Monday, April 29, 2019 / by Callie O'Brien
In a study labeled the Top 10 Best Performing Cities 2018: Where America’s Jobs Are Created and Sustained, done by the Milken Institute, the greater Reno/Sparks area ranked #11, a huge jump from 2017 in which Reno/Sparks ranked 37th overall—showing just how much the area is changing. As the Milken Institute puts it, “The BPC (Best Performing Cities) index measures each metro area’s economic performance using outcomes-based metrics such as job creation, wage gains, and technological developments to evaluate their relative growth.” (Milken Institute)
Here is how the area ranked in other categories done by the report:
- Job growth (2012-2017): 9th
- Job growth (2016-2017): 1st
- Wage growth (2011-2016): 52nd
- Wage growth (2015-2016): 10th
- Short-term job growth (2017-2018): 9th
- High-tech GDP growth (2012-2017): 31st
- High-tech GDP growth (2016-2017): 19th
- High-tech GDP concentration (2017): 136th
- No. of high-tech industries (2017): 112th
- As shown above, the Reno/Sparks area ranked #1 in job growth. This is due, in large part, to all of the corporations moving to the area, with 48,000 new jobs being created in the past 5 years and 2018 alone bringing in more than 29 companies—including 15 company headquarters being relocated—to the area.
While some people may be concerned with the rapid growth of the area, anticipating another economic downfall, the Reno/Sparks area is actually stronger than ever, with less and less dependence being placed upon the Casinos and the gaming industry. Here is the breakdown of the top five industries that contributed the most net growth in jobs over the last five years, showing how Nevada has diversified;
- Trade, transportation and utilities: 11,400. This includes wholesale and retail trade, cargo and warehousing.
- Professional and business services: 9,000. Includes company headquarters, engineering services, law firms, management companies and call centers.
- Manufacturing: 8,400. Includes advanced manufacturing.
- Construction: 7,900.
- Education: 3,700.
-(Bureau of Labor)
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