Five Utah metropolitan areas are among the top 25 listed by Heartland Forward in the newly released 2021 edition of its annual Most Dynamic Metropolitans (MDM) report. The Bentonville, Arkansas-based economic think tank’s report ranks and analyzes which locales are making themselves more resilient and moving toward better economic futures for their citizens.
“Those highly ranked have propelling factors for a dynamic metro to sustain itself including assets such as tech hubs, outdoor and lifestyle recreation and the presence of higher education institutions,” Heartland Forward said. In addition, those at the top of the ranking lack a dependence on energy or international tourism and business travel which were affected by COVID.
Utah metros making the list include St. George at No. 4, Provo-Orem (No. 5), Logan (No. 6), Salt Lake City (No. 13) and Ogden-Clearfield (No. 16).
The top-ranked areas were San Jose-Sunnyvale-Santa Clara, California; The Villages, Florida; and San Francisco-Oakland-Berkeley, California.
“Once again, we’re honored to have five metro areas in the Top 25 Most Dynamic Metros, the most of any state in the nation. From job growth to GDP growth to record-low unemployment, Utah continues to be a national economic leader and we appreciate this recognition,” said Utah Gov. Spencer Cox.
To determine the rankings and analysis, the index captures recent employment growth, wage growth, GDP growth and the average income of the metro area. It also captures two entrepreneurship metrics: 1. The density of young business activity within the overall economy and, 2. Density of well-educated workers within the workforce employed by those young businesses.
“In a time of unprecedented crises and economic turbulence, American metropolitans have shown their resilience and creativity,” said Ross Devol, president and CEO of Heartland Forward. “ We are proud to present the annual Most Dynamic Metropolitans index for the third year in a row, which tracks fluctuations in local economies over a most-challenging time and reveals some glimmers of hope, particularly for those heartland metros that are anchored to universities, experiencing a re-emergence in manufacturing, entrepreneurship, transportation hubs and growing their outdoor recreational amenities. We look forward to tracking this progress year-over-year to help policymakers understand the forces that will improve their economic outputs.”
Metros in neighboring states that made the list include Boulder, Colorado (No. 9); Boise, Idaho (No. 12); Reno, Nevada (No. 14); Idaho Falls, Idaho (No. 15); Coeur d’Alene, Idaho (No. 17); and Fort Collins, Colorado (No. 17).
Concerning Utah’s performance on the listing, Heartland Forward said, “Perhaps the most salient pattern present in the annual evaluation is the extent that several Rocky Mountain states exerted their dominance. Utah achieved a remarkable accomplishment— all five metro areas in the Top 25. Several are emerging tech hubs with attractive outdoor recreational amenities that are appealing to knowledge-worker talent, including entrepreneurs.”