For Multifamily Executive, Hamilton Zanze CEO Kurt Houtkooper details the reasons for optimism about the multifamily market and his company’s plans for 2024.Read
Provo Has the Best Local Economy in the Country
The On Numbers Economic Index ranked Provo, UT as the strongest local economy in the country. Dallas-Fort Worth came in second, and Austin grabbed the third spot, with Oklahoma City and Houston rounding out the top five.
Below are a few factors that have driven Provo’s thriving economy:
- Strong job growth –The fifth-best private sector jobs growth rate nationally, increasing 4.9% since 2008.
- Low unemployment – With unemployment at 4.6%, Provo is one of only seven major markets with an unemployment rate below 5%.
- Income growth – Weekly earnings for private-sector workers notched the biggest increase in the country at 41.7%.
- Retail expansion – Retail employment grew 6.6% year-over year, the third-biggest increase behind Little Rock and Oklahoma City
Read more at Austin Business Journal