Lee EDC Release Claims Economic Progress

SANFORD LEAPS TO 34TH IN ECONOMIC STRENGTH

AMONG 'MICROPOLITANS' IN THE UNITED STATES

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. 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.

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.

The Charlotte-Gastonia-Concord, NC-SC ranked first among Metropolitican Statistical Areas, with Raleigh-Cary ranking 24th.

The full report is available on line at policom.com/microrank.htm.
Release from Lee Economic Development Commission