• Beacon Hill Institute Releases Metro Area Competitiveness Ranking

5/25/2006

For more information, please contact:
Frank Conte, Communications, 617-573-8050; 8750 or
fconte@beaconhill.org

BOSTON – The Boston metropolitan area ranks first in the nation in its ability to attract business and sustain a high standard of living for its residents. According to a new study from the Beacon Hill Institute at Suffolk University, BHI’s Metro Area and State Competitiveness Report, Boston is the premier metropolitan area measured by a broad variety of economic indicators.


The institute defines competitiveness as “the policies and conditions that ensure and sustain a higher level of per capita income and its continued growth.” The report assigns 37 variables to eight categories – government and fiscal policy, security, infrastructure, human resources, technology, business incubation, openness, and environmental policy – and combines these eight measures into a single “competitiveness index.”


“Despite recent news about out-migration and the high cost of housing and worries about corporate acquisitions, Boston shows great strength in this year’s ranking, moving up from a fourth place finish last year,” said David G. Tuerck, BHI’s Executive Director. “If we look at its long-term prospects, the Boston metro region continues to be the nation’s most attractive place to live, work and start high-tech businesses. Although we are limited in natural resources, we continue to cultivate a highly-skilled workforce, in part because of our openness to venture capital investment and talent. This should make us the envy of other regions.”

Following Boston in this year’s ranking are Seattle, Raleigh, Minneapolis, Portland, Denver, Salt Lake City, Austin, Providence and Washington, D.C. With the exception of Providence, most of the metro areas are located in states that also did well in BHI’s ranking of state competitiveness. Massachusetts also ranks number one among all states for its competitiveness.

The Los Angeles metro region finished last due to its poor performance in several measures, particularly environmental policy, government and fiscal policy and infrastructure. Other regions faring poorly were Chicago, Detroit, New Orleans and Memphis.

The metro rankings are part of an annual compendium and are included in the 2005 version of the report. This is the fifth year that BHI has published a Competitiveness Report. All reports are available at www.beaconhill.org.

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