Report: Central Texas top job generator

Oct 14, 2010

Austin Business Journal

Two Central Texas metros topped for the second consecutive year a business performance ranking from the Milken Institute.

The Best-Performing Index ranks cities' ability to create and sustain jobs. Researchers analyzed long-term and short-term employment and salary growth, as well as four measurements of technology output growth, among other indicators.

It lauded Central Texas for its business-friendly climate, vibrant technology sector and relative limited exposure to the housing bubble. Texas claimed a total 11 of the top 25 spots on the list of 200 largest U.S. metros. Five were in the top 10.

Researchers found that cities with service industry heavy economies, such as health care, and large government employers, like military bases, have been shielded from the job losses suffered by metros more housing and financial industries heavy.

In Austin, which fell to second on the list from first last year, Seton Family of Hospitals is the largest employer with about 8,700 workers. IBM Corp., Freescale Semiconductor and St. David's HealthCare employ the second, third and fourth largest number of people. Unemployment fell to 7.2 percent last month, far below the above 9 percent average.

The 2010 top performers (rank last year in parenthesis):

1. Killeen-Temple-Fort Hood (2)
2. Austin-Round Rock (1)
3. Huntsville, Ala. (8)
4. McAllen-Edinburg-Mission (4)
5. Kennewick-Richland-Pasco, Wash. (Not ranked in 2009)
6. Washington-Arlington-Alexandria, D.C.-Va.-Md. (25)
7. Raleigh-Cary, N.C. (10)
8. Anchorage, Alaska (40)
9. El Paso (14)
10. Houston-Sugar Land-Baytown (5)

Fargo, ND-MN, topped the list of the 179 smallest U.S. metros.