The Milken Institute recently released their findings on the Best Performing Large Cities in the United States. Although the state of Florida did not have a particularly strong showing, the Tampa/St. Petersburg metropolitan area ranked second overall in the state of Florida.
Courtesy of the Milken Institute
To view the full report, click here.
The Milken Institute is a nonprofit, nonpartisan economic think tank whose mission is to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health. What professionals in the real estate and construction industries should pay particular attention to in the M.I.’s mission statement is its particular focus on helping to create jobs and gain access to capital – the two most critical pieces of advancing the housing industry.
Overall, the state of Florida did not compare well to other states throughout the country like Texas, Colorado and California. These states are leading the charge in the energy and technology sectors. These sectors are especially important for both job creation and access to capital. As previously mentioned, job growth and access to capital are the two most important pieces to improve the housing market.
Not to be outdone, Tampa did rank in the Top 40 in the country for number of high tech industries last year, as well as the Top 75 in the country for concentration of high technology jobs. Again, the concentration of jobs in the technology industries is especially important because they provide an increase in job creation as well as further access to capital. With both of these two criterias filled, the housing market in the Tampa area will continue to show signs of improvement.
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