The rankings are based on data for 23 indicators from the Bureau of Labor Statistics, the Bureau of Economic Analysis, and the U.S. Census American Community Survey. The magazine also calculated rankings for three specific categories: economic strength, prime workforce and recession-busting cities.
Lafayette topped the mid-sized city list and the overall list for economic strength, which looked at workforce and labor factors including per capita real GDP, goods-producing employment, and employment growth. Lafayette ranked third for recession-busting mid-sized cities (13th overall) and ranked in the top 25 for prime workforce in mid-sized cities.
“Lafayette has seen significant economic growth in recent years and this recognition from Area Development reflects that,” LEDA President and CEO Gregg Gothreaux said in a press release announcing the rankings. “Local economic indicators have rebounded and, in many cases, exceeded pre-recession levels. With growing retail sales numbers, shrinking unemployment and a growing workforce, all signs point to the fact that over the next decade Lafayette will continue to be one of the premier cities in the South and other communities will strive to emulate our successes.”
The magazine, which covers corporate site selection and relocation, noted many of Lafayette’s recent accolades including Forbes’ best cities for jobs ranking, Sentier Research’s fastest income growth ranking, and the local unemployment rate, which was the lowest in state at 4.9 percent in May. Here's what the editors wrote:
No. 1 among the Top 20 Southern Cities and 3rd overall among Area Development's 100 Leading Locations was Lafayette, Louisiana. It topped the "Economic Strength" indicators among the Top-25 Mid-Size Cities, and was 3rd among this same group for its "Recession-Busting" factors.
It's home to the University of Louisiana- Lafayette, plus numerous significant players in oil and gas. Lafayette Parish has seen $1.3 billion in business investments since 2005, and 2011 was its best year ever, with more than $330 million invested and 2,700 jobs created. Among the many headlines, Halliburton last year picked Lafayette for a 150 job, $65 million plant to produce components for oilfield service operations.
The remaining top 10 mid-sized cities are: Fargo, N.D.; Columbia, Mo.; Trenton, N.J.; Longview, Tyler and Laredo, Texas; Holland and Ann Arbor, Mich.; and Waterloo, Iowa.
The remaining top 10 overall cities are: Columbus, Ind.; Odessa and Midland, Tesas; Bismark and Fargo, N.D.; San Jose, Calif.; Casper, Wyo.; Morgantown, W.V.; and Columbia, Mo.
Click here for the full report.
Lafayette Regional seeking new leadership after longtime director Greg Roberts’ June resignation.
The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
The state labor department figures released Friday show the initial claims decreased to 2,068 from the previous week's total of 2,071. For the comparable week a year earlier, there were 2,494 claims.
The struggle for control of the regional flood authority board and its lawsuit against oil and gas companies for wetlands damage has taken an unexpected turn.
U.S. District Judge Carl Barbier agreed several weeks ago to change the compensation formula for any future payments, but he ruled Wednesday that a deal is a deal when it comes to money BP has already paid out.
IberiaBank has already retrofitted many of the Teche Federal Bank locations it acquired in a buyout earlier this year, but some residuals from the estimated $161 million deal are still playing out, namely a federal lawsuit alleging the theft of sensitive information by two former Teche executives.
Both join Russo as brand developers.
Targets of an investigation of alleged corruption within the settlement program for compensating victims of the 2010 Gulf of Mexico oil spill will be in federal court Tuesday.
Excitement over Bell Helicopter’s 505 Jet Ranger X is growing, as is the international demand for the state-of-the-art chopper, which will soon be manufactured at the company’s first-ever Louisiana assembly facility in Lafayette.
The Louisiana Hospital Association, Louisiana Nursing Home Association, Louisiana Pharmacists Association, ambulance providers and intermediate care facilities are pooling their resources and planning for a statewide media buy to promote the passage of the first two constitutional amendments on the November ballot.
New report also reveals negative results of Medicaid cuts.
The Pentagon says two Louisiana companies have Navy contracts worth a total of $26.8 million.
Newcomer to Top 50 among five companies selected for Naval contract
Both sets of figures — adjusted to cancel out seasonal changes — were released by the U.S. Labor Department.
Texas declined by five rigs, West Virginia dropped three and Louisiana was down two.
A federal appeals court in New Orleans has upheld a federal safety board's right to investigate the role of Transocean Deepwater Drilling Corp. in the 2010 Gulf of Mexico oil disaster.
A supporter of a lawsuit against the oil industry has been re-nominated to a seat on a south Louisiana flood control board despite opposition from Gov. Bobby Jindal.
The nominating committee for the Southeast Louisiana Flood Protection Authority-East was set Thursday to nominate applicants for two people on the board whose terms have expired.
Restaurant could see ‘a little facelift,’ Bobby Butcher tells Daily Report.
Attorney General Buddy Caldwell says he won't approve a Cameron Parish Police Jury resolution to hire outside attorneys for such a lawsuit until the resolution is amended. Caldwell's Sept. 15 letter says the resolution must make clear that those attorneys will represent the parish alone — not the state.
Michelle D. Lavergne, who worked for the Lafayette law office of L. Clayton Burgess for 13 years, faces up to 10 years in prison.
Sonnier, former media buyer and account exec at Sides, joins Acadian companies as marketing specialist; Maggard, who most recently worked for Potenza, joins Russo as director of media and PR.
New recreation/fitness trend taking over old Crazy Charlie’s on Ambassador Caffery Parkway.
Authorities said that a Chevron Corp. subsidiary was still releasing natural gas Sunday from a pipeline off the Louisiana coast where a Saturday incident killed a maintenance worker.
Meet the WWMB Class of 2014, extraordinary women guiding our exceptional community