January 24, 2024--In Area Development Magazine's "Leading Metro Locations" report for 2023, the Jonesboro MSA has emerged as a standout location, securing impressive positions across multiple categories.
The Jonesboro MSA achieved an outstanding Overall Ranking of 14th out of all 384 Metropolitan Areas in the U.S. and fourth among small metropolitan areas (less than 160,000 population). This ranking is a testament to the Jonesboro MSA's robust economic strength.
"Congratulations to Jonesboro and the surrounding communities in Northeast Arkansas on being named on of the leading metro areas in the U.S.," said Clint O'Neal, Executive Director of the Arkansas Economic Development Commission. "With a thriving economy, a major university, strong community leadership and a proven workforce, it's no surprise that the Jonesboro MSA has received these well-earned accolades."
"This is a notable ranking and excellent recognition for our community and its long-term growth strategy and effectiveness," said Chris Barber, chair of Jonesboro Unlimited.
Area Development magazine partnered with Chumura Economics & Analytics in crunching the numbers and compiling the data. The survey stresses the importance of using a long-term perspective (five years) for determining an area's sustainable upward trend.
Many factors are examined as part of the process, including but not limited to the growing domestic product and how it's trending, unemployment rates, what kinds of jobs are growing, how well the needs of employers are met by the labor marketing, and the activity in sectors such as high-tech manufacturing and other occupations linked to science, technology, engineering, and math (STEM).
Mark Young, president of Jonesboro Unlimited and the Jonesboro Regional Chamber of Commerce, emphasized the importance of a diverse economy to the MSA's success. "Our growth across key sectors is a testament to our collective efforts, and we are optimistic about continued progress."
These rankings reflect the Jonesboro MSA's solid economic foundation and potential for growth and positions the MSA as a significant player in the regional and national economic area.
"Jonesboro's strengths, most notably diversity in our economic portfolio, hold the keys to our guaranteed future success. Throw in our strong family values, great schools, Arkansas State University and its ever-evolving focus on the dynamic educational opportunities required in the coming 50 years, and I am not surprised we rank highly," said Jonesboro Mayor Harold Copenhaver.
Salt Lake City ranked first in the study with other notable communities including Miami-Fort Lauderdale, Fla., and Austin, Texas, as part of the top 10. The Jonesboro MSA is the highest-rated community in Arkansas and the Mid-South.
About Jonesboro Unlimited: Jonesboro Unlimited, created in 1986, is a private partnership organization dedicated to the advancement of economic prosperity in Jonesboro, Arkansas, and the region.
About Area Development Magazine: Founded in 1965, Area Development Magazine is considered the leading executive magazine, covering corporate site selection and relocation.