ECONOMIC NEWS from Lee County Econonomic Develompent Southern Base of the Research Triangle for imediate release Thursday, June 12, 2008 SANFORD LEAPS TO 34TH IN ECONOMIC STRENGTH AMONG 'MICROPOLITANS' IN THE UNITED STATES SANFORD -- For the third year in a row, Sanford's economic strength ranks among the top 50 small cities across the United States -- and its current 34th position continues a steady rise since 2005. POLICOM, an independent economic research firm based in Palm City, Fla., publishes the annual ranking of 577 '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. Formulas used to assess economic strength measure how the economy has behaved 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. Sanford has been marching up the list since landing in 52nd position three years ago. The seat of Lee County government rose to 48th in 2006 and then 45th last year. Bob Heuts, who directs the economic development effort for Sanford and Lee County, said he was pleased with the rankings. Business and industry has thrived in Sanford, he believes, primarily because of an outstanding local workforce and the city's position in the world-renowned Research Triangle Region. "Having wide-open transportation networks and being close to everything Raleigh, Durham and Chapel Hill have to offer helps create a vital business climate and keep our economy strong," Heuts said. "Plus, there's a rich tradition of industry here, which means companies can find everything they need to do business." At the same time, Heuts was hesitant to predict even higher rankings in the future. It's not that Sanford won't continue to improve, but that many communities higher on the list have assets that simply aren't available locally. He mentioned Hilton Head Island-Beaufort, S.C., a wealthy Atlantic Ocean beach resort which topped this year's rankings, and 23rd-ranked Statesville-Mooresville, a community north of Charlotte that sits at the intersection of two major Interstate highways. Though their positions shuffled, this year's top five micropolitans were the same as last year's. In order: Hilton Head Island-Beaufort, S.C.; Edwards, Colo.; Concord, N.H.; Lebanon, N.H.-Vt.; and Kahului-Wailuku, Hawaii. 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 -- Media Contacts Bob Heuts, Director Jane Haber, Administrative Assistant +1.919.774.8439 (phone) +1.919.775.5410 (fax) info@lcedc.com (e-mail) More on the Web Micropolitan rankings by POLICOM http://policom.com/microrank.htm Lee County Economic Development Media Relations http://www.lcedc.com/media/