Raleigh has been named the best-performing large metropolitan area in the U.S. by the Milken Institute in its Best Performing Cities Index. This ranking is based on factors such as labor market performance, tech industry growth, and economic opportunities.
According to City of Raleigh website, this is Raleigh's first time leading the ranking in over ten years, though it has consistently ranked in the top three in recent years. Raleigh Mayor Janet Cowell stated, "Raleigh consistently tops ‘best-of’ lists for good reasons," and mentioned factors such as "Our highly educated pipeline of talent, innovative startups, and low cost of doing business attracts high-tech firms, advanced manufacturing, and corporate headquarters from all over the world. Our parks and greenways, our vibrant downtown, and our diverse music, art, and restaurant scene offer plenty of options to enjoy time with family and friends outside of work. We’re honored to receive this recognition of our efforts from the Milken Institute."
The Milken report highlighted the role of local universities in supplying a skilled workforce and Raleigh's strong labor market, which has outpaced national employment growth since 2018. However, the report also noted challenges, including rising housing costs and issues with housing accessibility post-COVID.
