News & Rankings

Milken Institute Names Raleigh a Best-Performing Large City

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While most all larger metros are experiencing stronger economic fortunes, some metros are showing a significant competitive advantage. The Milken Institute's Best-Performing Cities index looks into these metros and provides an objective benchmark for examining the underlying factors and identifying unique characteristics of economic growth in metropolitan areas. Some of these factors include a high concentration of tech services and strong climates for entrepreneurship, both of which Raleigh has. Raleigh was named the #6 Best-Performing Large City in the U.S. in 2016. 

The goal of the Milken Institute's Best-Performing Cities index is "to help businesses, investors, industry associations, development agencies and government officials, academics, and public-policy groups monitor and evaluate how well their metro is promoting economic vitality relative to the rest of the country."

Components of the Best-Performing Cities Index include: 

  • Job growth (I=2010) 0.143 
  • Job growth (I=2014) 0.143 
  • Wage and salary growth (I=2009)
  • Wage and salary growth (I=2013)
  • Short-term job growth (Aug. 2015-Aug. 2016) 
  • High-tech GDP growth (I=2010) 0.071 
  • High-tech GDP growth (I=2014) 0.071 
  • High-tech GDP location quotient (2015) 
  • Number of high-tech industries with GDP LQ>1 (2015)

I= beginning year of the index

The Raleigh MSA includes: 

  • Wake County
    • Raleigh
    • Cary
    • Wake Forest
    • Garner
    • Rolesville
    • Holly Springs
    • Fuquay-Varina 
    • Apex
    • Knightdale
    • Morrisville
    • Wendell 
    • Zebulon
  • Franklin County
    • Bunn
    • Centerville
    • Franklinton
    • Louisburg
    • Youngsville
  • Johnson County
    • Archer Lodge
    • Benson
    • Clayton
    • Four Oaks
    • Kenly
    • Micro
    • Pine Level
    • Princeton
    • Selma
    • Smithfield 
    • Wilson's Mills


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