Cape Girardeau-Jackson area ranks high in economic survey

A new survey ranks the economy of the Cape Girardeau-Jackson area 145th among U.S. metropolitan areas.

Florida-based Policom Corp. ranked 366 areas with a population of 50,000 or more. The Cape Girardeau-Jackson area was third in the state behind Kansas City and St. Louis.

The 23 factors used to determine an area's economic strength included the number of jobs in the retail and construction industry, per-capita earnings by place of residence and per-capita income from welfare programs and Medicaid assistance.

The Cape Girardeau-Jackson area scored higher than college towns such as Wichita, Kan., Tuscaloosa, Ala., Lincoln, Neb., Gainesville, Fla., and Waco, Texas. It also was ranked above Tucson, Ariz., and New Orleans. The Houston area was ranked first while Danville, Ill., came in last.

"Economic strength is the long-term tendency for an area to consistently grow in both size and quality," said William H. Fruth, president of Policom, a company that specializes in analyzing local and state economies. "The rankings do not reflect the latest hotspot or boom town but the areas which have the best economic foundation."

The news comes at a time when the state is seeing rising unemployment.

The Missouri Department of Labor and Industrial Relations reported that the state's June unemployment rate is 9.3 percent, an increase from 8.7 percent in May and from 6.1 percent during the same month in 2008. Cape Girardeau County's unemployment rate stands at 7 percent, up from 6.2 percent in May and from 5 percent a year ago.

Still, city leaders express hope in the future of the area economy.

"While no community is without challenges, I do believe that our challenges are significantly less than other areas," Cape Girardeau Mayor Jay Knudtson said. "I also believe that much of our success and ability to achieve is due to our Heartland core values -- hard work, community service, church and family. I am absolutely convinced that it is these basic core values that separate us from other communities."

The Policom ranking is just the latest for the area.

Last month Money magazine voted Jackson as one of the 100 Best Places to Live in its 2009 ranking of small towns, with a ranking of 59th.

Last August, Southern Business and Development magazine named Cape Girardeau as the 35th best city with a population of less than 250,000 in which to conduct business.

Jackson Mayor Barbara Lohr said she believes the work ethic of residents is a key component of winning awards.

"Just like so many things we have a great area in which to earn a living," Lohr said. "And that will continue for many years to come."

bblackwell@semissourian.com

388-3628

Notable cities and where they ranked:

Houston, Texas 1st

Washington, DC 2nd

Charlotte, NC 3rd

Dallas-Fort Worth, Texas 4th

Nashville, Tenn. 5th

Madison, Wisc. 6th

Denver, Colo. 7th

San Diego, Calif. 8th

Kansas City 9th

Salt Lake City, Utah 10th

St. Louis 62nd

Cape Girardeau-Jackson 145th

Tucson, Ariz. 146th

Wichita, Kan. 153rd

Tuscaloosa, Ala. 154th

Lincoln, Neb. 174th

State College, Pa. 185th

Columbia, Mo. 193rd

College Station, Texas 201st

Gainesville, Fla. 207th

Springfield, Mo. 211th

Jefferson City, Mo. 213th

Waco, Texas 218th

St. Joseph, Mo. 258th

New Orleans, La. 269th

Joplin, Mo. 308th

Danville, Ill. 366th