Magazine names E'town area among best in nation for jobs

The area has earned a new economic recognition.

The Elizabethtown Metropolitan Statistical Area ranks 16th in the nation when an online journal of information related to urban issues, New Geography, posted its annual ranking of the best cities for new jobs. The rankings included all 398 statistical areas for which the U.S. Bureau of Labor Statistics reports monthly employment data.

Rankings were based on the current and prior year’s employment growth rates, mid-term growth, long-term trends and momentum and current year growth.

Officials say the Elizabethtown area is growing at record rates that compare to cities nationally, in large part because of results of the Base Realignment and Closure initiative at Fort Knox.

The area includes all of Hardin and LaRue counties.

Judge-Executive Harry Berry said the magazine’s recognition, combined with other indicators of growth, show the area’s success leading Kentucky and much of the nation in growth using some of the most recent data available.

“It shows that we’re still on the upward trend,” he said.

Besides Fort-Knox-related growth, the manufacturing, agriculture and service sectors have contributed to the area’s growth, Berry said.

Berry said recent studies have been released that show growth in the metropolitan area in job creation, personal income growth, housing values and employee compensation.

Manufacturing has shown substantial growth, he said.

Industries in the area have seen the peaks and valleys that affected businesses nationwide, but the valleys weren’t that deep, Berry said.

“The corporate citizens we have in our community are stable and strong,” he said.

Moody’s Analytics showed that the area was the first fully contained metropolitan statistical are in Kentucky to move from recession to recovery in August 2009. The region also led all the state’s metropolitan statistical area in job growth during the past year, he said.

Berry said another example of the area’s success is that it was ranked fourth out of 366 metropolitan areas in personal income change by the U.S. Bureau of Economic Analysis from 2008 to 2009.

Total employee compensation in Hardin County increased from about $2.4 billion in 2005 to nearly $3 billion in 2009.

Seven of the top 10 cities ranked on that list include military bases, which shows the economic importance of base realignment, Berry said. The base realignment is expected to be completed in September.

Amber Coulter can be reached at (270) 505-1746 or acoulter@thenewsenterprise.com.

Change in industrial production
February 2010 until February 2011

Kentucky metropolitan areas   Percent change

1. Lexington                         7.36
2. Clarksville/Hopkinsville      7.14
3. Huntington/Ashland           6.98
4. Elizabethtown                    6.65
5. Evansville/Henderson         6.17
6. Bowling Green                    5.74
7. Owensboro                         5.62
8. Cincinnati/Northern Ky.       5.39
9. Louisville                           5.22

Source: U.S. Bureau of Economic Analysis

Change in employment from February 2010 until February 2011

Kentucky metropolitan areas   Percent change

1. Elizabethtown         5.47

2. Evansville/Henderson         1.56

3. Clarksville/Hopkinsville      1.47

4. Lexington    1.3

5. Owensboro  1.02

6. Bowling Green        0.97

7. Louisville    0.63

8. Cincinnati/Northern Kentucky        0.43

9. Huntington/Ashland            -0.35

Source: U.S. Bureau of Economic Analysis

2011 best cities for job growth

1. Killeen, Texas
2. Bismarck, N.D
3. El Paso, Texas
4. College Station, Texas
5. Midland, Texas
6. Austin, Texas
7. New Orleans, La.
8. Dubuque, Iowa
9. Manhattan, Kan.
10. Pascagoula, Miss.
11. Odessa, Texas
12. Corpus Christi, Texas
13. Logan, Utah
14. Houston, Texas
15. Fairbanks, Alaska
16. Elizabethtown, Ky.
17. San Antonio, Texas
18. Dallas, Texas
19. Jacksonville, N.C.
20. Lawton, Okla.

Source: "New Geography" online magazine