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for immediate release Sanford again among the nation's top 40 SANFORD — Sanford once again ranks among the top 40 small cities across the United States in economic strength, according to an annual list published by POLICOM, an independent economic research firm based in Palm City, Fla. This year's position — 40th out of 574 — places Sanford's economic muscle in the top 7 percent of the nation's 'micropolitan' areas, defined by the federal Office of Management and Budget as having a city of at least 10,000 but fewer than 50,000 residents. Its position was six rungs lower on the ladder than last year, when the Lee County seat unexpectedly jumped from to 34th from 45th in 2007. But it continues to reflect the area's stable economic vitality, with rankings the three previous years of 48th in 2006, 52nd in 2005 and 48th in 2004. Formulas used by POLICOM to assess economic strength measure how the economy has actually performed in the previous year. They take into account the growth and size of the regional economy, changes in business sectors that typically show how much money is flowing into a community, and local trends in welfare and Medicare. In his summary report, author William H. Fruth noted that, "the highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time." Those falling toward the bottom of the list, not surprisingly, have been declining for years. Bob Heuts, who directs the economic development effort for Sanford and Lee County, welcomed the news that Sanford's local economy remains strong relative to its peers. "When you're working, day by day, to improve the business climate in a tough economy, it's easy to lose perspective — to see everything that's wrong and miss the good things happening," he said. "One ranking is never the final word, but what they show is that this community is doing a lot of things right. "Even now, company executives are still looking for places to do business. And once the economy does rebound, as it always does, we'll be in a prime position to take advantage of the expansion that's sure to follow." Heuts pointed out that Raleigh and the Research Triangle Region, as a whole, continue to attract international accolades. Being part of that region, with wide-open transportation networks and a local tradition of industry, he said, is precisely what draws so much interest. With one exception, this year's top five micropolitans were the same as last year's. In order: Hilton Head Island-Beaufort, S.C., which also topped the list last year; Edwards, Colo.; Kahului-Wailuku, Hawaii; Durango, Colo., which made its first appearance among the top five, replacing Lebanon, N.H.-Vt.; and Concord, N.H. The full report is available on line at policom.com/microrank.htm. The Lee County Economic Development Corp. is a nonprofit organization established to attract industry, enhance job opportunities and promote sound planning across Lee County. Funding is provided by the county, as well as the City of Sanford and Town of Broadway, the county's two municipalities. —30— contact more on the web |
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