According to a recent study Rochester is in the top 20 metro areas!
June 19, 2009
Rochester’s regional economy is in the top 20 of the 100 most populous metro areas. A study by the Brooking Institution divided the top 100 metro areas into groups of 20, ranging from strongest to weakest - and Rochester was in the top 20 for a strong economy. Rochester rated well in areas such as employment, housing prices, foreclosure rates and overall regional economic growth. We did rank dead last for wages however. So what does that mean? A thriving economy with an inexpensive workforce! So entrepreneurs from all over - come to Rochester. Our highly educated, inexpensive workforce and our thriving economy makes the perfect location to create a new business. Our low housing and commercial property prices will also make setting up your first office attractive and inexpensive. Husband your cash and make it last longer by living in a region with lower wages and a better standard of living than 80% of the metro areas in the US. If you are a NY State resident consider that our area ranked better than New York City, Buffalo, Syracuse, Albany and the Hudson Valley region.
Our recession in Rochester is being considered “recession light” compared to the rest of the country. We’re one of the few Northeastern cities where that is true - others in that category come from Texas and the Plains states.
Our overall growth rate is now stagnant - but by coming to Rochester and setting up here you can help turn that around! Our stable housing prices means you don’t have to worry about losing 23% of the value of your home overnight, like in cities like Miami and Las Vegas. While the rest of the country showed a 6.3% decline in housing prices ours climbed by 2.5% - 10th best rate in the country.
And Ventures and Angels - the next time a Rochester entrepreneur approaches you be aware that they are building their company in an area with a strong economy, a low cost of housing and wages, and a thriving real estate and rental market. Your investment dollar will last longer, and be more efficiently used by investing here in Rochester.
