With inflation easing and the US economy experiencing continued growth, the turbulence triggered by the COVID-19 pandemic is now largely behind us. In this post-pandemic landscape, metropolitan areas remain the hubs of economic activity. In 2023, US metros collectively grew by 2.6 percent in real GDP, contributing to 91.1 percent of the nation’s overall economic growth. Recognizing their critical role, the Best-Performing Cities (BPC) index evaluates the relative economic performance of 403 metropolitan areas, providing valuable insights into the strengths and vulnerabilities of these economic powerhouses.
The BPC index utilizes 13 key metrics, combining labor market conditions, high-tech industry growth, and access to economic opportunities. This comprehensive approach captures emerging trends and significant shifts in the US economy, offering a detailed benchmark for metro performance.
Our report and interactive online tool break down the components of the BPC index, delivering actionable insights into the factors driving short- and medium-term economic performance in US metropolitan areas. Policymakers, government officials, and business leaders can leverage this analysis to craft targeted strategies for fostering sustainable growth in the metros that drive America’s economy.
Maggie Switek, PhD, is a senior director on the research team at the Milken Institute. She heads all projects related to economic growth and opportunities across regions and communities in the US and abroad.
Brock Smith, PhD, is an associate director on the research team at the Milken Institute. His research has focused on environmental economics and natural resource economics, particularly the economic and social effects of natural resource booms.
Abigail Humphreys, PhD, is a senior associate of the Milken Institute’s Research team where she applies her expertise to projects associated with regional economic opportunity and well-being.
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Even before the onset of the COVID-19 pandemic, the United States was confronted with a number of significant policy concerns. Today, working together to solve those challenges is more imperative than ever. The Milken Institute is committed...