The Milken Institute, a nonpartisan nonprofit, has come out with a list of the best performing cities in the United States. The list was created using thirteen economic metrics, based on data from January 2022 to August 2023. Opus Virtual Offices, a nationwide leader in virtual office services, is proud to have prestigious locations in many of these top ranked cities, including Nashville, Dallas, Houston, Orlando, and number one ranked Austin.

The top-performing cities had a high performing technology sector, as well as a growing hospitality and tourism industry. The list also emphasized job and wage growth, housing affordability, and income inequality.

The top performing city, Austin, achieved rapid growth in wages and job creation. Austin’s tech sector has exploded in recent years, bringing with it high paying jobs and startups ready to make their mark in the business world. From 2017-2022, wage increases in Austin were up 73.1%, higher than any other major metro area in the United States. Texas’ capital city is also home to the University of Texas, giving the city access to a vast group of young talent. Austin’s rapid growth will continue to attract new businesses and prospective employees to the central Texas area for years to come.

Texas Rapid Growth

Houston, just a few hours southeast of Austin, ranks as one of the most improved metro areas in the United States. This is largely due to rapid growth in its tourism and hospitality industry. The Houston metro area experienced 8-15% job growth in those specific industries post-pandemic, contributing to its new high ranking. Another major Texas city, Dallas, experienced 14.5% job growth from 2017-2022, making Texas one of the best states in the nation when it comes to overall job growth. With constant infrastructure improvements and beneficial changes to its business laws, Texas will continue to be a top state to do business in.

Nashville

The music city of Nashville demonstrated exceptional economic resilience from 2021-2022 with competitive wage growth, employment opportunities, and a powerful high-tech sector. Nashville is more affordable than many major metro areas, which helps contribute to the city’s attractiveness and growth. Like Texas, Nashville is experiencing exponential growth in the high-tech sector. This leads to the city’s high ranking on the best performing list.

Orlando

Orlando is known as the theme park capital of the world, but for the past few years, it has become a hub for businesses in the medical, financial, and tech industries. Job growth in the Orlando metro area increased 8.8% from 2021-2022, a positive sign of things to come. Florida’s business friendly environment continues to attract successful and new companies to the sunshine state, especially in the Central Florida area.

For your Business Needs, Choose Opus Virtual Offices

Opus Virtual Offices, a national leader in virtual office services, is proud to have prestigious locations in Austin, Houston, Dallas, Nashville, Orlando, and many more cities across the country. Features of an Opus virtual office include a live, US-based receptionist, business phone and fax number, and a corporate mailing address that your business can proudly call home.