Phoenix Business Journal: Phoenix cracks ‘Forbes’ top 10 potential boom cities

Phoenix Business Journal

Date: Monday, July 11, 2011, 1:53pm MST - Last Modified: Tuesday, July 12, 2011, 4:00am MST

Despite its recent woes, Phoenix ranked ninth in Forbes magazine survey identifying the top potential boom towns in the U.S.

Phoenix is still a good bet to become a boom economy, despite its troubles in the recent recession, according to a Forbes magazine survey that labeled the next big boom towns in the U.S.
Phoenix ranked ninth on the list, mainly because it still has more jobs than it did in 2000 and its population has become much larger and more diverse than its reputation as a retiree haven.
The study, conducted by Praxis Strategy Group, looked at the 52 largest U.S. metro areas and based one-third of the score on job growth, particularly in the past two years. The other two-thirds of the score was based on a variety of demographic information.
Austin was No. 1 in the survey. Phoenix has found itself in competition with Texas’ capital city over the past few years for high-tech companies, particularly solar manufacturers.