Louisville Metro tumbled 22 spots in the 2009 Milken Institute/ Greenstreet Real Estate Partners report, which ranks the 200 largest metros in the country based mainly on jobs and economic growth.
Louisville Metro — which includes Clark and Floyd counties — ranked 153, down from 131 in 2008. Four of the top five metros are in Texas with Austin leading the way, according to the Milken Institute.
Jobs, wages and technology growth are some of the variables considered for the study. Louisville Metro fell behind the Clarksville, Tn.; Cincinnati; Hunnington, Wv.; Indianapolis and Fort Wayne among metros attributed to Kentucky and Indiana in the report.
Employment losses tied to manufacturing in the last year undoubtedly contributed to the low ranking said Uric Dufrene, Sanders chair of the Indiana University Southeast business department.
“But over the long term, Louisville has also experienced losses in manufacturing and has not seen growth in sectors like information and professional and business services,” Dufrene said.
And compared with the metros that scored well, Louisville scored low when in comes to job development.
“Looks like Louisville ranked low in short term and long term job growth, compared to other metro areas,” Dufrene said. “The lowest rankings for Louisville Metro also appeared in the high tech area.”
ON THE WEB
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Floyd County
Louisville, Southern Indiana area rank low for job growth
Area ranked 153 out of 200 largest metros
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