Tuesday, December 13, 2011
Lexington-Fayette County lands atop
another national economic ranking
A new index called the Fourth Economy Community Index placed Lexington-Fayette County first among the top midsized counties (population of 150,000 to 300,000) when considering measures within several key areas, including investment, talent, sustainability, place, and diversity.
“We are very excited about this new ranking, because it measures communities over time and considers factors that will enable our area to be successful now and in the future, such as the ability to support innovation, human capital, state policies that are beneficial to economic development, and increased productivity,” said Commerce Lexington president and CEO Bob Quick. “Most economic rankings reflect a set of metrics without consideration of past progress or future potential.”
Also included with Lexington-Fayette County on the Fourth Economy Community Index top five are: Wilmington, N.C.; 3. Omaha, Neb.; 4. Green Bay, Wisc.; and 5. Springfield, Mo. According to the release from Fourth Economy Consulting, “These communities are ideally positioned to attract modern investment and managed economic growth.”
In the index, Lexington is cited as a “bike friendly location” with “high quality place-based amenities” and “critical resources to support innovation.” This particular index focused on midsized cities with an educational attainment above 25 percent and average travel times less than 20 minutes.
“We are very fortunate to have one of the most educated workforces in the country,” added Quick. “Because of our diverse economy and an entrepreneurial focus, Lexington has been able to weather the recent economic downturn better than a lot of other cities. Our economic development partnership with the city of Lexington and the University of Kentucky has enabled us to better assist companies looking to relocate or expand here.”
The top Fourth Economy communities reflected several commonalities, including urban and rural characteristics, a variety of housing and employment opportunities, and strong higher education institutions. To find out more about the Fourth Economy Community Index, visit www.fourtheconomyindex.com.
From Commerce Lexington.