The Milken Institute has released its annual list of ‘best performing cities.’ Here’s how they came up with the ranking, per Richard Florida of the Atlantic Cities.
An “outcomes-based” ranking, the report takes into account both short and long-term growth in job numbers, wages and salary, and the concentration and size of high-tech industries — an increasingly important part of success in today’s knowledge-driven economy.
So, to be clear, this is largely job growth and about tech growth and little else–which is why Texas does so well in this ranking. Still, it’s a bitter cup of coffee that Philly finishes 109th, just behind York-Hanover and just ahead of Columbus, GA. The good news? Philly is 50th in concentration of high-tech industries, if not in high-tech growth or GDP. See the full report here, and the Atlantic Cities’s synopsis here.