JULY 1, 2013
FOR IMMEDIATE RELEASE
FOX CITIES REGION SLIPS IN NATIONAL ECONOMIC RANKINGS
The Fox Cities Region, including Outagamie, Calumet and the northern portion of Winnebago Counties, saw significant slippage in its rankings against the rest of the nation in a recent annual study completed by NewGeography. The study assesses the performance of the nation’s 398 metro areas, and measures the robustness of a region’s growth both recently and over time.
The index is calculated from a normalized, weighted summary of: 1) recent growth trend: the current and prior year’s employment growth rates, with the current year emphasized (two points); 2) mid-term growth: the average annual 2007-2012 growth rate (two points); 3) long-term trend and momentum: the sum of the 2007-2012 and 2001-2006 employment growth rates multiplied by the ratio of the 2001-2006 growth rate over the 2007-2012 growth rate (two points); and 4) current year growth (one point).
The NewGeography study measures total employment performance; and ranks areas on the best cities for manufacturing, information sector and finance jobs. While actual rankings of both the Appleton and the Oskosh-Neenah Metropolitan Statistical Areas (MSA’s) are generally above average, the two local areas slipped dramatically in most areas during the past year.
In overall performance, the Appleton region dropped 36 places in the 2013 study to 126, compared with a ranking of 90 in 2012. Oshkosh-Neenah saw an even larger drop, with a 2013 ranking of 101, compared with last year’s 52. In each of the three industry-specific measures, both areas saw declines.
While this particular study represents only a single measure of the region’s economic performance, Larry Burkhardt, Executive VP of the Fox Cities Regional Partnership suggested that the results should serve as a wake-up call. “For many years, the Fox Cities Region has enjoyed strong economic performance, largely based on the growth and success of our primary industries. By importing new dollars into the local economy, these employers provide the revenue that supports the retail, service and professional sectors throughout the Fox Cities. To the extent that this sector is losing ground to the rest of the country, we should be very concerned,” Burkhardt said.
Burkhardt also noted that it is this type of information that validates the creation of the Fox Cities Regional Partnership, which was formed in 2012 to aggressively pursue new job growth through existing industry retention/expansion and new industry attraction.
|2013 Size Ranking||2013 Weighted Index||2012 Nonfarm Emp (1000s)||Size Movement||2012 Size Ranking|
Fox Cities Regional Partnership is an affiliate of the Fox Cities Chamber of Commerce. It exists for the purpose of strengthening our local economy by supporting local job creation through the retention, expansion and attraction of primary employers. The Regional Partnership serves as the point of contact for local businesses seeking assistance with labor training, funding, government advocacy, building and land opportunities, demographic and economic information and other individual needs. The Regional Partnership serves the communities of Outagamie and Calumet Counties, as well as the northern portions of Winnebago County.