Area Development has published its 2014 Leading Locations Report. This annual report ranks 379 Metropolitan Statistical Areas (MSA) across four categories: “Prime Workforce”, “Recession-Busting Cities”, “Economic Strength”, and “Year-Over-Year-Growth”.
The Killeen-Temple-Fort Hood MSA performed significantly well in the “Prime Workforce” category, ranking 12th nationally, 7th among Mid-Size Cities, and 3rd in the State of Texas. This ranking reflects several strengths of the Killeen-Temple-Fort Hood MSA, notably its young and well-educated workforce, high levels of job growth and other positive workforce factors.
Greater Killeen Chamber of Commerce CEO/President John Crutchfield stated, “This report continues a series of positive rankings by the Killeen-Temple-Fort Hood MSA in national studies such as recent releases from POLICOM and the Texas Comptroller that lists the MSA competitively among the nation’s strongest economies. These studies all blend together to tell a compelling and positive story about our community.”
Area Development Inc. researches data-sets originating from the Bureau of Labor Statistics, Bureau of Economic Analysis, U.S. Census American Community Survey and Moody’s Analytics. Their findings show that the top cities poised for economic growth have vibrant job markets, a sustainable workforce, and a diversified economic base. Cities in the Mid-Size category are characterized primarily by providing prime workforce and a multitude of jobs across various industries including technology, military, education, sales, and even robust customer service hubs for national and international brands.
The Killeen-Temple-Fort Hood MSA holds 3rd spot in the state of Texas for Leading Mid-Size City in the Prime Workforce category and 12th in the United States. Area Development defines a Mid-Size City as having a population of 160,000 to 600,000, while, the Killeen-Temple-Fort Hood MSA boasts a population of 405,300.
According to the June 2014 Texas Labor Market Review, the Killeen-Temple-Fort Hood MSA increased employment over the year by 10.3 percent. The Killeen-Temple-Fort Hood MSA also saw non-agriculture job growth from May 2013 to May 2014 of 2.1 percent. From May 2013 to May 2014, Killeen’s unemployment rate decreased by one percent. The city of Killeen’s unemployment rate is currently down to 6 percent.
For more information about Area Development’s study, visit Area Development Online.