S.P./Pinehurst High In Economic Rank
The Southern Pines-Pinehurst area has again garnered high marks for its economic strength.
It is ranked 24th out of the 574 "micropolitan" statistical areas in the United States, according to the 2009 Economic Strength Rankings just released by Policom Inc. A micropolitan area is defined as having a population between 10,000 and 50,000.
This ranking puts the Southern PinesPinehurst area high on the national list of communities with a stable but consistently growing economy, which enables residents to enjoy a higher quality of living.
"Policom's ranking simply affirms what residents already know and what we've been emphasizing to prospective clients all along," said Ray Ogden, executive director of Moore County Partners in Progress, the economic development organization serving all of Moore County. "Thanks to the local economy's track record of steady growth, we have an exceptional standard of living in Moore County, and it's a great place to start, relocate or expand a business."
For the past six years, the Southern PinesPinehurst area has consistently maintained a position in the top 30 in the Economic Strength Rankings. It achieved its highest ranking, 4, in 2004.
For 2009, it is one of only two micropolitan statistical areas in North Carolina that are in the top 25. The Statesville-Mooresville area just edged out Southern Pines-Pinehurst, coming in at 23.
Neighboring Sanford, ranked 40th, was the next North Carolina micropolitan area listed. Southern Pines-Pinehurst far outranked other nearby areas, including Rockingham, Laurinburg, Dunn, Albemarle and Lumberton.
"I think the current ranking reveals one of the reasons Moore County has fared relatively well during these economic conditions compared to some of our neighboring counties," Ogden said. "Our local economy was in good shape going into the recession, and I think it will help us to recover more quickly."
Hilton Head-Beaufort, S.C., topped this year's rankings, followed by Edwards, Colo.; Kahului-Wailuku, Hawaii; Durango, Colo; and Concord, N.H.
To measure the economic strength of all 574 micropolitan statistical areas nationwide, Policom used data from 1988 to 2007 and looked at various economic criteria, such as how much employees earn in small businesses and in the construction and retail sectors since these industries tend to grow or decline in direct proportion to the condition of the economy.
Policom is a Palm City, Fla.-based independent economic research firm that analyzes local and state economies to determine if a particular economy is growing or declining and why. Each area is evaluated based on the long-term tendency of its economy to grow consistently in both size and quality.
The higher the ranking, the more constant the growth has been over an extended period of time.
To view the entire 2009 Economic Strength Rankings, visit www.policom.com. For more information on Partners in Progress, visit www.moore business.org.
Contact John Krahnert III at 693-2473 or by e-mail at email@example.com
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