KILLEEN, Texas – The local economy of the Killeen-Temple-Fort Hood Metropolitan Statistical Area (MSA) has received another high ranking in a national study. The MSA was ranked 30th out of 366 in the POLICOM Corporation’s 2012 Economic Strength Rankings study. This marked an improvement over last year’s ranking of 60th and continued the trend of stronger rankings each year since 2006.
POLICOM annually ranks 366 MSAs in the United State for “economic strength” to enable the corporation to study the characteristics of strong and weak economies in the country. The MSAs ranked must contain a city of at least 50,000 people and are typically more than one county. There are 25 MSAs in Texas and Killeen ranked fifth in the state behind only the four major metropolitan areas – Dallas, Houston, San Antonio and Austin.
“The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” William H. Fruth, President of POLICOM, said. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation. While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm.”
The Killeen area has not only weathered the storm but has continually improved their rankings in this study year after year. The MSA was ranked 169th in 2006, 143rd in 2007, 125th in 2008, 122nd in 2009, 89th in 2010 and 60th in 2011.
Anytime you get a positive endorsement from an independent third party, especially one with the economic credibility of POLICOM, it makes a difference in the market place,” said John Crutchfield, President/CEO of the Greater Killeen Chamber of Commerce. “This ranking will translate to a positive economic impact for our region.”
The study measures 23 different economic factors over a twenty-year period to create the rankings. Specific formulas determine how an economy has behaved over an extended period of time. Data stretching from 1991 to 2010 was used for this study. POLICOM, located in Palm City, FL, specializes in analyzing local and state economies and has created this study each year since 1997.
The Killeen-Temple-Fort Hood MSA has also fared well in other national rankings. In December 2011 the Milken Institute ranked the MSA fifth among 200 of the largest metros in the nation on their Annual Best-Performing Cities Index. Also in 2011, Killeen was ranked first overall on NewGeography.com’s Best Cities for Jobs, third amongst medium metros on Military.com and USAA’s annual Best Cities for Military Retirement, third on Kiplinger.com’s Most Affordable U.S. MSAs To Live and seventh on the CareerBliss Happiest Cities for Work list.