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Florida cities get high rankings

The Tampa Bay region and six other metropolitan areas in the state are among the nation's top 20, based on economic performance and job creation.

By Times Staff Writer
Published November 17, 2004

Seven of Florida's metropolitan areas dominate this year's rankings, released today, of the nation's top 20 performing cities by the Milken Institute.

The index ranks the top 200 U.S. metro areas based on their economic performance and their ability to create, as well as keep, the greatest number of jobs.

The index is calculated using nine component statistics, including long- and short-term job and wage growth as well as expansion in high tech industries.

Milken researchers said the Tampa Bay area rose in the rankings on the strength of such financial services giants as Citigroup, J.P. Morgan and Raymond James.

The report stated: "Job growth is accelerating as broad-based expansion appears to be under way. Increasing international trade is expanding is port operations, leading to greater transportation and warehousing operations. Global competition and foreign outsourcing to lower cost regions challenge the Tampa metro's relatively low cost advantages threatening future economic growth in the area."

While the researchers praise Florida for taking 35 percent of the top 20 metro spots, they also warn that reconstruction efforts from multiple hurricanes and rising fuel prices will hinder tourism activities in Florida.

The net effect may be declines in next year's rankings.

[Last modified November 17, 2004, 13:04:09]