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Greater Washington Moves Up “Best Performing Cities” List

Washington , DC; November 19, 2004 – The Greater Washington region now ranks 11th out of 200 in the most recent (2004) Milken Institute analysis of Best Performing Cities, up from its 2003 ranking of 19th .

While metro areas in the Sunbelt dominated the top spots in the 2004 study, the Greater Washington region greatly outperformed its peer group of other very large metro regions in the country.  Atlanta was the next best-ranked very large metro at 72nd, Philadelphia ranked 84th, Los Angeles ranked 140th, Boston 144th, Chicago 166th and New York 169th.

The report talks about where America's jobs are created and sustained, and major factors in Greater Washington's ranking include : comparatively strong job growth and strength in its technology sector.

“The 2004 Best Performing Cities list documents Greater Washington’s rising strength as one of the nation’s top business locations,” said William Couper, Chairman, Greater Washington Initiative, and President of Bank of America, Greater Washington. “The listing underscores the tremendous assets that our region offers to businesses in all sectors, especially technology-related firms.”

The top metro regions on this year’s Milken Institute list benefited from a rebounding U.S. economy, a return to pre-Sept. 11 tourism levels, low housing costs and a growing elderly population that has fueled job growth in health care and other services. The Milken Institute is a publicly supported independent economic think tank.

Additional information on the Milken Institute Best Performing Cities list

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The Greater Washington Initiative ( GWI) is the non-profit, regional economic development marketing organization created to promote the Greater Washington region as a premier business location. For more information, visit www.greaterwashington.org. GWI is an affiliate of the Greater Washington Board of Trade (BOT). For more information, visit www.bot.org

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