Fueled by job growth in its key industries as well as its emerging tech sector, Baton Rouge made the biggest jump of any American city ranked among the top 25 of the Milken Institute’s 2014 list of the “Best Performing Large City.”
Baton Rouge jumped 55 spots from its ranking last year to No. 21 on 2014 list. Baton Rouge is now among the top 25 cities on the list, after having been ranked No. 76 in 2013, No. 78 in 2012 and No. 89 in 2011. The Milken Institute’s annual list ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. In most years, these give a good indication of the underlying structural performance of regional economics, the institute says.
“[Baton Rouge] ranked 11th for short-term job growth and improved its performance in measures for job and wage growth. The metro’s small high-tech sector posted a large percentage increase in output, placing it sixth in that category, but employment gains were driven primarily by other sectors, especially construction and health care,” the Milken Institute says in its report. “Large-scale construction projects have supported significant increases in employment in recent years. Specialty trade contractors added 2,443 jobs in 2013, and in the five years between 2008 and 2013, the metro added more jobs in this industry than any other metro in the nation [4,231 jobs].”
The San Francisco metro area is ranked as the nation’s best performing on this year’s list, followed by Austin; Provo, Utah; San Jose, California; and Raleigh, North Carolina. Lafayette is ranked No. 19 (up from No. 24 last year) and New Orleans is at No. 67 (up from No. 88 a year ago). See the complete Milken Institute ranking and report.
—Steve Sanoski
