Forbes Lists Naples, FL at Top of Best Cities for Future Job Growth
Economic Growth has now returned to the Sunshine State… Naples, FL was recently ranked as the #1 city in the United States for job growth over the next three years. Austin, Texas finished second and two other Florida cities also ranked in the Top 10 (Cape Coral and Port St. Lucie). Expected Naples job growth is projected to be about 4.1% annually over the next three years- primarily in the healthcare, retail, leisure, and hospitality sectors.
According to a recent article published on www.Forbes.com, Florida added retail jobs at the fastest rate of any state in 2013 and Naples was the top ranked market in Florida. The study was conducted by Moody’s Analytics where they looked at the 200 largest metro areas in the country and their projected growth rates through the year 2016.
When the financial/real estate crisis hit the country back in 2007-2008, home prices in Florida nosedived, foreclosures and short-sales climbed, and unemployment skyrocketed to 11.4% across the state of Florida. Naples unemployment peaked at 12.2% in January 2010, it has since dropped to 5.4% in June of 2014. A majority of the growth is attributed to stock market gains which is fueling spending on construction, tourism, and consumer goods in the area.
Other cities that made the Top 10 list included the Texas cities of Dallas, Houston, San Antonio, and McAllen- along with Greeley, CO and Raleigh, NC. All are expected to have annual job growth of at least 3.5%.1
1“Naples, Austin Head List of Best Cities for Job Growth”, www.Forbes.com, by Kurt Badenhausen, July 23, 2014
