New study finds cities with fastest economic growth

Image courtesy of The Frisco Convention & Visitors Bureau 

A recent in-depth study by personal finance website WalletHub has determined the U.S. cities with the fastest growth for business.

Using 15 key metrics of both growth and decline over a period of seven years, WalletHub analyzed over 500 cities of varying population sizes to find the fastest economic growth. Some of the metrics taken into account included population growth, unemployment rate decrease, and growth in regional GDP per capita.

These cities were then ranked on a 100-point scale based on those metrics. The city of Frisco, Texas came out on top, with a score 76.01. It was followed by Kent, Washington (68.32) and Lehigh Acres, Florida (67).

These cities may be considered as good places to start a business, although other factors must be taken into account.

Here is the top ten of fastest growing cities for business:

  1. Frisco, TX (scored 76.01)
  2. Kent, WA ( score 68.32)
  3. Lehigh Acres, FL (scored 67)
  4. Meridian, ID (scored 62.71)
  5. Midland, TX (scored 62.64)
  6. McKinney, TX (scored 62.42)
  7. Fort Myers, FL (scored 62.33)
  8. Bend, OR (scored 60.96)
  9. Austin, TX (scored 59.88)
  10. Pleasanton, CA (scored 59.69)

 

You can read more on WalletHub's findings and view a full graphic representation of the fastest and slowest-growing U.S. cities at its website.