The Milken Institute recently revealed its 2015 “Best Performing Cities” list, an annual report that classifies major urban areas according to striving industries, general employment growth and high rates of hiring.
The list places a strong emphasis on IT jobs, as these positions tend to be more dynamic and well-paying. The Milken Institute created rankings for both small and large cities. The former category was dominated by West Coast contenders, while the latter was dense with Midwestern locales.
Topping the large cities list was the San Jose-Sunnyvale-Santa Clara, California, region – also known as Silicon Valley. The area, which earned the No. 4 spot on 2014’s list, boasted a job growth percent of 103.29, as well as a high tech GDP LQ of 4.41. Yahoo! Finance explained that the tri-city area’s position as an established hub of technology and innovation made it an obvious, yet deserving, recipient of first place.
The Austin-Round Rock, Texas, district also earned a place in the top 10, a significant improvement over the region’s 2014 ranking, which was 19th place. Austin was named the No. 4 city for retention and job growth, largely due to increased economic diversification, explained the Austin Business Journal. The city is known for its lively music and art industries, but many of its recent gains have been related to hospitality and technology.