Raleigh named #41 on Brookings list of world’s 300 leading metros

Posted on 02/01/15 No Comments

Raleigh_North_Carolina_skyline

photo “Raleigh North Carolina skyline” by Atlpedia¬†

 
Raleigh joined an elite list of only two cities recognized in the Top 50 among the world’s 300 leading metropolitan regions by the Brookings Institute. Only four U.S. cities in total made the entire list, which is typically a “where’s-where’s” of cities in Europe and Asia.

Raleigh came in at #41 and Austin, TX landed at #39. The two cities are very similar, as they both boast an exceptional university base and strong high-tech and research industries.

Overall economic impact and gross domestic product growth were cited as the primary drivers for the City of Oaks’ presence on the distinguished list, which uses an extensive list of macro-economic data to assert its findings. Both factors contribute to a very low unemployment rate.

When a region is bookended with such a strong university base, it’s hard for it to ever suffer in downtimes like those regions without such. The state and private university presence in the Triangle creates a significant talent cycle. Many of the nation’s “best and brightest” come here to attend school and then because of work centers like Research Triangle Park and the growing presence of new businesses, remain here to contribute. Furthermore, many of the jobs available in Raleigh and its sister cities are high-paying.

Obviously, all of this bodes well for the real estate market. Sure, that excites us. However, it’s also very comforting to know that our region’s economy will continue to support a healthy and vibrant lifestyle for our family and friends. When an economy sours, people move away and communities become disjointed.

It’s safe to say that’s not much of a worry in the Triangle.

If you’re interested in the entire report, there’s a PDF of it right here.

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