Palm Coast ranked third among small metropolitan areas, joined by two other Florida locations on top ten list in study published by Forbes.
February 12, 2008 – Palm Coast, FL – A recent Forbes article listed the top ten large and small U.S. metropolitan areas ranked by projected growth in Gross Metropolitan Product (GMP). The lists were the result of a research forecast by Moody’s Economy.com. Florida placed three entries on each of the top ten lists. Palm Coast ranked third among small areas (with populations over 50,000 but less than 528,000).
According to Moody’s analysis, Palm Coast‘s GMP will grow by 28.1% between 2007 and 2012, ranking it third on the list. It’s population growth is expected to be 31% over the same period. While the study acknowledged that the housing bust will "put a dent" in growth, Palm Coast‘s ideal coastal location between St. Augustine and Daytona Beach make it a perfect spot for people wanting to move to Florida. Joining Palm Coast on the top ten list of small areas are Port St. Lucie eighth (23.43%) and Naples – Marco Island tenth (22.7%).
Florida also placed three entries on the top ten list of large fastest growing GMP areas with Cape Coral – Fort Myers second (23.34%), Orlando ninth (19.74%) and Palm Bay – Melbourne – Titusville tenth (19.65%).
By state, Florida led with a total of six areas. Texas placed four, Alabama three, and California two. Mississippi, Utah, Arizona, Washington, and Georgia had one each. Note that all states are in either the south or west.
Great news but…
I hope local leaders aren’t relying on their great location, there are plenty of great locations.
Toby, you have commented on this before but now I can see it clear as day from the light of a burning bridge. I had to leave Flagler county for a \”real\” job, one outside of the residential real estate market. Flagler’s economy is still largely predicated off residential construction and maintaining those homes for the aging population that moves there.
As I watch the Sunday morning news programs targeted at businesspersons, I notice places like Michigan and Virginia running commercials to lure potential business that will bring jobs or bring with them skilled people (Look at Bentonville, Arkansas). Port St. Lucie had success with tax incentives to bring in Scripps. Make no mistake about it, the competition was intense for them to get it done.
I’m afraid you are going to have an equal number of vacant store fronts in new projects as you have seen for sale signs in front yards. I’ve seen the vision for Palm Coast Town Center and Palm Coast Park, they are lovely. They do a great job of answering what it will be but seem to rely on the “if we build it they will come” attitude. The real question is who. What are local leaders doing to get the \”other\” jobs into the area? There are sectors of this nation’s economy that would love to bring thousands of professional jobs to a place with affordable housing and unparalleled lifestyle. Make Flagler County a viable place to work and live, not just a place to go before you die.