Phoenix Business Journal
Date: Monday, July 11, 2011

Phoenix is still a good bet to become a boom economy, despite its troubles in the recent recession, according to a Forbes magazine survey that labeled the next big boom towns in the U.S.

Phoenix ranked ninth on the list, mainly because it still has more jobs than it did in 2000 and its population has become much larger and more diverse than its reputation as a retiree haven.

Our other two top ten, No. 9 Phoenix, Ariz., and No. 10 Orlando, Fla., have not done well in the recession, but both still have more jobs now than in 2000. Their demographics remain surprisingly robust. Despite some anti-immigrant agitation by local politicians, immigrants still seem to be flocking to both of these states. Known better s as retirement havens, their ranks of children and families have surged over the past decade. Warm weather, pro-business environments and, most critically, a large supply of affordable housing should allow these regions to grow, if not in the overheated fashion of the past, at rates both steadier and more sustainable.

The study, conducted by Praxis Strategy Group, looked at the 52 largest U.S. metro areas and based one-third of the score on job growth, particularly in the past two years. The other two-thirds of the score was based on a variety of demographic information.

Austin was No. 1 in the survey. Phoenix has found itself in competition with Texas’ capital city over the past few years for high-tech companies, particularly solar manufacturers.

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