Money and Job Growth? Forbes.com Best Places to Get Ahead

Craig W. Barrett, Hughesville, REALTOR®

Hughesville, MD Real Estate

http://www.hughesvillehomes.com/

Six of Forbes.com “Best Places To Get Ahead” are in the Washington, DC Region with three of the Southern Maryland Region and the other four in Northern Virginia.

To determine the best places to get ahead, Forbes.com compiled income and job data from the U.S. Census and Department of Labor Statistics. They looked at every county in the U.S., starting with data from the year 2000 and ranked where median income was rising the most quickly. They limited their list to counties where the median income was at least $75,000 in order to highlight places where people are well-off and getting ahead, as opposed to counties that went from low income to average income.

Then, to further highlight places where paychecks are earned, as opposed to places that are bedroom communities or retreats for the rich, they took into account job growth data going back to 2000. That allowed them to measure where jobs, and local economies, have boomed.

"The places that experienced prolonged income and job booms since 2000 are often satellite economies of larger cities. Within a metropolitan area, the central city is typically the driving force of the economy. But as suburban counties develop, they often turn into secondary economic centers with their own industry and jobs."

With Washington, DC the Federal Government, peripheral and related businesses within a "reasonable" commuting distance, the increased popularity for telecommuting and expansion of business, each of these counties have not only attracted those who work in the District and surrounding areas, but have made noted progress towards building vibrant local economies.

It's also important to note these counties are a little further out and have a lot of open space. I think sprawl is a concern for everyone in these areas. Development that is fiscally, environmentally, and economically smart and includes land-use and long-range planning enhances local communities and economies. Where there's money and job growth, there's increased opportunity for prosperity.

The counties, rankings and what Forbes.com had to say:

Stafford County, VA Ranked First

"It's not in the immediate vicinity of Washington D.C., but Stafford County is within the metropolitan area. It may not be as well-off as nearby counties like Arlington or Loudoun, but the steep curve of economic growth makes it a quickly developing business center. The median income is $85,014, up 27% from 2000, and jobs have increased at just under a 6% clip over that same period of time."

Calvert County, VA Ranked Third

"The median income for Calvert County--located to the Southeast of Washington D.C., closer to Annapolis, Md., than to Baltimore has boomed since 2000. Incomes are up 28% to $84,891, due in part to a 3.5% average job growth over that period of time."

Loudoun County, VA Ranked Fourth

"Part of the old guard in Northern Virginia, Loudoun County is one of the D.C. suburbs of choice for government contractors and local high earners. Incomes climbed 23% from 2000, to a median income of $99,371. Jobs climbed an impressive 5% as the county continues to become its own independent business locale."

Charles County, MD Ranked Fifth

"A Maryland suburb county to the south of D.C. and close to the Chesapeake Bay, economic activity in Charles County has been on the upswing since 2000. Jobs have climbed a modest 2.3% a year and incomes are up 29%, to $80,179. The combination of rapid income growth and slow job growth suggests that economic gains from D.C. commuters moving to the area have affected the data."

Prince William County, VA Ranked Sixth

"In 2000, the median income in Prince William County was $65,960, which, while high for the time, didn't make it one of the wealthiest counties in the country. But the 22.5% boost it's had since, to a median income of $80,783, along with a 4.2% per year job rate increase, has turned it into one of the more affluent counties in the country."

Anne Arundel County, MD Ranked Seventh

"Not as affluent as some of its neighbors, residents in Anne Arundel County have felt a big boost in their wallets since 2000, as a steady 2.5% job growth rate and a 28% income hike has changed the profile of the county to one where the median household has an income of $79,160."

Thank You to my friend Leesa L. Finley, REALTOR® - Wake Forest, NC, for pointing this article out to me. She sent me an email this morning suggesting I blog about this. You gotta love the power of the Rain!