10 U.S. cities with the fastest growing economies

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10 U.S. cities with the fastest growing economies
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Are you thinking of moving somewhere new? Sometimes relocating can make all the difference in the world when it comes to finding better opportunities! 

According to 24/7 Wall St. and based on data released by the Bureau of Economic Analysis, the below 10 cities grew the quickest in 2015 — and may be good locations to seek a new career or a fresh start.

Read more: These cities will help pay your student loans!

10. Billings, Montana

10 U.S. cities with the fastest growing economies

Billings, Montana is the largest city in Montana, and as of 2015 has a population of 110,263.

Though it was founded as a railroad hub, Billings has become home to all kinds of industries including oil, coal, commercial and residential construction, building materials, manufacturing, professional services, financial services, banking, trucking, higher education, auto parts, wholesaling and repair services, passenger and cargo air, cattle, media, printing, wheat and barley farming, sugar beet refining, milk processing, heavy equipment sales and service, business services, consumer services, food distribution, agricultural chemical manufacturing and distribution, energy exploration and production, mining, metal fabrication and many others.

The 2015 GDP growth was 6.0% or $8.78 billion, and the largest contributing industry was manufacturing. 

9. Beaumont/Port Arthur, Texas 

This four-county region in Southeast Texas bordering the Houston, TX area had a population of 403,190 in 2,010 and includes Hardin county, Jefferson county Newton county and Orange county, Texas. Manufacturing had the biggest role in this area’s 2015 GDP growth of 6.1% or $20.41 billion. 

8. Bend/Redmond, Oregon

Redmond, Oregon, is a city for those who love to be outdoors, as there is ample access to there is access to recreational activities such as mountain biking, fishing, hiking, camping, rock climbing, white-water rafting, skiing and golf. Redmond had a population of 26,215 in 2010 but continues to grow each year. 

In 2015, the GDP grew 6.9% ($6.62 billion) with construction being the largest contributor to growth.

7. Raleigh, North Carolina

10 U.S. cities with the fastest growing economies

The capital of North Carolina, Raleigh is home to industries such as banking and financial services, electrical, medical, electronic and telecommunications equipment, clothing and apparel, food processing, paper products and pharmaceuticals. Raleigh was also #1 on Forbes’ list of best places for businesses and careers.. 

The 2015 GDP for Raleigh grew 7.0% (68.09 billion), and the largest contributors to growth included finance, insurance, real estate, rental and leasing. 

6. Santa Rosa, California

10 U.S. cities with the fastest growing economies

Santa Rosa is the largest city in California’s North Coast with an estimated 2014 population of 174,170, and is also the biggest city in California’s Wine Country. 

In 2007, Forbes Magazine ranked Santa Rosa 185th out of 200, on its list of Best Places For Business And Careers.

Santa Rosa’s 2015 GDP growth was 7.2% (23.46 billion) and the largest contributors to growth included finance, insurance, real estate, rental and leasing. 

Read more: It’s cheaper to live on a cruise ship than in these cities

5. Visalia/Porterville, California

Visalia is 190 miles north of Los Angeles and is very close to the Yosemite, Sequoia, and Kings Canyon National Parks. The city had a population of 130,104 at the 2015 census, and its main industries include agriculture, livestock and distribution and manufacturing. 

The area’s 2015 growth of 7.6% ($14.23 billion) was driven by natural resources and mining.

4. Provo/Orem, Utah

10 U.S. cities with the fastest growing economies

Provo, Utah’s 2015 7.6% ($18.63 billion) economic growth was primarily fueled by information, with construction and trade also giving the economy a significant boost. 

Forbes has given the city a shout out on its lists several times: It made the 2015 list for ‘Best Small And Medium-Size Cities For Jobs,’ the 2013 list for the ‘Best places for Business and Careers’ and the 2010 list for the ‘Top 10 Places to Raise a Family.’

Additionally, in 2009, the city was listed in Where to Retire magazine as an ‘enticing city for new careers’.

3. Lake Charles, Louisiana

Lake Charles, Louisiana, is about 4 hours from New Orleans and had a population of 71,993 in 2010. This city’s industries include industry and manufacturing, commerce and retail, education, gaming, tourism and petrochemical refining. However, the tourism industry gave this city the biggest boost and contributed to it’s 2015 GDP growth of 8.3%, or $12.37 billion.

2. San Jose/Sunnyvale/Santa Clara, California

10 U.S. cities with the fastest growing economies

The cities of San Jose, Sunnyvale and Santa Clara are a part of San Francisco’s South Bay area, and Silicon Valley is made up of the Santa Clara Valley, known for the large number of silicon chip innovators and manufacturers. It is one of the most populous and affluent areas in the U.S.

This region had a 2015 GDP growth of 8.9%, a whopping $223.09 billion. But, the largest contributor to growth was not technology; it was in fact professional and business services.

1. Midland, Texas

The city that took the cake in terms of GDP growth was Midland, Texas, with 9.4% GDP growth, or $25.58 billion, to be exact, with natural resources and mining being the biggest contributor.

Midland had a 132,950 estimated population in 2015, and though the city’s economy is fueled mostly by petroleum, it also has strong telecommunications and distribution industries.

Read more: 10 cities where you can live large on a $60,000 salary or less

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Charis Brown About the author:
Charis Brown is the Senior Deals Editor for ClarkDeals.com. Her favorite discount store is Nordstrom Rack, where she once bought something for $.01! She and her husband Justin paid off $27,000 of debt in 11 months and now live debt-free.
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