Melbourne Area Earns #2 Spot on the Milken Institute’s Best Performing Cities 2021
The Palm Bay-Melbourne-Titusville Metropolitan Statistical Area (MSA) has earned the number 2 spot on the Milken Institute’s Best Performing Cities 2021: Foundations for Growth and Recovery rankings.
The Milken Institute’s Best-Performing Cities index tracks the economic performance of approximately 400 US metropolitan statistical areas (MSA). It uses an outcomes-based set of metrics—including job creation, wage gains, and high-tech GDP growth—to evaluate the performance of these cities relative to one another.
According to the report, the Palm Bay-Melbourne-Titusville MSA “continues its ascent up the Best-Performing Cities rankings, propelled to second by strong one-year wage (third) and job growth (eighth). The Space Coast improved on last year’s breakout performance, transforming one-year gains into longterm jobs (13th) and wage growth (16th). This continued success is largely due to a diversified, high-tech industrial base, including a significant part of the national aerospace and defense industries.”
The 2021 version of the index emphasizes jobs, wages, and high-tech growth while incorporating new measures of housing affordability and household broadband access.
Read more: Best-Performing Cities 2021: Foundations for Growth and Recovery