 million units fewer than in 2019.5
In addition, the nationwide closure of offices due to
COVID reduced the demand for automobiles, though
not enough to avert significant price increases for
Vehicle manufacturing slowly recovered as the
pandemic faded and supply chain issues were
resolved. Regions dependent upon auto manufacturing
eventually started to relax. In the heartland, many
metros of small to medium size experienced a robust
rebound after contact restrictions were lifted, largely
due to their lack of economic diversity. Smaller
heartland metros where motor vehicle -related
assembly lines were reopened saw extraordinary
advances in their rankings. Springfield, Ohio; Columbus,
Indiana; and Morristown, Tennessee are the three
most -improved metros among all others that share
the same DNA in motor vehicle parts manufacturing.
All three took heavy losses in the 2021 rankings, all
coming in lower than 320 among 382 metros ranked.
Nevertheless, their resilience proved encouraging
for other heartland metros —Springfield, Columbus
and Morristown now stand 1461h, 1841h and 1581h,
respectively.
Vehicle manufacturers also demonstrated ingenuity
by finding innovative ways to retool their machines
to handle chip shortages. Per an article by MIT, car
companies used their current stock of chips and
built an adaptive process so that their own machines
could better handle production.' Also, certain features
were minimized, such as touchscreens as part of the
infotainment systems, assisted auto drive, assisted -
parking packages, and more.
The revival of auto manufacturing is strongly
underscored in the 2022 Most Dynamic Metros.
Springfield, Ohio was 3361h in the 2021 rankings but
1461h this year —most improved in the heartland and
second -most improved overall behind Kahului-Wailuku-
both new and used cars. Increased household incomes Lahaina, Hawaii, which advanced 311 spots to stand
during the pandemic —from higher wages, reduced
expenditures and government payments, combined
with a decrease in deferred gratification —appeared
to offset any demand reductions for vehicles. With
production hampered and demand rising in online -car
shopping, the relative supply of vehicles was fixed,
and shortages resulted in price increases. Such price
increases, particularly on used cars, along with a need
for contactless purchasing, contributed to a rise in
online car buying from platforms such as Vroom and
Carvana, forcing brick -and -mortar dealerships to up
their online presence.
59th overall. The Springfield metro area's average
annual pay growth over five years (2016-2021) is
30.3%, which ranks 42nd against all other metros for
medium -term average annual pay. Its one-year average
annual wage growth of 8.7% (18th overall) is quite
significant, as is its one-year real GDP growth (2020-
2021) of 7.1%. Not surprisingly, Springfield's five-year
growth in employment was at a negative level (-5.1%),
like many other manufacturing metros. Evidently, the
rebound effect can be found in their short-term rates
for employment growth. With one-year employment
growth (2020-2021) of 2.2% and one-year momentum
growth rate (June 2021-June 2022) of 2.5%, it seems
HEARTLAND FORWARD 15
that Springfield's rebound has been fueled in part
by productivity gains. A metropolitan statistical area
with a population of just 135,633, this relatively small
community certainly impressed by climbing back into
the top 150 overall.
Springfield's success, in part, stems from recent
investments in new manufacturing capacity. Topre
America Corp. specializes in making pressed and steel
auto parts, along with air conditioning and electronic
equipment. Parent company Topre of Japan decided to
invest $10 million in a 30-acre plant in 2016 to augment
production at the nearby Honda of America facility.' It
would also connect the Springfield location with Honda
and Toyota plants in neighboring Indiana and Kentucky.
Topre invested again in November 2017, pushing its
Springfield spread to a total of 315,000 square feet.
The post -pandemic outlook of economic prosperity
through auto manufacturing should provide great
opportunity and hope to the people of Springfield.
About 2 1/2 hours southwest of Springfield by car
sits another auto manufacturing hub that ranks 184tn
overall, up 176 spots from 36011 in 2021. Columbus,
Indiana is second -most improved overall among
heartland metros. Per capita income in 2021, after
adjusting for regional price parity, was $66,457, which
ranks 6011 overall. Columbus' five-year employment
declined similarly to Springfield, Ohio at -5.0%. Short-
term momentum employment (June 2021-June 2022)
and one-year real GDP growth both were positive at
3.3% and 8.5%, respectively. Columbus is one of the
smallest metropolitan statistical areas in the country
with 82,475 people, according to 2021 statistics from
the U.S. Census Bureau.
Despite its size, Columbus is home to a few
international automotive companies. Faurecia is an
automotive supplier headquartered in the suburbs
of Paris. It is one of the largest global suppliers
of automotive interior components such as seats,
dashboards and center console systems, door panels
and more. It participates in the Euronext Paris stock
exchange. Several other Columbus facilities primarily
focus on emission -control design and development,
as well as exhaust system components.$ Furthermore,
Toyota Industrial Equipment has an impressive facility
that covers more than 1 million square feet and has
produced upwards of half a million forklifts since
opening in 1990.9
Other international players with facilities in the
Columbus area include Japan -based Hisada America
Inc., which produces interior parts like car seat rails and
16 HEARTLAND FORWARD
headrests, and Baldor Dodge Reliance from Canada,
whose expertise lies in motor generator production. It
is not an exaggeration to regard Columbus as a major
auto parts manufacturing hub. This smallish metro and
its hardworking labor force immensely contribute to
the global automobile market.
Two eastern Tennessee metro areas located just an
hour apart by car performed admirably in this year's
rankings by also providing a home to makers of auto
parts. The Morristown MSA, with a population a bit
short of 144,000, is the third -most improved heartland
metro, jumping 164 spots from 322nd to 158th overall.
Its much larger neighbor to the southwest, Knoxville,
population 890,000-plus, climbed 69 spots from its
2021 ranking of 1451h to 76th in 2022. Toyota and Honda
both have facilities there, while the Mahle Group has
a plant in Morristown. Both metros work together
seamlessly to supply each other with automotive
components.
The Mahle Group in Morristown specializes in engine
manufacturing.
Morristown's real GDP growth in five-year and one-year
periods shows commendable effort at 14.6% and 8.2%,
respectively; its post -pandemic employment growth
from June 2021 to June 2022 reached 3.1%.
Just like the Morristown MSA, Knoxville posted an
impressive real GDP growth of 15.9% from 2016-
2021 and 8.5% from 2020-2021. Although the area's
largest employers are within the health care industry,
the community rebounded through automobile
manufacturing, as did Morristown. As a medium-sized
metro (population range of 500,000 to 1 million), the
Knoxville region is large enough that its economic
diversity can offset shocks that only affect specific
industries.
Pent-up demand for cars, along with inflated
savings due to pandemic -related policies and lower
household expenditures, led to a swift and refreshing
rebound in vehicle manufacturing. As the beating
heart of the southern automotive center, Tennessee
metros continue the trend of recruiting, training and
maintaining a skilled workforce to supply products
for numerous automobile needs locally, nationally and
internationally. The big -picture result is an area that has
established itself as a reliable partner for automotive
corporations worldwide.
It would be unjust to tell the story of motor vehicle
manufacturing without introducing superstar metro
Elkhart -Goshen, Indiana. This bustling MSA ranked
356th overall in the 2020 edition of Most Dynamic
Metros, 81s' in 2021 and bolted all the way to No.
2 for 2022. Only San Jose -Sunnyvale -Santa Clara,
California has done better, taking the top overall spot
for the past two years. Indiana is well known as an
auto manufacturing powerhouse, alongside states
including Michigan, California and Texas. Because of
the relatively expensive cost of conducting business
in California, recreational vehicle (RV) makers like
Fleetwood Enterprises moved production to Decatur,
Indiana, as a subsidiary named Fleetwood Motor
Homes of Indiana, Inc. In the same timeframe—around
10 years ago —Heartland RV, founded by Brian Brady,
was acquired by Thor Industries.10 As a result, these
Indiana communities saw their RV heritage grow
even larger. Dubbed the "RV Capital of the World,"
Elkhart is without peer in RV production; it is believed
that around 80% of RVs on the road are produced in
the Elkhart -Goshen metro.11 There is even a museum
dedicated to RVs.
During the pandemic, people took to RVs to travel and
explore the outdoors to boost their well-being. This
naturally had Elkhart -Goshen busy working to meet the
rising demand for RVs. By the time COVID subsided,
many people already had embraced the outdoor living
style and continued a remote work -life style.
Elkhart-Goshen's success is relevant and evident in
our research. The pandemic -driven increase in RV
production and supplies was reflected in the one-
year employment growth of 10.1%, third -highest in
this category. Short-term productivity increased
tremendously, as indicated by a real GDP that was up
25.3% from 2020-21—best in this category. Average
annual pay from 2020-21 grew by 20.8%, also tops in
the nation. Over the five-year span of 2016-21, the area
experienced mighty economic gains in average wage
growth (40.1%, fifth -highest) and real GDP growth
(31.4%, ninth -highest). A relatively small MSA of roughly
206,000 people in 2021, Elkhart-Goshen's rapid growth
has made it the clear champion of heartland metros in
this year's rankings.
HEARTLAND FORWARD 17
THE COMEBACK OF LARGE HEARTLAND METROS
We define large metropolitan statistical areas as
those with a population greater than 1 million. The 20
heartland states are home to 22 such metros. Among
them, two are in the top 11 of our 2022 overall rankings
(Austin -Round Rock -Georgetown, Texas at fourth and
Nashville -Davidson -Murfreesboro -Franklin, Tennessee
at 111h). Furthermore, the five most -improved large
metros in the heartland are among the top 150 overall,
and all have improved more than 80 spots from a year
ago. They are:
• Nashville -Davidson -Murfreesboro -Franklin,
Tennessee (951h in 2021, 1111 in 2022)
• Detroit -Warren -Dearborn, Michigan (234th to 1111h)
• Chicago -Naperville -Elgin, Illinois -Indiana -Wisconsin
(21811 to 12111)
• Birmingham -Hoover, Alabama (2281h to 132nd)
• Memphis, Tennessee -Mississippi -Arkansas (219th to
135th)
These large heartland metros, along with many others
in the medium and small categories, witnessed a
rebound effect in the post -pandemic period. COVID-19
lockdown policies forced most offices and restaurants
to limit contact, resulting in people becoming isolated,
and some even moved to less -populated areas. The
absence of the usual dine -in crowd created difficulty
for downtown restaurants. The shrewdest stores
never closed, but pivoted to online and curbside
pickup business models. Some industries, such as
tech, adopted remote -working environments to
ensure business continued without major disruptions.
Austin -Round Rock -Georgetown, Texas, for example,
developed an ecosystem that breeds entrepreneurism
in the tech industry with relatively lower costs than the
coastal areas like California. Evidently, the migration of
Fortune 500 companies to the Austin metro eventually
attracted Tesla and Oracle. Industries that continuously
rely on in -person attendance began to rebound as
tourism -related businesses entered a recovery phase.
Large cities with multiple concert venues and sporting
events/related businesses reopened to foot traffic.
Air travel and transportation seemed to rebound, as
well, behind an influx of visitors. Chicago, Memphis,
Nashville and Dallas all used this reopening phase to
advance through the rankings.
Travel destinations such as Motor City (Detroit) finally
welcomed back spectators to its annual auto show.
Motown Museum and the Fox Theatre were among
some of the many venues that attracted an influx of
nonlocals. The Windy City (Chicago) ended a two-
year hiatus in welcoming back its annual tradition of
dyeing the Chicago River green on St. Patrick's Day —a
60-year tradition dating back to 1962. Spectators
once again flooded the streets to celebrate like they
did before COVID-19. Music City (Nashville) witnessed
a rousing reception for the return of various music
festivals and downtown nightlife. Butch Spyridon,
who will retire June 30 as CEO of the Nashville
Convention and Visitors Corp. (NCVC), said direct
visitor spending in 2019 was $7.5 billion but dipped to
$3 billion in 2020, a $4.5 billion net loss.12 In 2022, it
was estimated that the economic rebound provided
$8.8 billion.13 Still, city officials are hopeful that with
everything reopened, tourism will return to normal at
Ryman Auditorium (former home of the Grand Ole
Opry), the luxurious Hermitage Hotel, water parks and
the airport. Memphis —the Home of the Blues and also
the Birthplace of Rock 'n Roll —welcomed back ample
numbers of music fans and artists alike.
Heartland NFL fans also were delighted in 2021 by the
reopenings of Ford Field for the Detroit Lions, Solider
Field for the Chicago Bears and Nissan Stadium for
the Tennessee Titans. These teams —along with their
NBA, NHL, MLB and MLS counterparts —provided a
morale boost for locals and travelers alike. Attendance
in Nashville, Chicago and Detroit all reached at
least 97% capacity on average during the 2022 NFL
season, as was the case with the entire league.14 The
full reopening stimulated employment in the sports
sector for occupations like employees of vendors
and in -stadium bars/restaurants, as well as those for
ground transportation (shuttles). The influx of visiting
fans would also boost demand for lodging. Hotels in
Nashville registered an unforeseen record of 9.5 million
room nights in 2022, the most ever sold in that city.15
Economic growth is associated with various factors,
including the ability to innovate and invent through
entrepreneurship. Large metropolitan areas ease
the process of attracting highly skilled workers
and ambitious entrepreneurs to build and grow
their startup adventures. Detroit -Warren -Dearborn,
Michigan is certainly reaping the benefits of the auto
18 HEARTLAND FORWARD
manufacturing full-scale comeback, as described in
the previous section. While Elkhart is dubbed the
RV Capital of the World, Detroit is known simply as
Motor City. The state of Michigan is one of the largest
locations for manufacturing —Detroit metro leads
the motor vehicle manufacturing race, thanks to the
longtime presence of America's biggest automobile
companies. Ford, General Motors and FCA US (a
subsidiary of Stellantis N.V., formerly Chrysler) have
been the pillars to support Motor City's economic
stability. As the most -improved metro in the heartland,
its rebound is characterized by 4.2% employment
growth in 2020-21, followed by 2.8% growth in June
2021-June 2022. This correlates to real GDP growth in
2020-21 of 8.7% (26th highest in this category).
Detroit also welcomed entrepreneurial activities in
sectors that showed a trend of hiring employees
with bachelor's degrees; it registered a relatively high
young -firm knowledge intensity of 28.1%, which ranks
25th on this metric. The city's entrepreneurial diversity
seems to be in tech -related and finance startups.
Companies such as Our Next Energy, which promoted
its next -generation batteries to extend the range of
electric vehicles, finished their Series B funding of $25
million. Founded less than five years ago, this company
has already attracted investors such as Bill Gates'
Breakthrough Energy Ventures, which led the Series
B round of funding, and BMW's own venture fund
organization.16 In contrast to attracting big funders for
multibillion -dollar businesses in Detroit, some smaller
startups were created, to support small business
owners' online banking needs such as Autobooks,
which aids in cash -flow management and financial
reporting for small-business owners.17
The Chicago -Naperville -Elgin, Illinois -Indiana -Wisconsin
Metropolitan Statistical Area claimed the 115th spot
overall this year. The region boasts a relatively high per
capita income adjusted for regional price parity in 2021
of $68,293. After taking a hit in five-year employment
growth (2016-21), Chicago witnessed a slow but steady
climb in one-year employment growth of 1.9% (2020-
21) and 12-month growth from June 2021 to June 2022
(3.2%). A positive real GDP growth reflected a rebound
effect, registering 6.4% in the short run (2020-21).
Its 29.7% young -firm knowledge intensity (161h-best
among metros) is because many startups employ a
highly skilled workforce with bachelors' degrees or
above. Tech startups are the most common, and they
represent a diversity of industries, including health
care, real estate and finance. Health -tech startups like
PatlentlQ raised $25 million in Series B funding from
August Capital and Health Enterprise Partners to
transform patient data into actionable intelligence and
have been working with 5,000-plus providers and more
than 1.5 million patients.1' Real estate tech startups like
Cohesion used their systems to aid property owners
and managers with day-to-day tasks. They already
have 2.2 million square feet of Class A office space
and expect 5 million more to be contracted and built
after raising the first round of seed funding to scale
operations.19 Chicago, with an MSA population of more
than 9.5 million in 2021, has no issues attracting highly
skilled workers for entrepreneurial activities.
In addition to being the "Birthplace of Rock' n' Roll,"
Memphis is also home to one of the largest courier
and express delivery services in the United States:
Fed Ex. As a result, Memphis also now has the nation's
busiest cargo airport. The rise in online purchasing
and the reshoring of manufacturing also helped this
logistics hub gain ground. Although the transportation
sector required time to recover in the early stages of
the post -pandemic era, its subsectors—air and inland
transportation services —actually expanded. In the
last edition of our Most Dynamic Metros, Memphis
advanced 51 spots, largely because of its ability to
connect water, land and air transportation networks
seamlessly, thereby stimulating job growth. During the
period of 2016-21, Memphis registered job growth of
1.9%. Although not significant by any means, its growth
rate of 2.6% between June 2021 and June 2022 showed
a promising upward trend fueled by rising demand for
moving products around the country. The Memphis,
Tennessee -Mississippi -Arkansas metropolitan statistical
area, with a little over 1.3 million population, is growing
slowly but steadily, as born out by its one-year, 2020-21
real GDP growth of 5.9%.
The well -documented supply chain bottleneck
persisted in the Memphis area. E-commerce took flight
during the pandemic, presenting both opportunities
and hurdles to transportation hubs like Memphis. As
demands of online shopping soared, transport hubs
required more storage space for goods in transit.
Fuel -related inflation spikes also figured into the
rise of transportation costs. Trucking businesses, for
example, faced not only the ever-increasing cost of
labor but fuel, as well. Local economic developers
started to gather and discuss contingency plans
to highlight ideas to increase storage capacity for
transportation needs. Commercial bankers like Blake
Elliot commented that firms in Memphis had been
adapting and adjusting their business model from a
"just -in -time" to a "just -in -case" mindset, which meant
creating a path to have enough supplies for whichever
economic downturn may come next.20 He highlighted
that storage capacity must increase before —not during
or after —the next downturn hits.
The comeback of large metros —not just in the
heartland, but anywhere in the nation —could focus
on further stimulating innovative activities across
various sectors. Policies such as the American
Rescue Plan (ARP) include $1.9 trillion in nationwide
support for entrepreneurship and small business.
The plan also expands the State Small Business
Credit Initiative (SSBCI), which provided $10 billion
to create a more flexible, equitable program under
which state and local governments help with the
creation of small businesses. Additionally, attracting
highly skilled workers could directly or indirectly
boost economic growth potential through expanded
research, innovation and development. Additionally,
firms must be able to retain those workers, especially
young professionals. Despite the rising cost of living
everywhere, large metros in the heartland are still
relatively cheap. These areas tend to maintain their
traditional charm for visitors and newcomers alike, and
the pairing of strong manufacturing with a smooth
transportation network could help maintain and
accelerate productivity and, in turn, ensure the well-
being of populations residing in these metros.
INNOVATION HUBS
Innovation drives economic growth, but how? The
basic premise is that innovation will increase the
productivity of workers and capital (i.e., buildings,
manufacturing equipment, computers), which boosts
the value of outputs per worker and per capital
asset. Perhaps a new product is more valuable than
a company's previous offering but can be made with
the same amount of labor and capital. Or maybe a
new algorithm or machine increases employee output.
20 HEARTLAND FORWARD
Either way, innovation generates more output for a
given input, thereby leading to economic growth.
Innovation often arises in existing companies that
conduct research and development to advance their
products or operating efficiencies. It can also come
from a startup that brings a new product to market.
The innovative capacity of startups is a key reason
we include the young -firm employment share and
young -firm knowledge intensity in our index, as we are
attempting to capture the amount of future economic
growth resulting from startups bringing their creations
to market in a given metropolitan area.
Therefore, it is not surprising that America's innovation
hubs perform well in our Most Dynamic Metropolitans.
Among dominant hubs in recent history— the two
Silicon Valley metros, San Jose -Sunnyvale -Santa
Clara and San Francisco -Oakland -Berkeley —are again
first and third, respectively, in 2022. Additionally, the
Seattle and Boston metros placed in the Top 25, with
each finishing in the Top 15 for young -firm knowledge
intensity, a measure of innovative capacity for young
companies. Two of the nation's burgeoning innovation
hubs also ranked high: the innovation engine that
is Austin, Texas, has risen to fourth in our current
ranking iteration, while the Miami metro jumped from
1401h in 2021 to 301h in 2022. The most surprising
innovation success story may be the re-emergence of
two Midwestern metros that were on the forefront of
American innovation in the 20th century: Detroit, which
jumped from 23411 in 2021 to 111th in 2022, and Chicago,
which leapt from 2181h to 1215E
The two returning Silicon Valley metros employed a
similar formula to last year. They had moderate medium -
and short-term employment growth as they battled
small, high -outdoor -amenity metros for talent post -
March 2020. However, their nation -leading wage and
GDP growth data reflect Silicon Valley's unique ability
to innovate and boost worker productivity, thereby
generating economic growth. This capacity does not
seem to be diminishing, as San Jose -Sunnyvale -Santa
Clara and San Francisco -Oakland -Berkeley ranked first
and second, respectively, in young -firm knowledge
intensity.
One way to quantify Silicon Valley's innovation output
relative to the rest of the country is to analyze venture
capital investments in its startups. Such dollars declined
to $75 billion in 2022 after reaching a record $122 billion
in 2021, but one of every three venture capital dollars
spent nationwide still flowed into the valley in 2022.21
That capital went into companies at the frontier of
innovation in their respective industries, such as Deel,
a human resources management platform designed
for companies with remote workers spread across the
world. Deel raised $500 million dollars in investments
from October 2021 to May 2022.22
While job growth has effectively stabilized in Silicon
Valley, that is not the case in Austin. Over the past three
years, the Texas capital city metro has successfully
recruited headquarters and expansions for some of
the world's most innovative corporations and has
greeted an influx of talent from the coasts. Our data
reflects this growth in both innovative capacity and
labor force, as Austin is a national leader in job, GDP
and wage growth. Beyond the metrics included in our
index, we can look at growth in STEM jobs particularly.
One way to do this is to measure employment growth
in professional, scientific, and technical services, which
captures nonmedical STEM jobs ranging from engineers
to software developers to statisticians. Not only is
Austin's labor force among the country's densest in this
employment group (169% of the share nationwide), it
also experienced the third -largest share increase of any
metro in 2020-21, increasing from 160%.
Austin's STEM labor force should continue to grow, as
Tesla's employment footprint has consistently expanded
since the company relocated there in October 2021.23
Further, additions such as the under -construction
Samsung chip plant will require a significant influx of
STEM jobs.24
On the startup front, Austin is one of eight metros
nationwide that rank in the Top 60 for both young -firm
employment share and young -firm knowledge intensity,
indicating the area is producing innovative startups at a
uniquely high rate for its size. Austin's growing startup
ecosystem is also reflected in the amount of venture
capital dollars flowing into the metro, which, after
more than doubling from 2020 to 2021 and reaching
a record $6.6 billion, was a respectable $4.9 billion in
2022. That does reflect a 26% drop, but Austin's decline
was less than the 31% dip nationwide.25 The dollars
flowed to impressive startups such as Wheel, provider
of a multichannel digital health care platform that
HEARTLAND FORWARD 21
combines virtual and in -person visits, test results, and
text communications for a comprehensive patient -
experience system that also provides guidance on
patient triaging and optimal patient -provider matching
The company raised $150 million in an early 2022
funding round.26
An even more recent development is at the southern
tip of Florida, where Miami has parlayed a COVID-era
influx of talent from the nation's largest innovation
hubs into an economic transformation.27 This sudden
success is reflected in our data; while the Miami metro
has seen only moderate mid-term growth in GDP,
wages and jobs, it has been a leader in growth from
the start of the pandemic. Further, Miami is another
area that performs well in both young -firm metrics: 51s'
in employment share and 88th in knowledge intensity.
Media coverage of Miami's success has attributed
significant credit to eMerge Americas, a local
organization focused on connecting the metro's
own innovation and entrepreneurship ecosystem of
government organizations, universities, investors, and
innovators with external funders and Miami's unique
business opportunities.28 An example of the strategic
business opportunities, which is suggested by the
organization's name, has been the acknowledgment
that Miami is situated as the U.S. gateway to Latin
and South America and often hosts conventions that
connect local leaders and innovators with corporations,
investors and government leaders from across the
Americas.29
Another recognized niche of Miami is cryptocurrency,
and while the future of crypto is unclear following the
collapse of crypto exchange FTX Labs, local company
Yuga Labs has been an overnight success in the related
space of NFTs (non -fungible tokens), bringing in nearly
half a billion dollars in investments in an early 2022
seed -funding round.30 Their initial success was the
result of forming a club around owners of Yuga Labs'
digital collectible images, and offering exclusive event
and merchandise access to this increasingly popular
group. The organization has since begun developing
a metaverse gaming platform that will further expand
the ecosystem surrounding Yuga's NFTs.31
Yuga Labs' massive seed -funding round played a major
role in a record -breaking 2022 for Miami startups, with
a total inflow of $5.5 billion into the broader South
Florida region, which Miami anchors. South Florida was
one of the few major startup ecosystems to experience
an increase in investments from 2021 to 2022, growing
by 13%.32
While further discussed elsewhere in the report, it
is worth acknowledging the newfound success of
Detroit and Chicago. In many ways, Chicago has been
the stagnant innovation and entrepreneurship giant
of the Midwest, producing a stable -but -high number
of successful startups and retaining headquarters for
many of the nation's largest companies. However, the
Windy City saw one of the largest ranking gains of any
metro over the past year, with notable improvements in
short-term growth. On the startup front, Chicago has
generally performed very well in young -firm knowledge
intensity. Yet, there may be hope for even greater
success, given that Chicago -area startups contrasted
the nationwide decline in venture capital investments
from 2021 to 2022 with a 54% increase.33
Detroit was once a global leader in automotive and
manufacturing innovations, but the region's innovative
capacity had diminished over the 70 years following
its peak in the mid-20th century. However, Detroit still
has outsized numbers of STEM workers and corporate
headquarters and is now experiencing a renaissance.
Its 123-spot improvement from 2021 to 2022 is the
15th-largest jump out of 382 metros and, like Chicago, it
is largely due to strong short-term GDP, wage and job
growth. Our index is certainly not alone in capturing
Detroit's rebound, as Startup Genome recently named
the Detroit area the top emerging startup ecosystem in
the world, ahead of communities such as Hong Kong,
the North Carolina research triangle and Houston.34
Detroit's success is the result of diligent efforts by local
and state leaders to return the metro and the state
of Michigan to its former innovative glory. Statewide
efforts are highlighted by the fact that venture capital
investment in Michigan startups grew 243% from 2017
to 2022, compared to 164% nationwide.35
22 HEARTLAND FORWARD
It should be noted that the recent tech layoffs, which
have impacted many of the nation's most innovative
companies and brightest startups, are not captured
by our data. Thus, many of the communities we have
highlighted may not perform as well in our 2023
index. However, the tech industry has weathered much
more severe downturns than what has occurred up
to the time of this writing, and we expect the nation's
tech hubs to remain among the strongest regional
economies moving forward.
OUTDOOR RECREATION HUBS
Our 2021 iteration of this report highlighted the success
of smaller metropolitans offering direct access to the
outdoors. These areas were again successful in our
2022 index. However, the Western metros that had
jumped up the rankings from 2020 to 2021 have now
stabilized or fallen slightly. Meanwhile, Southeastern
metros located near major outdoor amenities
experienced significant jumps.
Many Western metros are still performing very well,
but their short-term growth numbers are not as strong
as last year. One reason is that they weathered the
early pandemic so well. While the rest of the country
recovered from the early-COVID recession and,
therefore, posted strong short-term growth rates, many
smaller Western metros saw their economies grow
from 2019 to 2020 and had nothing to rebound from.
For example, Provo-Orem, Utah ranked 121" last year
in short-term GDP growth, up 1.5% from 2019 to 2020.
However, its 8.3% GDP growth from 2020 to 2021 was
only good enough for 36t"
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Another reason is that the post -March 2020 swell of
remote workers increased the cost of housing and
other goods and services, resulting in somewhat
of an arbitrage effect, as rising prices reduced the
incentive for families to relocate from large metros.
Indeed, communities like Coeur d'Alene, Idaho and
St. George, Utah saw housing costs jump from well
below the national average in 2019 to roughly equal
to the national average in 2020.36 Census Bureau
data indicate that Idaho, Montana and Utah were first,
second and third, respectively, in population growth
from April 2020 through July 2022, but that growth
cooled as the pandemic persisted. From July 2021
through July 2022, the same states ranked second,
sixth, and 10t".3'
We have thoroughly discussed the success of the
smaller Western metros, as well as Florida metros of
similar size, in prior reports; however, there are some
rising Southeastern metros we have not discussed. This
group includes, in order of their ranking:
• Daphne-Fairhope-Foley, Alabama
• Myrtle Beach -Conway -North Myrtle Beach, S.C.-N.C.
• Gainesville, Georgia
• Charleston -North Charleston, South Carolina
• Asheville, North Carolina
• Knoxville, Tennessee
• Savannah, Georgia
• Blacksburg-Christianburg, Virginia
• Chattanooga, Tennessee -Georgia
• Johnson City, Tennessee
a
While generally not to the level of their Mountain
West and Florida counterparts, these communities
have experienced sizable population growth since the
beginning of COVID-19. Within this group, the coastal
communities were the fastest -growing metros from
April 2020 through June 2021, with Myrtle Beach and
Daphne fourth and 141h among all metros.311 Overall,
these Southeast metros' recipe for economic success
has been similar to the recipe for Mountain West and
Florida metros: bring in remote workers and other
COVID-era migrants from the nation's largest cities
and show them the quality of life and economic
opportunities available there.
Daphne-Fairhope-Foley's population growth is
reflected in strong GDP and employment growth;
the area is ranked 315t overall and is among the top
20 nationally for short-term and medium -term GDP
growth. Central to its appeal are the Gulf Coast and
Mobile Bay. The region is famous for its white -sand
beaches, but possibly even better known for its
fishing. While data are not yet available for 2021, data
for 2020 show nearly 7 million recreational saltwater
fishing trips in Alabama. That implies a significant
number of fishing trips in the Daphne-Fairhope-Foley
metro, given that it is home to nearly all of Alabama's
beachfront and saltwater fishing charters.39 This is an
area long centered on coastal tourism and commercial
fishing; however, the expansion of remote work at the
beginning of the pandemic allowed a more diverse
set of workers to be drawn in by the region's high
quality of life.40 Like other metros that attracted remote
workers, the challenge may be to sustain growth as
remote work opportunities decline. That may explain
the recent announcement of a state-of-the-art
aluminum recycling plant that will create 1,000 jobs
with an average salary of $65'000.41
Six hours northeast of the Alabama coast is the
mountain town of Chattanooga, Tennessee, which
jumped 67 spots to 95th in this year's rankings. After
relative economic stagnation in the latter part of
the 2011 century due to a broad decline in American
manufacturing, this Southern manufacturing hub has
experienced well-earned economic revitalization over
the past 20 years. Its strategy has effectively been two -
pronged
1. Market and enhance its unique outdoor recreation
opportunities as a community built along the
Tennessee River and surrounded by the southern
Appalachian Mountains to potential newcomers.
2. Build sufficient physical infrastructure so that
innovative companies are also attracted.
Regarding the former, whitewater paddling, rock -
climbing and fishing opportunities have long existed.
Meanwhile, mountain -biking opportunities continue
to expand —the region's newest trail system, Walden's
Ridge Park, is garnering national attention even before
its anticipated opening later this year.42 The park will
also offer top-notch climbing and hiking opportunities,
but the 800 feet of vertical relief for the mountain -
bike trails makes this a unique urban trail system.43
The combination of outdoor activities is highlighted
by the community being recognized multiple times by
"Outside Magazine" in its Best Towns Ever list.44
The region's most significant infrastructure investment
has likely been fiber internet deployment. In 2020,
Chattanooga became first in the nation to receive
communitywide gig -speed internet (speeds over 1
gigabit per second). It has since become first with
10-gig and 25-gig speeds communitywide.4-1 The fast
speeds have made Chattanooga a perfect location for
high-speed, internet-dependent logistics and advanced
manufacturing facilities. Therefore, it is no surprise that
its most successful recent startup is FreightWaves, is a
real-time freight analytics company.46
Four spots below and 220 miles north of Chattanooga
is another Appalachian community, Johnson City,
Tennessee. This small metro near some of Appalachia's
highest mountains did not see an influx of remote
workers as large as Chattanooga or nearby Knoxville,
but it has still experienced strong wage, job and GDP
growth over the past few years. Additionally, local
leaders believe they can be the next great remote
work destination if they can simply get on those
workers' radar. Indeed, the Johnson City metro is
situated near some of the nation's best fly-fishing,
on the South Holston and Watauga Rivers47; is home
to Roan Mountain, the fourth -tallest mountain in the
Appalachians48; and is near Beech Mountain Ski Resort
and Bike Park. Their current strategy for attracting
24 HEARTLAND FORWARD
remote workers is one popularized by Tulsa: cash
incentives combined with fast internet. They are
offering up to $5,000 to successful applicants who
migrate to —and work remotely in —the Johnson City
area, and they have already accepted an initial cohort.49
Local leaders and outdoor recreation enthusiasts also
recognize that many of their best outdoor assets are a
bit of a drive, and they have made significant efforts to
create new amenities closer to Johnson City. One such
project, Tannery Knobs Bike Park, was conveniently
finished within months of the initial COVID lockdown.
The trail system has garnered attention as a well -
designed, urban mountain -bike layout.so
Our metrics suggest that Johnson City can improve
in the realm of entrepreneurship. And yet again,
community leaders have demonstrated their forward -
thinking tendencies. The metro has taken part in
Heartland Forward's Idea Accelerator program, which,
in partnership with investment firm Builders and
Backers, provides funding and guidance to community
members with a business idea. As part of the program
preparations, Katie Milligan, HF program officer for
innovation and entrepreneurship, visited Johnson City
and saw their economic development efforts firsthand.
The following is her description of the experience.
HEARTLAND FORWARD 25
OIL AND GAS
The energy -related industries experienced a volatile
roller -coaster ride during the pandemic. Gas prices
dropped as demand decreased drastically when the
lockdown policy was implemented and people no
longer drove to work, shopped in stores, etc. When
gas producers cut production in response, the supply
of gasoline decreased and drove prices slowly up. It
wasn't until spring 2021 that Texas crude oil prices
improved, moving from $16.55 per barrel in April
2020 to $61.70 in April 2021. The recovery of oil prices
allowed Texas metros dependent on oil and gas
production to recover economically. Oil and gas prices
fluctuated again when Russia invaded Ukraine on Feb.
24, 2022. Spot prices of WTI crude oil in the futures
market rose and a barrel of crude shot up to more than
$120 per barrel in March 2022. In states like California,
the average price of gasoline was more than $6 per
gallon in June 2022.
In the 2021 Most Dynamic Metros report, Texas metros
that are dependent on energy production suffered in
comparison to 2019. Midland dropped from No. 1 in the
2020 rankings to 381h in 2021 as the pandemic wreaked
its havoc. It has since made a comeback to take the
sixth spot overall for 2022. Midland continues to
register the highest per capita personal income in the
nation after adjusting for regional price parity at more
than $120,000. This measurement, along with five-year
growth in average annual pay of 31.6%, helped it regain
a top 10 ranking. Its economic growth is also reflected
in the 9.1% one-year momentum employment growth
between June 2021 and June 2022, when the energy
sector reopened and demand for oil and gas increased.
This growth rate is also highest in the nation within the
same period and is a significant improvement over 181h
a year earlier. In terms of real GDP, the Midland metro
recovered in the short run. For 2019-20, its rate was
-11.8%; for 2020-21, it was -3.5%. A metro with more
than 170,000 in population, Midland continues to rely
on the energy sector and therefore will always face
the chance of extreme volatility in its economy, as will
other small -sized metros such as Greely, Colorado and
Odessa, Texas. The bottom line is, if oil production
rebounds and stabilizes in the short run, Midland and
its citizens will enjoy economic benefits.
Among metros that are the most dependent on oil
and gas (highest share of employment versus the
national average), all experienced a small rebound
over last year's report. Greeley jumped 27 spots to
205th overall, while Odessa leapt 77 spots to 305th. Of
course, Midland is the best-known energy metro with a
nation -leading share of employment in the oil and gas -
extraction sector of 91.76 times the national average.
Odessa and Greeley rank third and fourth, respectively,
in the same sector —both more than 10 times as
concentrated as the national baseline.
A growth rate of 7.1% is the main driver of Midland's
post -pandemic rebound, as it ranks sixth in that
category. Greeley registered 4.5% in employment
growth from June 2021 to June 2022. And just as in the
previous edition of the Most Dynamic Metros, Odessa
and Greeley rank far behind Midland. One possible
reason is that oil and gas extraction companies are still
looking for maximum cost efficiency and productivity.
The Permian Basin, home to Midland, is the most
popular hotbed, with deposits of rocks that scientists
estimate have aged nearly 300 million years. It's
located on the western side of the sprawling state.
A Permian Basin oil production record was broken in
January 2023, when production rose by 12% to 5.6
million barrels per days'
Houston, Dallas and Oklahoma City metros fared
relatively better than the smaller oil -and -gas metros.
Their overwhelmingly larger populations translate
to economic diversity, a theme that has been
reintroduced multiple times. Houston sits at 1941h, and
although not in the top 150, that's still 80 spots up
from last year. Dallas -Fort Worth is 57th, up 53 spots
from 2021. Both metros are somewhat dependent on
oil and gas, although employment concentration levels
are not as high as Midland and Odessa. Houston and
Dallas do have the advantage of diversity, in that they
possess attractions in arts and entertainment, finances,
entrepreneurial activities and transportation. The
post -pandemic reopening of popular activities allowed
Houston and Dallas to recover and resume growth.
Air transportation services contributed to these two
metros, as they started to pick up the pace and slowly
meet the demands of air travel and air shipping. Dallas
metro showed consistency in employment numbers as
26 HEARTLAND FORWARD
2020-21 employment growth was 9.1% and June 2021-
June 2022 employment growth was 4.7%, both ranking
in the top 50 in their respective categories.
City officials are confident that crude oil should remain
also translates to highly skilled workers in this industry
being rewarded with high wages (the Midland metro,
for example). However, the economic boom in oil and
gas appears to only be applicable in the Permian Basin,
while smaller metros in other oil -dependent areas of
around $80-$90 per barrel in the next few years as Texas did not bounce back as well as Midland.
Texas producers drill new and profitable wells. In
the grand scheme of the Texas oil and gas industry,
recovery efforts appear to be more promising in the
short term, as the state already registered a net gain of
more than 24,000 jobs created in direct gas industry
employment in 2022, to a total of 347,828 jobs.52 This
bw
CONCLUSION
The 2022 Most Dynamic Metros takes a similar
approach to the previous edition. We examined
the data to identify characteristics of metros that
thrive under the current economic situations. These
data trends reveal that industries like automobile
manufacturing gave life to metros that rely heavily
upon this sector. Therefore, it was no surprise that
these metros improved most among all U.S. metros.
The tech sector was still king, as the giants of Silicon
Valley remain at the top. Massive tech layoffs recently
in Silicon Valley metros are sure to affect a few
economic indicators, such as employment, in tech -
savvy metros like San Francisco and Santa Clara. An
expected decrease in tech -related demand translates
to a drop in overall profits, which is why Fortune 500
tech companies in Silicon Valley have been cutting
employees as of January 2023.
Yet, as discussed earlier, large metros have the
advantage of economic diversity over smaller
ones. Even if the tech sector might be impacted in
next year's report, it can still rely on other sectors,
such as tourism. The large metros in the heartland
recovered nicely because of the reopenings of
tourism venues featuring live music and sports,
along with movie theaters. Moreover, the ability to
cultivate entrepreneurial activities will always provide
an edge for sustainable economic growth. The fact
that economic diversity comes harder for smaller
metros than big ones generally suggests that many of
these smaller metros will experience boom -and -bust
cycles. This was demonstrated in the motor vehicle -
producing metros as the pandemic restrictions were
lifted and assembly lines resumed productivity to meet
increasing demand for autos. These metros ranked low
when the pandemic arrived (a bust cycle). The million -
dollar questions remain the same: How can metros be
more economically diverse? If metros only rely on single
industries and unplanned turmoil occurs again soon,
how confident will they be to navigate through it?
Places that rely on oil and gas industries produce
the most volatile economies of all —so much that the
inflation index called Core Personal Consumption
Expenditure (Core PCE) excludes this category when
tracking inflation over time. Metros like Midland, Texas,
rise and fall in the rankings over the years because of
this volatility. Economic stability through maintaining
their identity and stimulating innovation should be the
core value of every metropolitan statistical area. When
it comes to stability, metros with natural amenities
continue to shine, although they dropped back a bit,
mostly due to their growth in equilibrium. The spike in
economic growth during the pandemic made them a
success. Now, they are growing steadily. Community
leaders and economic developers must ensure they
have enough resources to expand their capacities in
productivity across various sectors. Generating enough
momentum to sustain entrepreneurship will, in the long
run, construct a diversified ecosystem and eventually
become its own identity.
28 HEARTLAND FORWARD
ENDNOTES
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HEARTLAND FORWARD 29
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minum-plant-creating-1000-jobs-in-baldwin-county/
42 Kerr, J. (2023). Mountain Bike Action. IMBA BUILDS AN
AMAZING NEW TRAIL IN TENNESSEE. https://mbaction.
com/imba-builds-an-amazing-new-trail-in-tennessee/
43 Larson, S. (2019, March 28). Next Level Trails in Chattanoo-
ga, Tennessee. IMBA.
44 Local3News. (2021, December 2). Outside magazine
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cle 035d8d2d-7a78-5427-a61b-5385b1c5704d.html
45 Visit Chattanooga. (2022, August 24). EPB Launches Amer-
ica's First Community -wide 25 Gig Internet Service. htt s:
www.visitchattanooga.com/articles/post/first-communi-
tv-wide-25-g ig-i nternet-service/
46 The Tech Tribute. (2022). 2022 Best Tech Startups in Chat-
tanooga.
https://thetechtribune.com/10-best-tech-startups-in-chatta-
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47 DIY Fly Fishing. (Retrieved 2023). Do Not Read "50 Best
Tailwaters to Fly Fish" Unless... https://divflvfishinci.com/
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48 Peak Bagger. (Retrieved 2023). Appalachian Mountain
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49 Nemarich, K. (2022, March 29). Johnson City campaign
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50 Tilton, M (2022, October 7). World -Class Mountain Biking:
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51 Phillps, M. & Peck, Emily (2023, February 2). Axios Markets.
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https://tipro.org/index.php?option=com content&view=arti-
cle&id=294
30 HEARTLAND FORWARD
APPENDIX
TABLE 2 - OVERALL TABLE
OVERALL
2021
Young Firm
Young Firm
2021PER
2016-2021
2020-2021
June.2021-
2016-2021
2020-2021
2016-2021
2020-2021
RANKING
POPULATION
Employment
Knowledge
CAPITA
EMPLOYMENT
EMPLOYMENT
June.2022
AVERAGE
AVERAGE
GDP
GDP
Share
Intensity
PERSONAL
GROWTH
GROWTH
EMPLOYMENT
ANNUAL
ANNUAL
GROWTH
GROWTH
INCOME
GROWTH
PAY
PAY
GROWTH
GROWTH
San Jose-
1
1,952,185
9.9%
39.7%
$122,119
2.3%
1.9%
4.8%
62.6%
16.0%
45.7%
13.3%
Sunnyvale -Santa
Clara, CA
Elkhart -Goshen, IN
2
206,921
6.1%
19.5%
$62,602
7.7%
10.1%
4.0%
40.1%
20.8%
31.4%
25.3%
San Francisco-
3
4,623,264
12.2%
36.7%
$103,237
-0.8%
2.4%
5.8%
50.0%
12.2%
29.1%
10.1%
Oakland -Berkeley,
CA
Austin -Round Rock-
4
2,352,426
14.1%
26.3%
$71,341
16.0%
7.3%
7.8%
40.4%
9.6%
31.2%
10.5%
Georgetown, TX
The Villages, FL
5
135,638
14.3%
20.4%
$66,912
28.0%
10.3%
6.6%
26.9%
3.0%
60.7%
10.4%
Midland, TX
6
173,180
16.8%
15.8%
$128,201
16.4%
3.9%
9.1%
31.6%
1.0%
65.6%
-3.5%
Boulder, CO
7
329,543
14.2%
34.9%
$88,430
5.5%
4.1%
3.7%
41.1%
8.2%
22.8%
7.9%
Naples -Marco
8
385,980
14.5%
24.9%
$115,461
7.8%
5.3%
4.4%
36.6%
6.0%
17.1%
8.8%
Island, FL
Provo-Orem, UT
9
697,141
16.5%
26.8%
$52,811
24.3%
7.9%
4.6%
32.5%
3.5%
42.0%
8.3%
St. George, UT
10
191,226
16.0%
22.3%
$50,085
26.5%
7.9%
4.3%
30.4%
5.5%
36.2%
7.6%
Nashville -Davidson-
11
2,012,476
10.1%
25.4%
$73,302
10.2%
4.6%
5.8%
31.2%
8.2%
21.1%
12.0%
Murfreesboro -
Franklin, TN
Logan, UT -ID
12
152,083
13.0%
25.7%
$50,973
16.2%
5.8%
2.4%
39.7%
9.7%
28.3%
8.1%
Reno, NV
13
497,535
11.5%
26.0%
$73,386
11.4%
4.7%
3.5%
36.5%
9.8%
17.4%
8.8%
Seattle -Tacoma-
14
4,011,553
10.3%
30.6%
$77,922
3.9%
2.2%
5.4%
37.7%
6.8%
31.2%
7.7%
Bellevue, WA
Bend, OR
15
204,801
15.5%
23.8%
$65,932
11.7%
5.2%
2.2%
33.5%
8.8%
31.4%
9.1%
Ocean City, NJ
16
95,661
12.4%
25.0%
$76,175
0.4%
9.9%
3.1%
31.2%
11.9%
6.1%
6.4%
Punta Gorda, FL
17
194,843
13.0%
23.8%
$53,661
6.2%
3.9%
5.0%
34.2%
13.2%
23.8%
7.8%
North Port-
18
859,760
14.0%
25.3%
$69,861
7.5%
5.1%
3.2%
31.0%
8.4%
22.9%
8.5%
Sarasota -
Bradenton, FL
Raleigh -Cary, NC
19
1,448,411
10.3%
27.9%
$68,075
10.1%
5.6%
5.4%
30.0%
4.0%
22.1%
9.0%
Boise City, ID
20
795,268
13.0%
23.1%
$59,122
18.9%
6.1%
2.9%
27.4%
5.5%
29.0%
9.0%
Las Vegas-
21
2,292,476
12.6%
24.4%
$60,994
3.0%
7.6%
7.5%
26.1%
7.5%
11.9%
9.2%
Henderson -
Paradise, NV
Boston -Cambridge-
22
4,899,932
9.0%
35.5%
$84,138
-1.1%
3.4%
3.9%
30.6%
7.7%
14.9%
7.3%
Newton, MA -NH
Salt Lake City, UT
23
1,263,061
10.2%
29.1%
$63,961
10.6%
4.5%
3.7%
31.4%
7.0%
24.2%
7.1%
Orlando -Kissimmee-
24
2,691,925
10.1%
24.0%
$53,200
5.2%
5.8%
8.4%
29.6%
5.5%
18.6%
10.9%
Sanford, FL
Fort Collins, CO
25
362,533
14.1%
26.7%
$65,583
7.6%
4.2%
3.8%
30.8%
5.1%
28.3%
7.0%
Cape Coral -Fort
26
787,976
15.7%
23.6%
$62,906
9.3%
6.1%
5.0%
28.7%
3.8%
16.5%
8.9%
Myers, FL
Coeur d'Alene, ID
27
179,789
15.0%
21.1%
$58,023
14.8%
5.2%
0.6%
35.4%
8.1%
23.8%
8.5%
Santa Rosa-
28
485,887
13.7%
24.9%
$73,769
-2.1%
2.4%
5.4%
39.9%
9.3%
10.1%
6.4%
Petaluma, CA
Crestview -Fort
29
293,324
14.8%
22.8%
$66,732
9.8%
5.3%
2.5%
30.5%
4.8%
23.8%
8.7%
Walton Beach-
Destin, FL
Miami -Fort
30
6,091,747
13.5%
25.0%
$66,886
2.1%
4.3%
4.5%
27.5%
9.1%
14.7%
9.4%
Lauderdale -
Pompano Beach, FL
Daphne-Fairhope-
31
239,294
13.4%
22.0%
$59,355
9.2%
4.7%
3.0%
35.1%
4.9%
25.0%
9.6%
Foley, AL
*Shaded rows denote heartland metropolitan statistical areas.
HEARTLAND FORWARD 31
OVERALL
2021
Young Firm
Young Firm 2021 PER
2016-2021
2020-2021
June.2021-
2016-2021
2020-2021
2016-2021
2020.2021
RANKING
POPULATION
Employment
Knowledge CAPITA
EMPLOYMENT
EMPLOYMENT
June.2022
AVERAGE
AVERAGE
GDP
GDP
Intensity
GROWTH
GROWTH
EMPLOYMENT
ANNUAL
ANNUAL
GROWTH
GROWTH
INCOME
GROWTH
PAY
PAY
NEW_Share
ILIPERSONAL
GROWTN
GROWTH
-6.8%
3.6%
2.8%
25.2%
-1.1%
5.0%
Bridgeport-
32
959,768
9.3%
34.8% $120,407
7.1%
Stamford -Norwalk,
CT
Denver -Aurora-
33
2,972,566
11.3%
28.7%
$71,595
5.8%
3.8%
4.7%
24.2%
6.6%
19.2%
7.0%
Lakewood, CO
Fayetteville-
34
560,709
9.2%
22.8%
$75,660
8.8%
3.2%
4.2%
29.5%
5.7%
25.7%
8.5%
Springdale -Rogers,
AR
Sebastian -Vero
35
163,662
14.9%
22.8%
$96,894
5.2%
3.5%
4.9%
22.2%
5.2%
12.6%
5.7%
Beach, FL
Phoenix -Mesa-
36
4,946,145
10.4%
24.1%
$58,792
11.2%
3.9%
3.0%
29.2%
10.0%
22.3%
6.9%
Chandler, AZ
Trenton -Princeton,
37
385,898
7.4%
34.8%
$76,464
2.5%
2.0%
4.2%
26.4%
5.1%
22.7%
6.7%
NJ
Olympia -Lacey-
38
297,977
14.5%
26.1%
$58,944
6.4%
3.7%
5.1%
32.6%
4.8%
17.2%
5.8%
Tumwater, WA
Myrtle Beach-
39
509,794
14.1%
21.5%
$51,942
7.8%
6.5%
4.8%
28.7%
5.7%
14.7%
8.5%
Conway -North
Myrtle Beach,
SC -NC
Santa Cruz-
40
267,792
13.5%
24.9%
$78,432
-3.9%
2.3%
4.0%
36.1%
6.1%
18.7%
6.8%
Watsonville, CA
Barnstable Town,
41
232,411
12.2%
27.2%
$82,254
-5.1%
6.5%
4.0%
33.2%
3.8%
4.6%
6.8%
MA
Idaho Falls, ID
42
162,786
11.0%
21.4%
$60,786
17.2%
5.4%
3.0%
28.0%
3.6%
34.6%
5.0%
Wilmington, INC
43
291,833
13.4%
24.8%
$57,139
9.0%
5.0%
5.3%
27.9%
3.3%
17.9%
7.9%
Gainesville, GA
44
207,369
9.1%
22.5%
$57,339
10.6%
3.5%
5.6%
23.3%
7.1%
26.9%
8.8%
San Diego -Chula
45
3,286,069
12.7%
27.1%
$63,081
1.3%
4.0%
5.8%
26.6%
5.5%
14.1%
7.8%
Vista -Carlsbad, CA
Tampa -St.
46
3,219,514
11.0%
25.1%
$58,924
6.6%
4.0%
4.1%
23.6%
8.8%
17.0%
7.8%
Petersburg -
Clearwater, FL
New York -Newark-
47
19,768,458
10.9%
33.0%
$74,303
-2.8%
2.9%
5.7%
26.0%
5.6%
7.5%
5.8%
Jersey City, NY -
NJ -PA
Sioux Falls, SD
48
281,958
14.7%
27.1%
$76,924
6.1%
3.5%
3.1%
26.6%
4.4%
8.8%
5.9%
Colorado Springs,
49
762,793
13.6%
24.6%
$60,653
8.7%
4.0%
3.1%
28.4%
6.7%
18.0%
5.1%
CO
Durham -Chapel
50
654,012
8.3%
28.3%
$66,021
9.1%
4.1%
3.0%
29.3%
2.9%
17.3%
7.8%
Hill, NC
Los Angeles -Long
51
12,997,353
13.6%
27.7%
$66,614
-1.6%
3.5%
5.6%
24.0%
5.6%
11.6%
7.6%
Beach -Anaheim, CA
Port St. Lucie, FL
52
503,521
15.2%
22.0%
$67,618
9.9%
4.3%
3.2%
27.3%
6.7%
11.7%
4.6%
Santa Maria -Santa
53
446,475
17.8%
21.7%
$66,180
7.5%
4.2%
5.8%
17.7%
6.2%
13.3%
5.3%
Barbara, CA
Atlantic City-
54
274,966
11.1%
23.1%
$60,006
-6.0%
8.5%
5.1%
30.2%
6.5%
0.7%
8.8%
Hammonton, NJ
Napa, CA
55
136,207
12.1%
23.9%
$80,852
-3.9%
2.9%
6.2%
29.2%
6.9%
3.8%
6.2%
Atlanta -Sandy
56
6,144,050
10.2%
27.6%
$63,783
5.8%
3.6%
4.7%
22.0%
5.0%
16.2%
8.0%
Springs -Alpharetta,
GA
Dallas -Fort Worth-
57
7,759,615
11.0%
25.7%
$64,252
9.1%
4.7%
4.9%
15.1%
5.6%
18.0%
6.9%
Arlington, TX
Ogden -Clearfield,
58
706,696
11.7%
25.9%
$55,855
11.7%
3.5%
2.3%
27.0%
6.5%
23.3%
4.6%
UT
Kahului-Wailuku-
59
164,221
8.8%
27.8%
$52,232
-7.2%
13.2%
3.9%
15.7%
3.9%
-2.1%
13.5%
Lahaina, HI
Manchester -Nashua,
60
424,079
7.8%
30.9%
$70,329
-1.4%
2.2%
1.2%
30.9%
6.8%
15.3%
9.1%
NH
Charleston -North
61
813,052
12.0%
24.4%
$61,278
6.4%
3.7%
4.0%
26.7%
4.8%
13.9%
7.6%
Charleston, SC
Spokane -Spokane
62
593,466
11.9%
23.0%
$53,975
6.9%
5.2%
3.7%
24.2%
6.7%
17.8%
6.7%
Valley, WA
*Shaded rows denote heartland metropolitan stabstical areas.
32 HEARTLAND FORWARD
OVERALL
2021
Young Firm
Young Firm
2021PER
2016-2021
2020-2021
June.2021-
2016-2021
2020-2021
2016-2021
2020-2021
RANKING
POPULATION
Employment
Knowledge
CAPITA
EMPLOYMENT
EMPLOYMENT
June.2022
AVERAGE
AVERAGE
GDP
GDP
Share
Intensity
PERSONAL
GROWTH
GROWTH
EMPLOYMENT
ANNUAL
ANNUAL
GROWTH
GROWTH
INCOME
GROWTH
PAY
PAY
hW_GROWTH
GROWTH
Portland-
63
2,511,612
10.0%
28.0%
$64,888
2.2%
2.4%
3.8%
25.0%
7.6%
16.5%
6.2%
Vancouver -
Hillsboro, OR -WA
Fargo, ND -MN
64
252,136
16.0%
25.8%
$66,994
2.1%
3.4%
2.9%
26.0%
4.5%
11.1%
6.9%
Missoula, MT
65
119,533
11.5%
22.7%
$65,330
4.5%
4.2%
1.9%
28.4%
5.2%
18.4%
8.2%
Asheville, NC
66
472,341
11.5%
25.4%
$57,899
3.3%
5.2%
4.0%
25.0%
3.8%
16.4%
7.6%
Grants Pass, OR
67
88,346
17.5%
18.9%
$55,219
12.1%
3.8%
2.3%
21.1%
2.2%
31.7%
8.3%
College Station-
68
272,041
14.0%
21.0%
$50,257
9.3%
4.7%
6.8%
26.0%
5.5%
13.9%
2.6%
Bryan, TX
Portland -South
69
556,893
9.7%
27.4%
$67,383
2.4%
4.7%
0.7%
25.3%
5.7%
18.3%
7.6%
Portland, ME
Deltona-Daytona
70
685,344
13.1%
22.4%
$54,741
5.3%
4.9%
3.5%
26.3%
5.4%
14.9%
6.9%
Beach -Ormond
Beach, FL
Riverside -San
71
4,653,105
14.5%
19.5%
$47,743
11.5%
5.4%
5.5%
22.6%
4.2%
15.1%
6.2%
Bernardino -Ontario,
CA
Stockton, CA
72
789,410
11.3%
22.2%
$55,239
10.3%
4.5%
5.0%
19.5%
6.2%
16.8%
6.1%
Jacksonville, FL
73
1,637,666
10.5%
24.0%
$60,032
9.5%
3.9%
3.7%
24.3%
2.9%
20.2%
6.8%
Charlotte -Concord-
74
2,701,046
9.5%
25.5%
$64,240
8.4%
3.8%
4.0%
23.9%
2.4%
17.5%
6.6%
Gastonia, NC -SC
Bellingham, WA
75
228,831
13.4%
25.2%
$55,514
-0.6%
2.7%
4.9%
23.5%
4.3%
23.4%
7.5%
Knoxville, TN
76
893,412
7.9%
23.5%
$61,695
3.6%
3.2%
3.8%
28.2%
5.6%
15.9%
8.5%
Palm Bay-
77
616,628
12.6%
25.1%
$56,061
12.0%
4.5%
1.5%
24.5%
2.2%
21.8%
6.6%
Melbourne -Titusville,
FL
Blacksburg-
78
165,293
8.1%
26.7%
$48.709
0.0%
4.6%
6.6%
23.9%
5.3%
10.7%
8.5%
Christiansburg, VA
Charlottesville, VA
79
222,688
12.5%
26.6%
$76,856
0.8%
2.6%
2.3%
24.6%
4.9%
11.2%
6.5%
Santa Fe, NM
80
155,201
11.5%
23.4%
$74,447
-5.0%
3.1%
3.4%
29.4%
10.1%
-1.6%
6.4%
Savannah, GA
81
410,008
12.4%
21.8%
$56,144
8.3%
5.3%
4.1%
22.8%
1.8%
12.3%
8.8%
Sacramento-
82
2,411,428
13.6%
26.1%
$62,067
5.8%
3.7%
4.0%
17.3%
5.2%
13.8%
5.7%
Roseville -Folsom,
CA
Jacksonville, NC
83
206,160
10.7%
20.4%
$56,711
5.2%
5.4%
4.4%
29.9%
2.2%
13.9%
6.8%
Huntsville, AL
84
502,728
9.3%
25.6%
$63,178
10.1%
4.1%
2.S%
26.1%
0.5%
18.9%
5.9%
Albany-
85
899,286
8.0%
28.3%
$68,365
-4.4%
1.6%
2.8%
29.6%
6.5%
12.6%
7.2%
Schenectady -Troy,
NY
Hilton Head Island-
86
222,072
15.7%
24.0%
$66,871
7.0%
3.2%
1.7%
20.9%
0.4%
18.9%
8.0%
Bluffton, SC
Ocala, FL
87
385,915
12.4%
21.1%
$48,057
8.9%
3.7%
3.3%
23.5%
5.0%
19.4%
7.5%
Burlington, INC
88
173,877
8.9%
22.6%
$53,725
5.2%
4.9%
1.3%
31.3%
6.4%
9.1%
8.1%
Rapid City, SD
89
141,979
10.0%
19.0%
$66,678
4.6%
5.2%
3.3%
24.8%
7.0%
10.7%
5.0%
Philadelphia-
90
6,228,601
9.6%
28.0%
$72,955
-1.2%
3.0%
3.9%
25.6%
5.8%
3.0%
4.8%
Camden -
Wilmington, PA -NJ -
DE -MD
Yuba City, CA
91
182,484
16.6%
24.4%
$50,398
9.2%
2.3%
4.5%
18.1%
6.4%
12.9%
3.8%
Bremerton-
92
274,314
14.1%
25.5%
$65,433
2.4%
1.4%
3.4%
31.8%
3.9%
9.6%
2.9%
Silverdale -Port
Orchard, WA
Worcester, MA -CT
93
978,447
9.8%
27.8%
$64,539
-1.1%
3.6%
3.5%
28.3%
4.8%
4.6%
4.8%
Allentown-
94
865,310
7.4%
26.2%
$63,693
0.7%
4.5%
3.8%
24.2%
5.8%
6.2%
5.9%
Bethlehem -Easton,
PA -NJ
Chattanooga,
95
567,641
8.6%
23.2%
$59,744
3.4%
1.9%
3.5%
29.4%
6.1%
10.3%
7.0%
TN -GA
Salem, OR
96
436,283
14.9%
21.1%
$52,015
5.1%
3.0%
3.2%
23.5%
5.5%
17.6%
5.5%
Columbus, OH
97
2,151,017
8.4%
27.3%
$63,002
3.4%
3.2%
3.1%
21.3%
3.3%
14.3%
7.7%
Longview, WA
98
111524
11.8%
21.3%
$55,217
4.2%
3.3%
3.9%
25.7%
7.2%
14.9%
3.1%
*Shaded rows denote heartland metropolitan statistical areas.
HEARTLAND FORWARD 33
OVERALL
2021
Young Firm
Young Firm
2021PER
2016-2021
2020-2021
June.2021-
2016-2021
2020-2021
2016-2021
2020-2021
RANKING
POPULATION
Employment
Knowledge
CAPITA
EMPLOYMENT
EMPLOYMENT
June.2022
AVERAGE
AVERAGE
GDP
GDP
Share
Intensity
PERSONAL
GROWTH
GROWTH
EMPLOYMENT
ANNUAL
ANNUAL
GROWTH
GROWTH
INCOME
GROWTH
PAY
PAY
GROWTH
GROWTH
Johnson City, TN
99
208,068
8.3%
20.5%
$55,307
2.1%
3.9%
2.0%
28.5%
6.3%
17.3%
8.4%
Auburn -Opelika, AL
100
177,218
13.4%
23.3%
$50,178
4.6%
3.5%
4.6%
25.5%
3.3%
12.0%
5.2%
Lancaster, PA
101
553,652
8.7%
25.2%
$63,366
2.2%
4.1%
3.3%
26.5%
5.2%
6.4%
4.7%
Lakeland -Winter
102
753,520
9.3%
21.0%
$45,291
16.4%
6.2%
3.6%
21.5%
0.2%
21.6%
5.5%
Haven, FL
Grand Junction, CO
103
157,335
13.1%
19.3%
$56,366
6.1%
4.4%
1.9%
27.7%
6.6%
12.5%
3.7%
San Luis Obispo-
104
283,159
13.9%
23.0%
$61,367
0.2%
4.8%
4.4%
21.6%
5.7%
4.6%
3.5%
Paso Robles, CA
Homosassa Springs,
105
158,083
11.8%
20.9%
$48,015
0.0%
3.5%
4.0%
23.1%
6.1%
19.8%
7.6%
FL
New Haven -Milford,
106
863,700
7.4%
27.5%
$63,845
-1.2%
3.2%
3.7%
27.6%
6.3%
5.5%
4.3%
CT
Prescott Valley-
107
242,253
14.3%
21.2%
$52,187
6.5%
3.6%
0.2%
31.S%
4.0%
15.6%
5.8%
Prescott, AZ
Des Moines -West
108
719,146
8.0%
27.3%
$66,256
1.9%
3.0%
2.8%
24.4%
4.0%
9.3%
6.2%
Des Moines, IA
Poughkeepsie-
109
701,637
9.4%
27.8%
$56,706
-1.6%
3.3%
3.8%
24.3%
4.1%
13.1%
6.0%
Newburgh -
Middletown, NY
Kingston, NY
110
182,951
10.8%
27.7%
$60,504
-7.7%
1.8%
2.3%
29.9%
8.0%
8.9%
5.9%
Detroit -Warren-
111
4,365,205
8.9%
28.1%
$63,433
-2.7%
4.2%
2.8%
18.2%
5.5%
5.7%
8.7%
Dearborn, MI
Indianapolis-
112
2,126,804
7.9%
25.7%
$69,249
3.5%
3.7%
3.1%
22.9%
3.1%
11.3%
5.0%
Carmel -Anderson,
IN
Washington-
113
6,356,434
9.1%
32.6%
$72,591
-0.6%
2.3%
1.1%
23.4%
3.9%
8.0%
5.0%
Arlington -
Alexandria, DC -VA -
MD -WV
Mount Vernon-
114
130,696
14.4%
23.4%
$63,847
0.8%
2.3%
2.4%
29.9%
7.9%
-4.1%
3.9%
Anacortes, WA
Springfield, MO
115
481,483
9.2%
21.3%
$54,614
4.5%
3.2%
3.3%
26.2%
5.8%
12.4%
6.5%
Ann Arbor, MI
116
369,390
8.6%
31.4%
$68,858
0.3%
2.3%
3.2%
19.6%
1.6%
13.0%
6.0%
San Antonio -New
117
2,601,788
11.7%
18.3%
$55,665
4.0%
3.4%
4.2%
25.5%
4.9%
12.7%
5.9%
Braunfels, TX
Madison, WI
118
683,183
8.2%
27.6%
$71,455
1.4%
2.4%
0.7%
25.9%
4.3%
11.4%
5.7%
Kalamazoo -Portage,
119
261,108
6.5%
23.6%
$62,773
-0.9%
2.8%
3.8%
22.3%
8.0%
11.1%
6.2%
MI
Columbia, MO
120
213,123
8.5%
24.2%
$59,859
1.2%
3.7%
0.8%
30.3%
5.4%
12.5%
5.3%
Chicago -Naperville-
121
9,509,934
8.6%
29.7%
$68,293
-3.9%
1.9%
3.2%
23.1%
5.1%
5.0%
6.4%
Elgin, IL -IN -WI
Rochester, MN
122
227,151
6.7%
24.0%
$68,581
2.5%
2.6%
0.0%
25.4%
9.6%
12.6%
4.7%
Tallahassee, FL
123
385,776
10.2%
23.9%
$55,047
6.0%
4.2%
3.3%
26.1%
2.3%
9.1%
4.5%
Corvallis, OR
124
96,017
10.9%
25.1%
$53,217
-1.1%
1.9%
2.8%
24.3%
8.0%
14.5%
4.8%
Lake Havasu City-
125
217,692
11.1%
18.3%
$46,132
14.0%
7.7%
-1.4%
27.7%
1.4%
13.5%
7.5%
Kingman, AZ
Kansas City, MO -KS
126
2,199,490
9.2%
24.3%
$65,565
0.5%
2.1%
2.6%
26.2%
5.7%
10.0%
4.3%
Louisville/Jefferson
127
1,284,566
7.1%
24.8%
$64,725
0.2%
3.4%
2.3%
26.1%
4.2%
9.7%
5.9%
County, KY -IN
Tyler, TX
128
237,186
12.1%
20.9%
$63,610
2.4%
2.8%
3.1%
24.2%
5.7%
11.1%
2.7%
St. Cloud, MN
129
200,406
5.9%
23.0%
$64,002
-2.9%
1.1%
1.5%
35.1%
10.3%
5.8%
4.5%
Carson City, NV
130
58,993
12.4%
22.9%
$64,196
5.7%
2.6%
0.3%
23.4%
3.8%
18.1%
4.1%
Gainesville, FL
131
341,756
11.9%
23.7%
$52,781
4.5%
2.9%
1.3%
27.2%
1.4%
18.2%
6.1%
Birmingham-
132
1,114,262
8.5%
24.4%
$65,056
1.5%
2.9%
1.5%
26.2%
5.1%
7.8%
5.4%
Hoover, AL
Pittsfield, MA
133
128,657
10.4%
25.2%
$67,804
-9.1%
3.9%
5.1%
26.3%
5.6%
-5.6%
3.8%
Jonesboro, AR
134
134,878
11.1%
20.5%
$51,034
6.1%
2.9%
2.5%
24.8%
3.9%
18.4%
5.4%
Memphis, TN -MS-
135
1,336,103
8.6%
20.3%
$62,425
0.3%
1.9%
2.6%
31.4%
6.7%
5.2%
5.9%
AR
Providence-
136
1,675,774
8.8%
26.4%
$63,801
2.4%
4.1%
3.5%
21.4%
3.4%
4.2%
5.7%
777
Warwick, RI -MA
*Shaded rows denote heartland metropolitan statistical areas.
34 HEARTLAND FORWARD
Ilk
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
OR_GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Cincinnati, OH-
KY -IN
137
2,259,935
8.4%
25.5%
$66,901
1.3%
3.2%
2.1%
20.9%
3.1%
11.7%
6.0%
Greenville-
Anderson, SC
138
940,774
10.2%
24.2%
$54,439
3.6%
3.3%
4.1%
20.9%
1.4%
11.6%
6.6%
Ames, IA
139
126,195
9.1%
28.2%
$54,041
-2.2%
3.1%
1.6%
24.6%
6.8%
9.0%
4.S%
Burlington -South
Burlington, VT
140
226,611
8.0%
30.3%
$63,408
-3.7%
3.2%
0.8%
23.8%
5.9%
5.7%
5.3%
Minneapolis -St.
Paul -Bloomington,
MN -WI
141
3,690,512
8.4%
29.6%
$69,425
-1.1%
2.4%
2.0%
20.4%
2.9%
7.5%
5.9%
Richmond, VA
142
1,324,062
9.3%
26.4%
$67,233
-0.6%
1.8%
2.7%
25.5%
2.5%
9.2%
5.0%
Panama City, FL
143
179,168
11.9%
20.7%
$55,752
-1.9%
5.1%
1.3%
25.9%
3.5%
10.1%
6.8%
Bloomington, IN
144
161,321
9.2%
25.1%
$55,144
3.8%
3.0%
2.4%
25.1%
5.2%
7.3%
3.7%
Medford, OR
145
223,734
11.7%
20.3%
$55,661
3.9%
2.4%
0.5%
22.5%
7.7%
13.5%
6.1%
Springfield, OH
146
135,633
9.1%
20.8%
$54,993
-5.1%
2.2%
2.5%
30.3%
8.7%
2.9%
7.1%
Omaha -Council
Bluffs, NE -IA
147
971,637
9.0%
24.7%
$68,593
-0.8%
1.4%
1.6%
25.7%
5.5%
10.4%
4.0%
Pensacola -Ferry
Pass -Brent, FL
148
516,388
8.9%
21.8%
$54,841
7.2%
2.5%
2.7%
24.9%
2.9%
12.4%
5.8%
Tucson, AZ
149
1,052,030
9.1%
20.5%
$56,975
2.7%
1.9%
2.3%
31.0%
5.1%
11.8%
4.3%
Jackson, MI
150
160,050
7.3%
21.4%
$50,643
-4.2%
5.1%
4.8%
19.2%
1.6%
17.8%
9.0%
Grand Rapids-
Kentwood, MI
151
1,091,620
7.3%
24.3%
$59,642
-0.6%
4.0%
4.4%
21.1%
1.2%
8.7%
6.8%
Salinas, CA
152
437,325
16.1%
19.3%
$58,066
0.2%
2.8%
6.4%
15.5%
5.7%
5.2%
1.8%
Winston-Salem, NC
153
681,438
7.9%
22.1%
$57,956
2.3%
3.1%
2.3%
25.4%
4.2%
3.7%
7.7%
Dubuque, IA
154
98,718
5.1%
22.8%
$64,577
-2.1%
1.5%
1.6%
28.7%
6.3%
16.6%
5.3%
Redding, CA
155
182,139
14.9%
20.3%
$55,302
1.7%
2.1%
2.2%
26.4%
7.2%
8.1%
1.6%
Iowa City, IA
156
177,239
8.9%
27.7%
$64,981
-3.5%
1.7%
2.3%
24.2%
6.5%
5.4%
3.2%
Norwich -New
London, CT
157
268,805
7.6%
26.0%
$63,857
-9.1%
3.1%
2.8%
26.1%
5.9%
4.3%
5.4%
Morristown, TN
158
143,855
7.8%
19.1%
$52,342
4.0%
2.0%
3.1%
22.6%
5.4%
14.6%
8.2%
Clarksville, TN -KY
159
328,304
10.9%
21.1%
$52,472
5.4%
2.9%
3.3%
26.3%
2.4%
7.4%
5.2%
Salisbury, MD -DE
160
429,223
12.2%
21.9%
$59,281
3.3%
5.3%
2.0%
19.0%
1.0%
5.7%
6.3%
Modesto, CA
161
552,999
12.4%
21.6%
$50,840
2.9%
2.6%
3.5%
19.2%
6.1%
11.9%
3.7%
Fresno, CA
162
1,013,581
15.7%
20.0%
$50,634
4.7%
3.4%
4.5%
17.6%
5.4%
8.2%
1.2%
Albuquerque, NM
163
918,259
8.6%
17.9%
$56,646
0.3%
2.8%
4.0%
27.5%
5.5%
8.4%
5.1%
Lebanon, PA
164
143,493
7.1%
22.3%
$58,094
1.3%
3.5%
1.6%
26.3%
4.4%
9.6%
6.0%
Brunswick, GA
165
113,963
12.3%
22.3%
$57,022
0.6%
4.5%
3.6%
19.1%
3.1%
4.5%
4.5%
Oxnard -Thousand
Oaks -Ventura, CA
166
839,784
12.6%
24.6%
$65,865
-1.2%
2.0%
4.0%
19.6%
3.4%
5.3%
3.0%
Sherman -Denison,
TX
167
139,336
12.0%
20.9%
$55,875
6.8%
2.9%
-1.5%
26.0%
6.1%
10.7%
5.0%
Winchester, VA -WV
168
145,155
7.1%
25.5%
$58,136
7.0%
2.9%
2.6%
21.8%
1.5%
11.3%
4.7%
Fort Wayne, IN
169
423,038
6.8%
21.4%
$59,284
2.3%
3.0%
3.1%
25.3%
3.6%
7.6%
6.1%
Lincoln, NE
170
342,117
9.1%
26.5%
$61,136
-1.1%
1.1%
1.2%
24.9%
6.9%
10.8%
3.1%
Vallejo, CA
171
451,716
13.2%
24.3%
$59,834
-2.3%
0.3%
4.6%
21.3%
-0.4%
30.0%
2.1%
Billings, MT
172
187,037
9.0%
18.8%
$64,538
2.7%
3.2%
3.0%
24.0%
3.8%
5.9%
5.1%
Springfield, MA
173
695,305
9.5%
23.8%
$62,914
-3.0%
4.3%
3.5%
20.8%
3.8%
1.6%
4.2%
Lansing -East
Lansing, MI
174
540,281
8.5%
25.1%
$53,495
-3.8%
2.8%
3.7%
21.7%
3.5%
8.9%
6.8%
Abilene, TX
175
177,314
11.5%
18.1%
$60,368
6.1%
2.2%
2.2%
25.9%
1.1%
19.6%
3.4%
Cleveland -Elyria, OH
176
2,075,662
7.4%
25.1%
$65,761E
1.7%
1.6%
25.4%
4.4%
7.7%
6.5%
Visalia, CA
177
477,054
16.0%
16.5%
$48,4813.7%
7.6%
18.2%
4.7%
7.8%
-0.4%
Twin Falls, ID
178
116,905
11.9%
18.9%
$49,9183.9%
0.9%
27.4%
2.5%
14.3%
2.6%
Waco, TX
179
280,428
10.6%
18.5%
$51,9094.1%
3.2%
21.1%
1.8%
13.1%
5.5%
Glens Falls, NY
180
126,574
8.0%
22.0%
$58,5842.9%
1.7%
29.4%
5.1%
10.3%
6.4%
*Shaded rows denote heartland metropolitan statistical areas.
HEARTLAND FORWARD 35
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
GROWTH
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Eugene -Springfield,
OR
181
383,189
10.0%
22.5%
$54,810
-0.5%
2.1%
2.0%
22.5%
6.3%
10.1%
5.3%
Lexington -Fayette,
KY
182
517,846
10.2%
25.5%
$62,519
-1.6%
2.4%
2.0%
22.6%
3.8%
6.4%
4.2%
Harrisburg -Carlisle,
PA
183
596,305
8.0%
28.3%
$62,048
-0.5%
2.5%
2.6%
22.9%
1.6%
4.8%
4.5%
Columbus, IN
184
82,475
5.3%
27.1%
$66,457
-5.0%
0.7%
3.3%
17.6%
5.0%
7.4%
8.5%
Eau Claire, WI
185
173,317
7.8%
23.2%
$59,631
-0.2%
3.0%
2.0%
25.8%
3.9%
6.9%
4.7%
Baltimore-
Columbia -Towson,
MD
186
2,838,327
8.2%
28.4%
$67,126
-2.5%
1.9%
1.4%
23.9%
3.5%
3.8%
4.4%
Hickory -Lenoir-
Morganton, NC
187
366,441
8.5%
20.0%
$54,374
0.8%
2.3%
3.2%
27.5%
4.6%
3.5%
6.4%
York -Hanover, PA
188
458,696
6.9%
22.3%
$59,752
-1.8%
3.2%
3.3%
23.0%
6.0%
2.1%
5.1%
Greenville, NC
189
172,169
8.6%
21.0%
$59,361
1.9%
2.8%
3.3%
25.5%
2.2%
4.4%
5.8%
Jackson, TN
190
180,799
7.8%
19.4%
$56,991
1.5%
2.5%
2.2%
23.2%
4.1%
11.4%
7.7%
Brownsville-
Harlingen, TX
191
423,029
10.4%
13.3%
$42,850
4.6%
5.3%
3.9%
24.9%
3.2%
10.9%
6.0%
Dover, DE
192
184,149
9.0%
20.6%
$52,590
1.3%
3.0%
0.8%
29.0%
1.5%
19.0%
6.0%
Champaign -Urbana,
IL
193
222,696
8.9%
24.2%
$59,170
1.3%
2.7%
3.0%
22.9%
3.6%
1.5%
4.0%
Houston -The
Woodlands -Sugar
Land, TX
194
7,206,841
11.4%
23.5%
$65,007
2.5%
2.4%
4.7%
16.3%
2.7%
3.0%
1.9%
Pocatello, ID
195
96,213
10.8%
20.4%
$50,933
5.3%
3.2%
3.3%
22.6%
3.5%
8.1%
2.7%
Bloomington, IL
196
170,889
6.4%
26.2%
$62,855
-5.1%
2.2%
6.9%
22.2%
1.5%
-2.2%
4.1%
Binghamton, NY
197
245,220
6.1%
24.1%
$54,213
-8.6%
1.6%
1.6%
33.8%
8.0%
3.4%
5.2%
Buffalo-
Cheektowaga, NY
198
1,162,336
7.6%
25.3%
$59,727
-7.0%
2.2%
2.6%
28.5%
3.3%
4.9%
5.3%
Syracuse, NY
199
658,281
7.3%
24.5%
$60,250
-5.7%
1.5%
1.7%
28.6%
5.5%
5.0%
5.4%
Athens -Clarke
County, GA
200
217,759
12.2%
27.0%
$51,183
3.9%
3.9%
0.1%
19.3%
-0.3%
10.6%
5.6%
Bowling Green, KY
201
182,594
8.5%
22.5%
$48,939
0.7%
4.3%
2.5%
16.3%
4.4%
11.8%
5.8%
Dothan, AL
202
151,618
9.3%
20.2%
$57,241
3.1%
1.8%
2.1%
24.6%
5.3%
7.7%
4.1%
Battle Creek, MI
203
133,819
7.1%
21.9%
$52,752
-9.9%
2.3%
3.2%
21.9%
3.5%
11.7%
11.4%
Kennewick-
Richland, WA
204
308,293
13.4%
23.2%
$51,820
5.7%
3.6%
1.0%
18.7%
3.0%
8.3%
2.9%
Greeley, CO
205
340,036
14.0%
21.1%
$59,189
6.8%
0.0%
4.5%
31.1%
4.9%
7.6%
-6.7%
Pueblo, CO
206
169,622
12.8%
15.8%
$51,616
2.7%
1.1%
2.9%
27.5%
2.9%
10.1%
6.6%
Ithaca, NY
207
105,162
5.3%
31.2%
$50,196
-8.0%
0.9%
1.4%
29.3%
5.2%
4.4%
7.1%
Sioux City, IA-
NE -SD
208
149,265
6.4%
21.7%
$66,657
-4.3%
2.1%
3.1%
17.7%
5.0%
11.1%
6.5%
McAllen -Edinburg-
Mission, TX
209
880,356
11.7%
13.6%
$39,317
7.2%
4.0%
3.7%
22.0%
5.5%
10.9%
4.5%
Utica -Rome, NY
210
290,211
6.7%
24.7%
$57,043
-5.9%
1.2%
0.8%
30.1%
8.1%
5.6%
4.6%
Waterloo -Cedar
Falls, IA
211
167,796
5.4%
22.7%
$60,283
-3.4%
1.8%
1.2%
24.9%
6.0%
8.6%
7.0%
East Stroudsburg,
PA
212
169,273
10.8%
23.2%
$54,281
-2.9%
4.5%
2.2%
22.3%
2.8%
4.7%
3.8%
State College, PA
213
157,527
9.5%
27.7%
$57,428
-6.4%
0.6%
2.0%
30.7%
5.9%
0.7%
2.2%
South Bend-
Mishawaka, IN -MI
214
323,695
6.7%
23.7%
$61,076
-5.5%
0.9%
0.9%
25.6%
7.3%
6.8%
6.4%
Pittsburgh, PA
215
2,353,538
7.8%
26.1%
$69,077
-4.8%
1.2%
0.7%
22.4%
5.6%
6.2%
4.4%
Hammond, LA
216
135,217
10.9%
19.7%
$53,209
4.7%
3.0%
0.9%
23.1%
3.8%
15.2%
2.5%
Spartanburg, SC
217
335,864
8.6%
21.4%
$54,600
11.7%
1.8%
0.9%
16.8%
0.8%
18.0%
6.8%
San Angelo, TX
218
122,344
12.0%
16.1%
$65,380
-1.4%
1.1%
3.9%
26.2%
5.7%
15.2%
-1.4%
Scranton --Wilkes-
Barre, PA
219
567,750
7.5%
24.5%
$57,040
-4.8%
1.9%
4.0%
24.7%
4.9%
0.4%
3.9%
California -Lexington
Park, MD
220
114,468
8.6%
25.9%
$68,185
7.6%
2.6%
-0.5%
20.6%
1.7%
8.6%
1.8%
*Shaded rows denote heartland metropolitan statistical areas.
36 HEARTLAND FORWARD
No
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
GROWTH
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Toledo, OH
221
644,217
8.1%
23.2%
$60,124
-5.0%
2.1%
2.1%
22.0%
4.4%
5.2%
6.7%
El Centro, CA
222
179,851
22.0%
9.8%
$49,797
1.1%
5.1%
2.6%
23.4%
5.7%
3.0%
-0.4%
Lubbock, TX
223
325,245
12.4%
17.9%
$54,333
3.5%
3.4%
2.5%
22.6%
2.8%
8.4%
2.9%
Milwaukee-
Waukesha, WI
224
1,566,487
8.2%
23.7%
$68,822
-3.7%
1.5%
0.6%
24.6%
4.7%
4.3%
4.9%
Lawrence, KS
225
119,363
9.6%
24.2%
$55,782
-5.6%
2.1%
1.4%
29.0%
5.6%
3.8%
2.8%
Bloomsburg-
Berwick, PA
226
82,959
7.5%
22.8%
$59,375
-1.9%
1.7%
1.9%
22.2%
5.6%
3.0%
6.2%
Flagstaff, AZ
227
145,052
11.5%
19.5%
$59,562
-2.7%
4.5%
2.4%
19.7%
2.4%
5.0%
4.8%
Anniston -Oxford,
AL
228
115,972
7.3%
21.0%
$50,839
-0.6%
1.7%
0.0%
31.1%
5.9%
10.4%
5.4%
Killeen -Temple, TX
229
486,101
11.4%
18.9%
$51,040
3.5%
2.7%
2.0%
24.1%
2.9%
11.0%
3.6%
Flint, MI
230
404,208
11.0%
21.8%
$55,405
-5.6%
3.7%
2.0%
19.0%
3.5%
4.2%
7.2%
Oklahoma City, OK
231
1,441,647
12.2%
22.7%
$61,612
2.7%
2.2%
3.2%
20.1%
3.2%
0.8%
0.9%
Grand Island, NE
232
76,175
7.3%
18.5%
$59,024
-2.0%
3.2%
2.0%
23.4%
7.5%
2.0%
4.5%
Lewiston -Auburn,
ME
233
111,034
7.8%
21.5%
$52,948
-2.8%
1.2%
-1.1%
26.0%
10.5%
11.7%
4.5%
Warner Robins, GA
234
195,246
11.4%
21.6%
$52,352
6.5%
2.1%
1.9%
17.5%
3.2%
10.4%
3.7%
Yuma, AZ
235
206,990
11.5%
11.7%
$49,473
2.2%
2.9%
4.5%
33.8%
4.6%
7.7%
-0.4%
Monroe, MI
236
155,274
7.1%
22.6%
$58,031
-10.3%
1.9%
6.0%
19.6%
4.9%
-1.0%
6.8%
St. Louis, MO -IL
237
2,809,299
8.2%
22.7%
$67,295
-2.2%
1.7%
2.5%
21.0%
3.0%
3.6%
5.0%
Albany -Lebanon,
OR
238
129,839
8.9%
18.3%
$51,764
5.1%
3.7%
3.5%
16.9%
4.7%
7.6%
3.2%
Dayton -Kettering,
OH
239
813,516
8.2%
24.4%
$60,055
-2.3%
1.0%
1.4%
22.9%
3.6%
10.9%
4.8%
Kingsport -Bristol,
TN -VA
240
308,661
8.3%
20.0%
$55,063
-4.3%
0.9%
3.6%
26.8%
4.7%
5.6%
5.6%
Hartford -East
Hartford -
Middletown, CT
241
1,211,906
7.2%
28.1%
$68,774
-3.9%
1.9%
2.0%
16.6%
3.3%
0.8%
5.0%
Springfield, IL
242
206,898
7.8%
24.6%
$62,191
-2.9%
2.4%
2.0%
18.7%
2.4%
3.6%
7.0%
Great Falls, MT
243
84,511
8.3%
19.1%
$61,673
-1.3%
2.8%
2.3%
27.3%
3.8%
3.9%
3.0%
Urban Honolulu, HI
244
1,000,890
7.1%
31.7%
$55,702
-11.1%
3.1%
2.6%
23.1%
2.9%
-4.7%
5.3%
Akron, OH
245
700,015
8.2%
24.2%
$62,663
-4.2%
1.3%
0.7%
21.3%
5.5%
5.6%
5.8%
Lewiston, ID -WA
246
64,851
7.9%
19.1%
$60,318
0.3%
2.2%
1.6%
26.1%
2.6%
8.2%
5.5%
Rochester, NY
247
1,084,973
7.3%
24.8%
$59,886
-6.1%
1.7%
2.6%
23.7%
4.1%
4.3%
4.9%
Bismarck, ND
248
134,417
14.7%
24.0%
$68,055
-2.1%
3.4%
1.9%
17.1%
0.4%
-4.3%
3.7%
El Paso, TX
249
871,234
11.4%
13.5%
$47,306
3.2%
2.5%
3.5%
24.3%
4.1%
13.5%
3.7%
Lafayette -West
Lafayette, IN
250
224,709
8.4%
22.9%
$50,762
2.4%
3.8%
4.5%
16.4%
-0.9%
10.4%
4.6%
Little Rock -North
Little Rock -Conway,
AR
251
750,936
9.4%
21.9%
$57,801
-0.5%
2.2%
2.5%
23.3%
2.7%
5.6%
3.9%
Appleton, WI
252
244,084
7.6%
23.2%
$62,395
-0.9%
1.8%
0.6%
21.2%
4.2%
8.7%
5.0%
Gulfport -Biloxi, MS
253
418,082
10.8%
18.4%
$49,869
0.9%
3.9%
1.2%
20.5%
3.4%
7.1%
6.4%
Harrisonburg, VA
254
135,824
8.1%
23.3%
$50,192
0.2%
2.9%
1.9%
20.5%
-1.8%
16.4%
7.9%
Altoona, PA
255
121,767
7.9%
21.7%
$60,816
-3.6%
2.7%
1.2%
25.2%
4.1%
5.4%
4.0%
Muskegon, MI
256
176,511
7.7%
19.4%
$50,703
-4.6%
5.4%
4.5%
14.8%
5.1%
0.3%
5.5%
Amarillo, TX
257
269,703
10.1%
18.3%
$59,970
1.2%
2.7%
-1.7%
26.0%
5.1%
11.4%
4.4%
Virginia Beach-
Norfolk -Newport
News, VA -NC
258
1,803,328
9.3%
22.0%
$57,999
-1.5%
1.6%
1.2%
26.1%
2.1%
3.8%
6.3%
Wenatchee, WA
259
123,342
13.5%
18.3%
$56,258
-1.6%
3.0%
-0.4%
21.8%
5.9%
6.6%
4.2%
Bangor, ME
260
152,765
7.1%
20.7%
$52,206
-1.4%
2.9%
2.3%
21.3%
4.1%
10.8%
4.9%
Evansville, IN -KY
261
313,946
7.7%
21.7%
$62,740
-2.3%
2.0%
2.0%
21.2%
2.6%
14.4%
3.3%
Decatur, AL
262
156,758
7.2%
19.7%
$53,951
6.1%
1.1%
1.8%
22.5%
6.0%
7.8%
2.9%
Topeka, KS
263
232,670
8.7%
22.1%
$60,141
-2.4%
2.4%
1.8%
20.8%
5.0%
5.4%
2.8%
*Shaded rows denote heartland metropolitan statistical areas.
HEARTLAND FORWARD 37
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
GROWTH
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Columbia, SC
264
838,250
9.6%
23.1%
$57,101
-0.1%
2.2%
2.2%
21.7%
0.7%
7.0%
4.4%
Wichita Falls, TX
265
149,013
12.0%
20.1%
$55,857
-0.7%
1.4%
1.3%
21.0%
6.3%
8.2%
2.3%
Elmira, NY
266
83,045
5.1%
23.3%
$55,155
-8.1%
0.2%
3.6%
25.8%
8.6%
-0.9%
4.9%
Victoria, TX
267
98,127
12.6%
16.5%
$63,300
-7.6%
1.2%
3.5%
22.6%
7.6%
-1.0%
2.6%
Las Cruces, NM
268
221,508
11.4%
15.2%
$52,292
-0.3%
2.1%
2.7%
27.4%
4.7%
4.4%
3.0%
Cheyenne, WY
269
100,863
10.3%
19.0%
$63,159
1.9%
2.0%
-0.8%
24.2%
2.5%
9.5%
4.7%
Mankato, MN
270
103,612
8.2%
24.5%
$60,647
-2.5%
1.3%
0.3%
26.7%
7.2%
0.3%
0.5%
Hagerstown-
Martinsburg,
MD -WV
271
298,227
7.2%
22.2%
$53,649
-2.3%
3.2%
-0.8%
30.8%
2.5%
3.7%
5.4%
Vineland -Bridgeton,
NJ
272
153,627
7.6%
22.2%
$49,111
-2.6%
3.3%
4.2%
20.7%
2.8%
1.7%
3.8%
Kankakee, IL
273
106,601
9.1%
20.2%
$57,660
-3.7%
-2.2%
2.0%
27.6%
3.7%
18.5%
4.7%
Bakersfield, CA
274
917,673
18.7%
18.0%
$45,535
4.0%
3.5%
4.0%
14.9%
2.6%
3.5%
-1.1%
Gettysburg, PA
275
104,127
10.2%
19.5%
$58,303
-3.5%
2.9%
-0.8%
26.2%
5.5%
-1.0%
5.1%
Walla Walla, WA
276
62,682
20.6%
20.0%
$54,296
2.7%
2.4%
2.7%
18.0%
-0.1%
-3.6%
0.8%
Greensboro -High
Point, NC
277
778,848
7.1%
23.2%
$55,882
-1.3%
2.5%
2.2%
22.9%
1.5%
1.1%
5.2%
Chambersburg-
Waynesboro, PA
278
156,289
6.4%
22.8%
$57,933
-0.3%
1.6%
2.9%
20.9%
2.4%
4.9%
3.9%
Shreveport -Bossier
City, LA
279
389,155
8.8%
20.3%
$61,115
-6.1%
2.1%
1.8%
26.4%
2.3%
5.4%
3.8%
Owensboro, KY
280
121,227
7.4%
22.2%
$57,059
-2.5%
2.9%
-0.2%
26.6%
5.2%
-0.5%
3.4%
Bay City, MI
281
102,985
8.8%
20.0%
$54,984
-5.2%
3.7%
1.3%
23.3%
1.2%
1.8%
7.4%
Fort Smith, AR -OK
282
245,459
8.5%
18.7%
$51,262
-3.1%
1.6%
2.3%
23.2%
4.5%
7.6%
4.9%
Davenport -Moline-
Rock Island, IA -IL
283
381,568
7.8%
20.6%
$61,491
-3.8%
2.0%
1.7%
22.6%
2.8%
5.1%
4.3%
Racine, WI
284
196,896
9.8%
19.7%
$61,707
-2.5%
2.1%
0.6%
24.7%
5.4%
-3.4%
3.3%
Fayetteville, NC
285
524,588
8.6%
20.2%
$49,674
0.9%
3.1%
2.3%
20.9%
1.6%
2.6%
5.3%
Reading, PA
286
429,342
6.2%
23.3%
$60,188
-4.0%
1.6%
3.3%
23.8%
3.4%
-0.1%
2.4%
Macon -Bibb County,
GA
287
233,883
7.6%
23.3%
$53,630
-2.4%
1.0%
1.0%
26.7%
3.2%
-1.0%
5.9%
Hinesville, GA
288
82,863
8.3%
19.0%
$43,825
7.9%
4.9%
2.4%
16.4%
-O.5%
5.9%
5.3%
New Orleans-
Metairie, LA
289
1,261,726
8.8%
22.6%
$64,953
-6.9%
2.0%
1.4%
26.2%
5.0%
-2.0%
0.7%
Mobile, AL
290
428,220
8.3%
20.2%
$52,850
0.4%
3.3%
-0.4%
26.4%
3.9%
4.0%
2.8%
Wichita, KS
291
647,919
8.1%
20.8%
$62,018
-1.5%
2.2%
2.1%
18.9%
3.4%
4.1%
2.8%
Hot Springs, AR
292
100,330
12.6%
19.8%
$52,569
0.5%
2.4%
1.8%
19.1%
0.6%
8.0%
3.8%
Sebring -Avon Park,
FL
293
103,296
12.3%
19.6%
$46,178
-2.1%
2.8%
1.9%
22.0%
4.8%
4.8%
1.5%
Florence -Muscle
Shoals, AL
294
151,517
8.6%
22.0%
$52,166
-1.9%
1.8%
2.4%
23.2%
1.7%
3.9%
4.3%
New Bern, NC
295
122,273
8.2%
21.2%
$58,922
-0.3%
2.9%
1.8%
16.7%
-0.7%
9.6%
5.8%
Tuscaloosa, AL
296
268,191
10.5%
19.7%
$49,221
-1.4%
0.5%
2.6%
24.8%
2.6%
7.6%
3.9%
Mansfield, OH
297
125,195
6.7%
21.2%
$52,336
-6.0%
2.5%
0.6%
24.6%
4.8%
4.0%
5.8%
Hattiesburg, MS
298
173,078
9.6%
19.0%
$50,265
1.9%
1.8%
2.5%
20.6%
1.8%
4.3%
5.2%
Montgomery, AL
299
385,798
8.6%
21.2%
$55,679
-2.5%
2.1%
1.0%
26.2%
2.2%
2.1%
4.1%
Laredo, TX
300
267,945
12.3%
13.6%
$45,420
0.8%
1.9%
3.6%
26.5%
6.7%
1.0%
0.0%
Fond du Lac, WI
301
104,362
7.2%
21.1%
$61,137
-1.9%
1.9%
1.1%
18.2%
3.8%
4.7%
4.5%
La Crosse -Onalaska,
WI -MN
302
139,211
6.5%
23.9%
$61,549
-2.3%
2.9%
0.3%
22.0%
-1.4%
8.4%
5.0%
Watertown -Fort
Drum, NY
303
116,295
7.9%
21.2%
$56,547
-6.7%
3.5%
1.7%
29.2%
1.4%
-4.8%
3.4%
Janesville -Beloit, WI
304
164,381
7.8%
19.2%
$56,727
0.2%
2.2%
0.3%
23.3%
1.9%
10.6%
4.1%
Odessa, TX
305
161,091
13.3%
13.8%
$55,545
2.4%
-1.0%
7.1%
21.4%
4.2%
6.9%
-2.9%
Carbondale -Marion,
IL
306
132,907
6.6%
21.3%
$56,194
-4.0%
1.4%
3.1%
17.7%
6.2%
0.7%
3.4%
*Shaded rows denote heartland metropolitan statistical areas.
38 HEARTLAND FORWARD
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
GROWTH
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Merced, CA
307
286,461
13.6%
17.4%
$46,443
4.1%
2.6%
4.7%
14.2%
2.8%
6.2%
-0.9%
Saginaw, MI
308
189,591
6.1%
20.3%
$54,071
-8.5%
2.4%
1.9%
23.3%
2.7%
6.7%
6.5%
Oshkosh -Neenah,
WI
309
171,623
5.2%
23.0%
$59,642
-2.5%
1.2%
1.2%
16.9%
3.9%
7.0%
5.5%
Joplin, MO
310
182,541
8.0%
17.5%
$50.331
0.1%
3.4%
1.8%
21.0%
4.7%
-0.7%
3.8%
Manhattan, KS
311
133,932
11.1%
22.1%
$56,475
-3.4%
1.4%
2.2%
17.1%
4.5%
-2.1%
2.9%
Florence, SC
312
199,259
9.2%
19.2%
$55,599
2.5%
1.4%
2.7%
18.9%
0.5%
4.1%
4.5%
Canton -Massillon,
OH
313
400,525
8.4%
20.8%
$57,937
-3.9%
1.8%
0.5%
23.1%
3.6%
-0.4%
5.1%
Augusta -Richmond
County, GA -SC
314
615,933
9.1%
20.7%
$53,753
2.6%
1.6%
1.0%
23.7%
0.4%
6.5%
3.1%
Wausau -Weston, WI
315
166,189
6.0%
21.4%
$63,296
-1.7%
1.6%
0.9%
21.1%
3.0%
1.7%
4.5%
Michigan City -La
Porte, IN
316
112,390
6.9%
20.9%
$54,443
-4.2%
1.7%
2.0%
19.6%
8.1%
-2.7%
2.6%
Parkersburg -Vienna,
WV
317
88,687
8.9%
19.4%
$57,758
-7.2%
3.7%
0.3%
29.2%
0.3%
-0.3%
4.5%
Tulsa, OK
318
1,023,988
9.0%
21.8%
$65,140
-0.7%
0.8%
1.9%
20.4%
2.8%
2.9%
0.3%
Jackson, MS
319
587,202
9.6%
19.9%
$58,421
-4.5%
0.6%
1.4%
23.7%
4.0%
1.2%
3.7%
Cleveland, TN
320
127,938
7.6%
21.4%
$51,587
0.8%
-2.8%
2.6%
25.0%
4.5%
4.5%
4.2%
Grand Forks,
ND -MN
321
103,462
7.1%
20.4%
$64,706
-6.7%
1.0%
0.8%
23.6%
4.7%
3.0%
2.9%
Rockford, IL
322
336,278
5.6%
23.7%
$54,742
-8.3%
0.5%
4.4%
18.9%
2.9%
-0.3%
5.5%
Elizabethtown -Fort
Knox, KY
323
156,766
10.1%
20.6%
$57,208
-6.1%
0.4%
0.1%
19.8%
4.8%
7.6%
4.9%
Chico, CA
324
208,309
12.7%
20.9%
$53,351
-4.8%
2.5%
0.9%
22.4%
3.9%
0.1%
0.1%
Erie, PA
325
269,011
8.1%
23.3%
$57,219
-6.4%
2.1%
2.5%
19.9%
2.6%
-3.6%
3.4%
Yakima, WA
326
256,035
16.1%
18.6%
$52,059
0.8%
1.4%
1.1%
19.6%
1.8%
7.2%
-0.2%
Roanoke, VA
327
314,496
7.3%
24.0%
$57,510
-4.0%
1.2%
1.6%
19.6%
1.2%
2.2%
4.8%
Baton Rouge, LA
328
871,905
9.7%
21.2%
$60,518
-2.9%
3.4%
2.8%
19.7%
2.1%
-10.5%
0.9%
Youngstown-
Warren -Boardman,
OH -PA
329
538,069
8.7%
21.0%
$55,949
-9.3%
1.8%
2.2%
22.4%
3.2%
-0.8%
4.3%
Sheboygan, WI
330
117,747
7.4%
20.2%
$62,620
-1.9%
1.0%
0.7%
22.0%
3.3%
-0.6%
4.0%
Hanford -Corcoran,
CA
331
153,443
14.9%
16.1%
$43,799
2.0%
0.1%
4.1%
20.3%
4.1%
6.8%
-1.0%
Green Bay, WI
332
329,490
6.8%
21.6%
$63,060
-1.4%
1.5%
0.7%
20.4%
2.6%
1.0%
2.9%
Sumter, SC
333
135,782
7.8%
17.4%
$53,762
-1.9%
1.5%
0.0%
24.5%
0.6%
9.8%
6.8%
Morgantown, WV
334
140,745
8.6%
24.5%
$52,345
O.5%
4.0%
1.3%
19.8%
-2.2%
-0.2%
1.8%
Valdosta, GA
335
149,152
9.1%
22.0%
$48,237
-1.6%
0.9%
0.8%
24.1%
1.1%
9.5%
2.4%
Niles, MI
336
153,101
8.2%
21.7%
$64,749
-7.2%
2.4%
2.7%
18.1%
0.6%
-0.2%
2.3%
Huntington-
Ashland, WV -KY -OH
337
356,581
10.6%
21.6%
$53,651
-3.0%
2.1%
1.2%
21.5%
0.5%
0.3%
3.1%
Alexandria, LA
338
150,890
9.3%
19.6%
$58,069
-4.3%
2.0%
0.6%
24.8%
1.7%
1.4%
2.6%
Lima, OH
339
101,670
5.7%
23.4%
$56,545
-4.0%
1.3%
0.6%
18.2%
4.4%
-0.7%
4.8%
Rome, GA
340
98,771
8.4%
22.2%
$49,276
0.6%
2.9%
1.8%
14.0%
0.7%
-4.1%
6.1%
Columbus, GA -AL
341
327,536
10.1%
21.8%
$53,206
-1.3%
0.4%
1.0%
22.1%
1.5%
4.5%
2.4%
Corpus Christi, TX
342
422,778
10.6%
15.6%
$55,490
-4.6%
1.1%
2.8%
19.9%
3.4%
6.6%
1.9%
Madera, CA
343
159,410
16.6%
17.5%
$45,714
7.0%
4.1%
3.0%
16.3%
-2.6%
3.2%
-2.9%
Midland, MI
344
83,457
9.1%
21.8%
$67,705
-5.1%
4.6%
2.5%
16.2%
-3.4%
-0.3%
0.6%
Decatur, IL
345
102,432
5.4%
18.6%
$62,989
-9.5%
-0.2%
1.2%
21.5%
6.8%
-7.4%
7.6%
Cedar Rapids, IA
346
275,435
6.2%
23.6%
$64,311
-3.5%
1.5%
1.3%
16.4%
1.3%
-0.1%
2.9%
Duluth, MN -WI
347
290,780
6.3%
20.7%
$60,489
-4.9%
2.5%
0.3%
26.2%
-2.0%
3.8%
4.1%
Staunton, VA
348
125,774
8.1%
21.7%
$55,937
-1.1%
1.1%
3.0%
12.3%
-0.6%
4.2%
5.1%
Longview, TX
349
287,868
11.9%
18.2%
$52,691
-3.5%
0.8%
3.1%
16.2%
3.3%
1.4%
1.7%
Anchorage, AK
350
398,807
8.1%
21.8%
$63,130
-5.2%
2.9%
3.0%
19.3%
-1.9%
-3.5%
1.6%
Shaded rows denote heartland metropolitan statistical areas.
HEARTLAND FORWARD 39
OVERALL
RANKING
2021
POPULATION
Young Firm
Employment
Share
Young Firm
Knowledge
Intensity
2021PER
CAPITA
PERSONAL
INCOME
2016-2021
EMPLOYMENT
GROWTH
2020-2021
EMPLOYMENT
GROWTH
June.2021-
June.2022
EMPLOYMENT
GROWTH
2016-2021
AVERAGE
ANNUAL
PAY
GROWTH
2020-2021
AVERAGE
ANNUAL
PAY
GROWTH
2016-2021
GDP
GROWTH
2020-2021
GDP
GROWTH
Terre Haute, IN
351
184,910
8.1%
20.8%
$52,107
-5.8%
1.1%
0.3%
20.0%
4.1%
0.0%
5.0%
Williamsport, PA
352
113,605
7.3%
19.7%
$54,992
-6.5%
0.4%
1.5%
22.6%
6.1%
-0.4%
1.2%
Casper, WY
353
79,555
11.3%
17.4%
$76,825
-4.6%
0.7%
2.3%
18.4%
3.3%
-8.3%
-1.7%
Jefferson City, MO
354
150,706
8.4%
19.7%
$58,145
-0.9%
0.0%
1.6%
16.9%
4.1%
3.5%
0.9%
Cumberland, MD-
WV
355
94,586
8.9%
21.0%
$52,143
-6.5%
2.6%
3.7%
23.4%
-0.4%
-6.3%
0.6%
Johnstown, PA
356
132,167
10.1%
22.9%
$57,128
-10.5%
0.9%
1.3%
22.3%
2.7%
-2.0%
0.5%
Lafayette, LA
357
479,212
10.2%
21.1%
$57,577
-3.9%
2.1%
1.0%
15.4%
1.8%
-1.5%
1.4%
Goldsboro, INC
358
116,835
7.0%
19.9%
$55,344
-4.3%
0.1%
-1.4%
27.9%
-0.2%
7.0%
5.7%
Dalton, GA
359
142,799
8.8%
19.0%
$49,214
-5.4%
2.9%
2.4%
12.6%
-1.6%
3.3%
6.9%
Lynchburg, VA
360
262,258
8.4%
23.0%
$51,905
-3.5%
0.6%
1.0%
18.4%
-0.1%
3.4%
3.1%
Muncie, IN
361
111,871
6.9%
21.8%
$50,852
-4.6%
0.5%
0.0%
25.8%
2.0%
3.3%
1.8%
Weirton-
Steubenville,
WV -OH
362
115,585
6.1%
22.6%
$54,440
-5.5%
2.4%
2.1%
15.7%
0.8%
9.0%
-1.1%
Peoria, IL
363
398,224
6.7%
20.8%
$61,645
-6.8%
1.3%
3.9%
11.7%
0.5%
-7.4%
4.7%
Lawton, OK
364
127,543
10.3%
18.7%
$54,648
-6.3%
-0.1%
0.0%
27.4%
2.2%
-3.0%
1.4%
Texarkana, TX -AR
365
147,174
11.1%
17.0%
$50,976
-3.8%
1.5%
-0.3%
21.3%
2.9%
-1.7%
1.3%
Danville, IL
366
73,095
6.1%
21.2%
$55,764
-8.7%
-0.5%
3.6%
12.5%
2.2%
1.6%
3.4%
Albany, GA
367
147,773
7.8%
18.1%
$51,041
-2.0%
0.6%
0.7%
23.6%
0.0%
1.4%
1.5%
Rocky Mount, INC
368
143,535
6.4%
19.5%
$55,577
-4.4%
2.1%
-2.2%
22.3%
2.0%
-18.3%
8.1%
Charleston, WV
369
255,020
9.2%
22.9%
$56,942
-9.4%
1.5%
-0.4%
20.9%
-0.7%
-5.7%
2.8%
Beckley, WV
370
113,698
8.2%
21.3%
$51,860
-4.8%
1.3%
-0.6%
16.8%
-1.6%
7.1%
3.5%
Fairbanks, AK
371
95,593
9.1%
22.1%
$62,841
-4.3%
1.2%
0.8%
12.9%
-3.2%
-1.7%
2.9%
Sierra Vista-
Douglas, AZ
372
126,050
16.5%
15.1%
$55,707
0.5%
-2.1%
-2.8%
28.5%
0.3%
4.7%
-0.7%
Lake Charles, LA
373
210,362
9.2%
19.9%
$56,605
-11.4%
0.0%
-3.1%
24.2%
5.9%
-5.4%
1.5%
Pine Bluff, AR
374
86,412
7.2%
19.3%
$47,128
-7.8%
-1.3%
-1.3%
21.9%
1.4%
-1.9%
8.2%
Monroe, LA
375
204,884
8.7%
20.1%
$54,230
-6.0%
1.2%
1.7%
17.8%
-1.4%
-6.7%
0.2%
Kokomo, IN
376
83,687
7.5%
30.6%
$51,790
-11.4%
-2.3%
-4.7%
6.9%
0.9%
4.4%
10.5%
Gadsden, AL
377
103,162
7.9%
20.7%
$50,328
-12.5%
-1.1%
1.3%
22.6%
1.9%
-7.4%
1.5%
Houma -Thibodaux,
LA
378
206,212
7.7%
18.8%
$56,293
-9.6%
-1.2%
-1.2%
21.5%
8.2%
-12.1%
-3.4%
Wheeling, WV -OH
379
137,740
6.9%
18.7%
$56,813
-8.2%
2.1%
-0.8%
21.2%
-0.2%
2.6%
-6.7%
Farmington, NM
380
120,993
8.2%
14.4%
$46,651
-12.1%
-0.2%
3.6%
21.7%
5.3%
-15.7%
-4.1%
Beaumont -Port
Arthur, TX
381
395,419
11.3%
18.7%
$52,518
-7.4%
-1.3%
4.0%
11.7%
-1.8%
-12.3%
-3.2%
Enid, OK
382
61,926
9.3%
19.5%
$55,846
-12.5%
-0.6%
-0.7%
5.1%
4.6%
-31.1%
5.7%
Cape Girardeau,
MO -IL
97,699
8.1%
$54,708
-1.8%
0.6%
1.3%
18.1%
4.6%
-0.3%
2.6%
St. Joseph, MO -KS
120,424
6.3%
$52,238
-5.8%
-0.3%
-0.4%
23.4%
3.9%
3.3%
2.0%
*Shaded rows denote heartland metropolitan statistical areas.
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