The metro area around Austin, Texas is ranked 1 in Milken Institute's "Best Performing Cities" Index.
A competitive annual ranking of American cities finds Austin, Texas to be the most booming city for 2013, thanks to its technology sector. The same driver is at play for the top-four cities: Utah's Provo, San Franciso, San Jose and Salt Lake City, respectively.
"Some of the leading tech metros were successful despite being high-cost, high-regulation locations," says Ross DeVol, chief research officer for the think tank.
Urban Studies theorist, Richard Florida, in further analysis of the Milken's findings wrote: "The biggest takeaway is the clear connection between talent and economic performance. The Milken Index is positively associated with both the share of adults that are college grads (.41) and the share of the labor force made up of knowledge, professional, and creative workers (.35)."
What other cities were powerhouses and why? What can California developers and thinkers take away from the latest data?
Ross DeVol, chief research officer of the Milken Institute and co-author of The Milken Institute's annual "Best-Performing Cities" index