Seattle shines again in a new study ranking U.S. cities on the basis of local economic growth, earning a third-place showing among large cities.
The only large cities ranking ahead of Seattle were Austin, Texas, at No. 1, followed by Miami. The study was conducted by personal-finance platform WalletHub. Large cities are defined as communities with more than 300,000 residents.
“To determine where the most rapid local economic growth occurred over a period of seven years, WalletHub compared 515 U.S. cities across 17 key metrics,” WalletHub notes. “The dataset ranges from population growth to college-educated population growth to unemployment-rate decrease.”
Also factored into the metrics were measures such as the number of business startups, regional gross domestic product (GDP) growth, growth in the number of tech companies, building-permit activity and job growth.
Ranking just below No. 3 Seattle in the large-city category was Henderson, Nevada, followed by Denver at No. 5. San Francisco came in a distant 13th; San Jose, California, ranked 17th; Boston, 18th; and Portland, Oregon, edged out San Antonio, Texas, to claim a 23rd-place showing.