Washington Metro Area Second Strongest Economy

Washington Metro Area Second Strongest Economy
Washington, D.C. has the nation’s second-strongest economy out of 366 metro areas, based primarily on two decades’ worth of jobs and income data, according to a report released last week by economics research firm Policom Corp. Richmond was number 63. Virginia Beach was number 93.
To compile its report, Florida-based Policom said it measured 23 different economic factors. Positive factors in the rankings include wages and income broken down in several ways, plus jobs in key sectors; negative factors include welfare and Medicaid spending.
“The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time,” William Fruth, president of Policom, said in a statement. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation. While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm.”
The company did not release details of data that went into each city’s ranking.
Seattle was number one. Denver, Houston and Sacramento rounded out the top five. Washington has ranked number two the last two years and in the top three over the last seven years.
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source: Denver Business Journal