March 13, 2009 – (RealEstateRama) — For the second consecutive year, the Sioux City metro ranks first in the nation for economic development, according to results released this morning by Site Selection magazine, a leading corporate real estate and economic development publication based in suburban Atlanta, Georgia. Ron Starner, General Manager of Site Selection magazine, made several stops in the Sioux City region today to announce that with a total of 20 qualifying projects, the Sioux City, Iowa, Nebraska, South Dakota metropolitan region won the 2008 economic development competition for communities with populations between 50,000 and 200,000 people.
“The Sioux City metro area has once again emerged as the top metro in its population category and has increased its winning margin over the runner up metro to 10 projects,” said Site Selection Editor in Chief Mark Arend. “This means that more corporate real estate executives and site selection consultants are finding what they need in the region, including the right labor mix, cost structures and logistics benefits. The Sioux City economic development community is to be commended for its first place performance two years in a row.”
The 2008 rankings scored the total number of economic development projects based on qualifying criteria established by the magazine’s publisher, Conway Data, Inc. Tracked by Site Selection’s “New Plant Database,” the annual competition focuses on new corporate location projects of significant economic and community impact. New facilities and expansions included in the rankings must meet at least one of three criteria: capital investment of $1 million or more, creation of a minimum of 50 new jobs, or the addition of at least 20,000 square feet of new floor space. Retail, government and school projects are not eligible for consideration.
Sioux City Economic Development Director, Marty Dougherty, stated, “The Sioux City metro economy continues to perform well despite challenging economic conditions. In 2008 we experienced significant growth in the healthcare, industry and office sectors. This kind of national recognition is extremely valuable in promoting our region as a successful place to conduct business.”
Despite rapidly declining economic indicators globally and nationally, the Sioux City metro has seen relative stability with several economic metrics that are proving distressing to other parts of the country. For example, Sioux City was recently recognized as the most affordable housing market in the nation by Coldwell Banker and was in the top 20 MSA’s for housing appreciation, according to the Office of Federal Housing Enterprise Oversight (OFHEO). In addition, the national unemployment rate climbed to 8.1% last week, the highest rate in over a quarter century, according to figures released by the U.S. Department of Labor. The Sioux City region’s unemployment rates, however, remain several percent below the national average at 4.3% according to the most recent monthly data available from Iowa Workforce Development.
Site Selection, a 55-year-old corporate real estate publication based in Atlanta, Ga., annually tracks new corporate announcements of significant impact. The annual rankings appear in its March issue, distributed this week to more than 47,000 subscribers, who include the nation’s top site selectors, CEO’s and COO’s. Site Selection’s rankings evaluated the metropolitan statistical area (MSA) as defined by the U.S. Census Bureau which includes Sioux City and Sergeant Bluff, Iowa; South Sioux City, Nebraska; and Dakota Dunes and North Sioux City, South Dakota. The counties of Woodbury, Dakota, Dixon, and Union also comprise a portion of the Sioux City MSA.
2008 represents the third consecutive year the region has been ranked among the top three in its category. In 2006, the Sioux City MSA tied for third place and last year the Sioux City metro ranked first.
For more information, please visit www.siteselection.com
Marty Dougherty
Economic Development Director
712-224-5500
