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for immediate release SANFORD RANKED 81ST IN ECONOMIC STRENGTH SANFORD, N.C. —Sanford ranks 81st in economic strength among 576 small cities in the United States, according to an annual list published by POLICOM, an independent economic research firm based in Palm City, Fla. This year's position places Sanford among the top 14 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 lower than in recent years, when Sanford generally fluctuated in the 40s. Its highest ranking was 34th in 2008. 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. "Given how important manufacturing is in our area and how hard that segment has been hit by the economy, it's actually good news that we're still among the nation's strongest small cities," says Bob Heuts, who directs the economic development effort. "Obviously, we'd like to be higher on the list, and as the economy recovers, I have no doubt we'll be moving back up again." In his summary report, author William Fruth says the rankings have been devised to help his company understand characteristics of strong and weak economies. "The highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time," Fruth writes. "The lowest ranked areas have been in volatile decline for an extended period of time." Only five North Carolina cities appeared in this year's top 100. With the state's overall economy showing signs of recovery, Heuts expects business to pick up locally. "The best news is that our 'fundamentals' remain strong — things like a strong workforce and infrastructure" he says. "Most of all, we're in a growing part of the country and part of the Research Triangle Region, a place where companies around the world want to do business." This year's top five micropolitans, in order, were: Edwards, Colo., which finished second last year; Gillette, Wyo.; Durango, Colo.; Hilton Head Island-Beaufort, S.C., which topped the list the two previous years; and Rock Springs, Wyo. 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 |
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