mchen@heraldsun.com; 419-6636
DURHAM -- The Durham metropolitan statistical area has made it to the upper rankings of another rankings list.
The area, which encompasses Durham, Orange, Chatham and Person counties, moved into sixth place on the Milken Institute's "Best Performing Large Cities" list from 21st place last year.
The institute, an economic think tank based in Santa Monica, Calif., attributed the area's economy hardiness to technology start-ups and IBM, the largest employer in Durham's Research Triangle Park.
"The volatility associated with information and communications technologies has hit the region as Nortel Network's bankruptcy is causing layoffs and rippling through the local economy," the institute noted in its report. "Nevertheless, the metro area has weathered the recession remarkably well given its industry mix."
The institute also said that positive net migration, much of it from young professionals, into the area has helped buoy the housing market.
The top 10 economic performers in the country were the following, in order: Austin-Round Rock, Texas; Killeen-Temple-Fort Hood, Texas; Salt Lake City; McAllen-Edinburg-Mission, Texas; Houston-Sugar Land-Baytown, Texas; Durham; Olympia, Wash.; Huntsville, Ala.; Lafayette, La.; Raleigh-Cary.
The Raleigh-Cary MSA had come in second in 2008. The institute noted that the area ranks fifth in total job growth in the country over the past five years, and included UNC-Chapel Hill in the mention even though it's in Orange County, as well as SAS and Cisco.
This was the second time this month that Durham has been mentioned in a top ranking. The November issue of Site Selection magazine had picked North Carolina for the fifth straight year as the "Top Business Climate" in the country, with special emphasis on research universities, Research Triangle Park and the recent decision by data storage company EMC Corp. to invest in Durham.
Reyn Bowman, president and CEO of Durham Convention & Visitors Bureau, said that such rankings are key to Durham's brand. The latest measures on recognition of the city's branding has penetrated nearly 85 percent of residents and 30 percent of adults statewide, Bowman noted.
"We're delighted with the rankings," Bowman said in an e-mail.
"Few communities, if any communities, score across so many different measures," he added.
