Miami will not be the next boom town in the U.S., according to recently released data from New Geography.
Miami ranked 27th, with Tampa coming in one spot behind-causing Florida to be greatly overshadowed by Texas, which claimed the majority of the higher rankings. However, Orlando did snag 10th place, and Jacksonville 14th.
Austin, Texas came in first place in accordance with data of past, present and future vitality.
Important factors to determining the next boom town included: job growth over the past decade as well as the past two years, demographic factors, and a “broad measurement of attractiveness to immigrants — as places to settle, make money and start businesses.”
It seems that Texas has been somewhat immune to the struggles of various other states, with over 83,000 new jobs and low housing prices throughout the state.
Austin and second place-ranked Raleigh, North Carolina were determined to have ideal demographic situations, with “high rates of immigration and migration of educated workers and healthy increases in population and number of children. They are also economic superstars, with job-creation records among the best in the nation,” said the report.
While Orlando has “not done well in the recession,” it is notable that the city currently has more jobs than it did in 2000, and immigrants also seem to be fairly attracted to Florida.
“Warm weather, pro-business environments and, most critically, a large supply of affordable housing should allow these regions to grow, if not in the overheated fashion of the past, at rates both steadier and more sustainable,” said the article.
Miami was not seen to have the advantages Orlando may, although the area has been highlighted as a hot spot for international buyers.
“What is clear is that well-established patterns of job creation and vital demographics will drive future regional growth, not only in the next year, but over the coming decade. People create economies and they tend to vote with their feet when they choose to locate their families as well as their businesses,” said New Geography.
“This will prove more decisive in shaping future growth than the hip imagery and big city-oriented PR flackery that dominate media coverage of America’s changing regions,” the article said in closing.