| Nashville-Davidson-Murfreesboro MSA ranks No. 5 for economic strength |
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Posted: Wednesday, May 27, 2009 3:22 pm
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The Nashville-Davidson-Murfreesboro metropolitan statistical area ranked No. 5 out of 366 metropolitan areas in the country for economic strength, according to POLICOM Corp.
This is the long-term tendency for an area to consistently grow in size and quality.
POLICOM addresses the condition of an economy from the viewpoint of it's impact upon the “standard of living” of the people who live and work in an area.
The economic strength rankings are created so POLICOM can study the characteristics of strong and weak economies. The highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time. The lowest ranked areas have been in volatile decline for an extended period of time.
POLICOM has created economic strength rankings for all Metropolitan Statistical Areas and all Micropolitan Statistical Areas.
Metropolitan Statistical Areas have at least one urbanized area with a population of at least 50,000, plus adjacent territory (counties) which have a high degree of social and economic integration with the core as measured by commuting ties. They must have at minimum one county but most often include several counties.
There are now 366 metropolitan statistical areas.
POLICOM Corporation is an independent economic research firm which specializes in analyzing local and state economies. From its research, it determines if an economy is growing or declining, what is causing this to happen, and offers ideas and solutions to improve the situation.
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