Two Tech Corridor Communities on Forbes “Best of” List; IC #3

Economic and income growth helps put IC and CR near the top

Both Cedar Rapids and Iowa City are recognized as “Best Places for Businesses and Careers” in Forbes magazine’s newest “best of” list.  Cedar Rapids ranks number thirteen out of the two hundred largest metropolitan statistical areas (MSAs) and Iowa City ranks second among smaller metros (below 245,000 in total population).

Forbes begins with twelve metrics such as community costs in business and living, past and projected job growth, income growth and educational attainment to begin its rankings .  Then, quality of life factors such as crime, recreation, and net migration patterns are factored in.  Lastly, Forbes examines the number of subprime mortgages and the rankings of area four-year colleges to determine the final order.

Cedar Rapids lead all 200 metros in the categories of job growth and economic growth.   “The diverse economy and strong industry clusters within the Cedar Rapids area make our community an attractive place for both existing businesses to expand and new companies to locate,” said Mark Seckman, president of Priority One.

Seckman also noted that quality of life amenities help attract quality workforce.  Those factors, such as income growth, educational attainment and a low number of subprime mortgages contributed to Iowa City’s high ranking.

“All of the Forbes factors are important when a company is considering locating in a region,” said ICAD Group President Joe Raso  “In Iowa City, our stable economic market serves as a foundation, and our high education attainment, low crime, and dynamic  arts culture make our area all the more attractive for businesses and their workforce.”

The city of Des Moines received the overall best ranking.

About the Cedar Rapids/Iowa City Technology Corridor
The Cedar Rapids/Iowa City Technology Corridor is a regional economic development partnership between the Iowa City Area Development Group and Priority One of Cedar Rapids involving business, community, government, utility and education leaders focused on a joint plan to develop, promote and enhance business opportunities for emerging and existing industries.