B.R. 59th on ‘best cities for business’ list; N.O. most improved

The Baton Rouge metro area is ranked 59th on The Wall Street Journal Marketwatch Best Cities for Business list analyzing 102 metro areas in the country. However, the Capital Region is bypassed on the list by New Orleans, which made the largest gain of any metro area on the list, rising 44 spots, from 77th in 2010 to 33rd this year. As recently as 2009, New Orleans was in the bottom 10 of the list. In compiling the rankings, the publication compares 15 criteria falling into one of two general categories: economic stability and company concentration. The publication cites multiple reasons for New Orleans’ rapid climb on the list. Notably, the New Orleans region ranked first in long-term personal income growth and in the top quarter of cities for short-term personal income growth. Some other positive factors include recent changes to the methodology, which now includes tourism activities. “Being named No. 1 most improved metro in the country by The Wall Street Journal is a great validation of our efforts as a community,” says Michael Hecht, president and CEO of Greater New Orleans Inc. “We are particularly pleased that this top ranking was based on independent statistical analysis, which then supports the story we are witnessing every day on the street.” You can see the full list and read a larger story on New Orleans’ recovery since Hurricane Katrina at the Wall Street Journal Marketplace website here.