Hickory Metro's Economy versus similar U.S. MSAs

Below I have have tried to bring together the Metropolitan Statistical Areas that rank closest to our own (Hickory-Lenoir-Morganton MSA). Our Metropolitan area is the 138 largest MSA market in the United States. I have included in this analysis, the 5 markets larger and 5 markets smaller than our own.

When we look at these similar metropolitan areas, that I mention below, the populations range from a high end of (Peoria, Illinois) 371,206 to a low end of (Fayetteville, North Carolina) 348,940. So as you can see these areas are very much similar to our own (360,471). The population growth, since 2000, of these cities range from a high of (Anchorage, Alaska) 13.37% to a low of (Peoria, Illinois) 1.18%. Out of these 10 cities, 6 had higher population growth rates than Hickory. 4 of these cities (Anchorage; Killeen, TX; Tallahassee, FL; and Rockford, IL) had growth rates above 10% and a fifth (Ann Arbor, MI) had a growth rate of 8.44%.

I have also included data, in the statistics below, from the Milken Institute. This is one factor that Richard Florida used to determine his creativity index that I alluded to in the previous article Hickory -- A Lack of Creativity?. "The Milken Institute/Greenstreet Real Estate Partners Best Performing Cities Index ranks U.S. metropolitan areas by how well they are creating and sustaining jobs and economic growth. The components include job, wage and salary, and technology growth. The full report can be downloaded here."

So here is the information on cities that correlate to our own as far as population. Three are State Capitals, one is the largest city in its state, several are home to major universities, and several have major military instillations. What you will see is that This Ain't Podunkville Anymore and recognizing that fact is one of the keys to solving our problems.

Stats below:
5-Year Job Growth - Metropolitan area job growth relative to the United States average between 2002 and 2007. U.S. average = 100.0

5-Year Wages & Salaries Growth - Salary and Wage disbursements growth relative to the United States average between 2001 and 2006. U.S. average = 100.0

5-Year Relative High Tech GDP Growth - High tech sector output growth relative to the United States average between 2002 and 2007. U.S. average = 100.0


133 Peoria, IL MSA Milken rank - 43 Unemp = 8.9%Pop. 371,206
5-yr Job Growth (02-06) 101.31 Rank: 81
5-yr Wages & Salaries Growth Score: 107.30 Rank: 44
5-yr Relative HT GDP Growth (2002-2007) Score: 106.15 Rank: 53
Populatin Growth since 2000 - +1.18%
Largest City – Peoria (113,546)

Higher education: Bradley University, Midstate College, the University of Illinois College of Medicine at Peoria, the Downtown and North campuses of Illinois Central College, and the Peoria campus of Robert Morris College are based in the city.

Public Transportation – (Peoria) - Public bus service is provided by the Greater Peoria Mass Transit District, which goes by the name CityLink.

Economy and Employers - AmerenCILCO, Archer Daniels Midland, Bergner's, Carson Pirie Scott & Co. Caterpillar Inc. (world headquarters), CEFCU — Credit union, Clifton Gunderson LLP (national headquarters) Komatsu Mining Systems, Maui Jim (world headquarters) , National Center for Agricultural Utilization Research — largest USDA research facility, RLI Corp. (world headquarters).


134 Killeen-Temple-Fort Hood, TX MSA Milken rank -13 Unemp = 6.1% Pop. 370,008
5-yr Job Growth (02-06) 103.26 Rank: 57
5-yr Wages & Salaries Growth Score: 1021.80 Rank: 8
5-yr Relative HT GDP Growth (2002-2007) Score: 133.55 Rank: 10
Population Growth since 2000 - +11.88%
Largest cities – Killeen 86,911 Temple 54,514 (both as of the 2000 census)

Higher Education – Texas A&M University–Central Texas, University of Mary Hardin-Baylor, Central Texas College (Community College)

Economy and Employers
Fort Hood - the largest army post in the United States


135 Montgomery, AL MSA Milken rank -38 Unemp = 8.9% Pop. 365,962
5-yr Job Growth (02-06) 102.33 Rank: 71
5-yr Wages & Salaries Growth Score: 104.46 Rank: 72
5-yr Relative HT GDP Growth (2002-2007) Score: 111.90 Rank: 34
Population Growth since 2000 - +5.61%
Largest City – Montgomery (Capital of Alabama, pop. 201,568 as of 2000 census)

Higher Education – public universities Alabama State University, Troy University (Montgomery campus), and Auburn University-Montgomery, private colleges/universities Faulkner University, Huntingdon College, and ABA-accredited law school Thomas Goode Jones School of Law

Economy and Employers
Maxwell Air Force Base, the State of Alabama, Baptist Health, Hyundai Motor Manufacturing Alabama , Alfa Insurance, the City of Montgomery, 754th Electronics Systems Group, Jackson Hospital & Clinic, and Rheem Water Heaters (1,150). One Fortune 1000 company, Colonial Bancgroup, is headquartered in Montgomery.


136 Trenton-Ewing, NJ MSA Milken rank -62 Unemp = 7.4% Pop. 365,449
5-yr Job Growth (02-06) 100.89 Rank: 86
5-yr Wages & Salaries Growth Score: 103.11 Rank: 82
5-yr Relative HT GDP Growth (2002-2007)6 Score: 105.30 Rank: 59
Population Growth since 2000 - +4.19%
Largest City – Trenton (Capital of New Jersey, Pop. 82,804)

Higher Education - Princeton University, Institute for Advanced Study, Rider University, The College of New Jersey, Thomas Edison State College and Mercer County Community College

Economy and Employers
The state of New Jersey

Public Transportation - Public transportation within the city and to/from its nearby suburbs is provided in the form of local bus routes run by New Jersey Transit. SEPTA also provides bus service to adjacent Bucks County, Pennsylvania.


137 Anchorage, AK MSA Milken rank -63 Unemp = 7.4% Pop. 362,340
5-yr Job Growth (02-06) 102.54 Rank: 67
5-yr Wages & Salaries Growth Score: 107.79 Rank: 38
5-yr Relative HT GDP Growth (2002-2007) Score: 101.28 Rank: 77
Population Growth since 2000 - +13.37%
Largest City – Anchorage (Alaska’s Largest City, Pop. 279,243

Higher Education – the University of Alaska Anchorage,[46] Alaska Pacific University, Charter College,[47] and the Anchorage campus of Texas-based Wayland Baptist University. Other continuing education facilities in Anchorage include the Grainger Leadership Institute, Nine Star Enterprises, CLE International, Nana Worksafe, and PackBear DBA Barr & Co.

Economy and Employers –
Anchorage's largest economic sectors include transportation, military, local and federal government, tourism, and resource extraction. The Ted Stevens Anchorage International Airport is the world's third busiest airport by cargo traffic, surpassed only by Memphis and Hong Kong. The Port of Anchorage receives 95% of all goods entering the state. The United States Military has two main bases, Elmendorf Air Force Base and Fort Richardson as well as the Kulis Air National Guard Base in Anchorage. While Juneau is the official state capital of Alaska, there are actually more state employees who reside in the Anchorage area. Many tourists are drawn to Alaska every year and Anchorage is commonly the first initial stop for most travelers. The resource sector, mainly petroleum, is arguably Anchorage's most visible industry, with many high rises bearing the logos of large multinationals such as BP and ConocoPhillips. Era Aviation and PenAir, two airlines, are headquartered in Anchorage.

Public Transportation -
Anchorage has a bus system called People Mover, with a central hub in downtown Anchorage and satellite hubs at Dimond Center and Muldoon Mall.



138 Hickory-Lenoir-Morganton, NC MSA Milken rank -191 Unemp = 15.4% Pop. 360,471
5-yr Job Growth (02-06) 91.09 Rank: 193
5-yr Wages & Salaries Growth Score: 86.91 Rank: 195
5-yr Relative HT GDP Growth (2002-2007) Score: 93.90 Rank: 130
Population Growth since 2000 - +5.46%
Largest City – Hickory (Pop. 42,000)

Higher Education – Lenoir-Rhyne University, Appalachian State – Hickory, Catawba Valley Community College, Caldwell Community College and Technical Institute, Western Piedmont Community College

Economy and Employers -
The Hickory area is home to many leading manufacturers of furniture (before most jobs in that industry were shipped over to China) and fiber optic cable. It is estimated that 60% of the nation's furniture used to be produced within a 200-mile (320 km) radius of Hickory. Forty percent of the world's fiber optic cable is made in the Hickory area. Lenoir is the headquarters of Broyhill Furniture company, one of the largest furniture companies in the United States and part of Furniture Brands International. It has historically been one of the town's largest employers. The Bernhardt and Fairfield furniture companies are also located in Lenoir. However, in the 1990s, these companies began outsourcing their work overseas, and they have closed many of Lenoir's furniture factories and laid off workers, causing many local businesses either to close or move to other cities. This has harmed the economy in Lenoir, leaving many households living below the poverty line.Google, Inc. has commenced construction of and opened a server farm in Lenoir. The move, it is hoped, will boost the local economy and provide much-needed jobs for the area, which has been harmed by outsourcing of furniture manufacturing jobs overseas.


139 Tallahassee, FL MSA Milken rank -115 Unemp = 7.1% Pop. 352,319
5-yr Job Growth (02-06) 102.99 Rank: 60
5-yr Wages & Salaries Growth Score: 100.86 Rank: 98
5-yr Relative HT GDP Growth (2002-2007) Score: 95.14 Rank: 119
Population Growth since 2000 - +10.00%
Largest City (Tallahassee, Capital of Florida, Pop. 168,979)

Higher Education –
Barry University School of Adult and Continuing Education - Tallahassee Campus, Flagler College - Tallahassee Campus, Florida A&M University, Florida State University, Keiser University - Tallahassee, Lewis M. Lively Area Vocational-Technical School, Tallahassee Community College

Economy and Employers
The State of Florida

Public Transportation –
StarMetro (formerly TalTran) provides bus service throughout the city.


140 Rockford, IL MSA Milken rank -155 Unemp = 13.4% Pop. 352,290
5-yr Job Growth (02-06) 97.99 Rank: 138
5-yr Wages & Salaries Growth Score: 93.92 Rank: 172
5-yr Relative HT GDP Growth (2002-2007) Score: 94.02 Rank: 127
Population Growth since 2000 - +10.02%
Largest City – (Rockford, Pop. 155,115 as of the 2000 census)

Higher Education
Rockford Business College, Rockford College, Rock Valley College, and St. Anthony College of Nursing. In addition, it hosts several satellite branches of other schools, including Judson College (based in Elgin), Northern Illinois University (based in DeKalb), Rasmussen College[3], and the University of Illinois College of Medicine (based in Chicago).

Economy and Employers –
The Rockford economy has suffered since the decline of the manufacturing industry in the late 1980s. In February 2009, The Wall Street Journal published a series of stories on Rockford and its mayor focusing on various challenges faced by the city, including higher unemployment and lower education levels of workers compared to some cities. The airport is home to United Parcel Service's second largest air-hub. The Chicago Rockford International Airport is presently ranked as the twenty-second largest cargo airport in the nation when measured by landed weight.


141 Ann Arbor, MI MSA Milken rank -192 Unemp = 9.1% Pop. 350,003
5-yr Job Growth(02-06) 91.45 Rank: 192
5-yr Wages & Salaries Growth Score: 93.05 Rank: 176
5-yr Relative HT GDP Growth (2002-2007) Score: 75.52 Rank: 191
Population Growth since 2000 - +8.44%
Largest City - Ann Arbor (7th largest city in Michigan, Pop. 114,024 as of the 2000 Census)

Higher Education
University of Michigan, Concordia University - Ann Arbor, a campus of the University of Phoenix, and Cleary University, Washtenaw Community College , Eastern Michigan University. Ave Maria School of Law

Economy and Employers –
The University of Michigan shapes Ann Arbor's economy significantly. It employs about 30,000 workers, including about 7,500 in the medical center. Other employers are drawn to the area by the university's research and development money, and by its graduates. High tech, health services and biotechnology are other major components of the city's economy; numerous medical offices, laboratories, and associated companies are located in the city.

Public Transportation - The Ann Arbor Transportation Authority (AATA), which brands itself as "The Ride", operates public bus services throughout Ann Arbor and nearby Ypsilanti.


142 Evansville, IN-KY MSA Milken rank -142 Unemp = 8.7% Pop. 349,717
5-yr Job Growth(02-06) 93.78 Rank: 186
5-yr Wages & Salaries Growth Score: 98.29 Rank: 128
5-yr Relative HT GDP Growth (2002-2007) Score: 106.62 Rank: 48
Population Growth since 2000 - +2.01%
Largest City - Ann Arbor (3rd largest city in Indiana, Pop. 121,582 as of the 2000 Census)

Higher Education
University of Evansville , University of Southern Indiana , The Indiana University School of Medicine -Evansville Center for Medical Education on the campus of USI. Ivy Tech Community College, ITT Tech, Harrison College, and Oakland City University's School of Adult and Extended Learning. Economics and

Economy and Employers –
Evansville is the regional center for a large trade area in Indiana, Kentucky, and Illinois. The broad economic base of the region has helped to build an economy which is known for its stability, diversity, and vitality. Major industries today include manufacturing, warehousing and distribution, retailing, health care, and finance and business services.


143 Fayetteville, NC MSA Milken rank -52 Unemp = 9.2% Pop. 348,940
5-yr Job Growth (02-06) 104.79 Rank: 41
5-yr Wages & Salaries Growth Score: 117.71 Rank: 11
5-yr Relative HT GDP Growth (2002-2007) Score: 98.86 Rank: 88
Population Growth since 2000 - +3.66%
Largest City - Fayetteville (Pop. 121,015 as of the 2000 Census)

Higher Education
Fayetteville State University, Methodist University, Fayetteville Technical Community College

Economy and Employers –
Fort Bragg and Pope Air Force Base.


The Hound believes that Hickory has the resources to compete with any one of the cities listed above. We used to be able to do that, but we have lost our Brand. Hickory was Furniture, Textiles, and Fiberoptics, but those industries are gone and we must find a new way.

Most of the cities above have had to deal with change and some are fairing better than others. Killeen, Peoria, and Montgomery are in the top quarter of MSAs as far as total economic growth numbers and Fayetteville, Trenton, and Anchorage aren't far behind.

What the Milken Institute numbers expose about Hickory-Lenoir-Morganton is that we saw poor job growth (193 out of 200), wage growth in this area has been abysmal (195 out of 200), and High Tech Industry is not being developed like it needs to be (High Tech GDP is 130 out of 200). The bottom line is that we are #191 out of 200 MSAs overall and that is unacceptable.

One issue that I have noticed from the statistics above is that all of these MSAs have a centrally focused city at the heart of the area. Hickory is the least populated, Largest City in the metros analyzed. Some of these Largest Cities dominate their statistical area. I think that the City of Hickory really needs to try to start growing. Hickory is at the heart of the MSA and it needs to be the straw that stirs the drink. We have to have successful businesses within the Hickory City Limits. We need to work with these businesses to help them grow and prosper, in turn Hickory will grow and prosper.

We must become proactive in developing our resources. Some of the areas above have more educational opportunities than us, but by no means do we appear to be lacking in comparison to most. The key isn't to have education available. The key is to move people towards educational resources that can be utilized with tangible opportunity brought to completion on the other end. We must develop employment opportunities for the educated at a living and sustainable wage.

This is why people need to realize that the opportunities brought forth by Google and Apple will bring positive momentum towards the Technology sector in our community. Tech is our way to get involved in the Creative Economy. Our local officials need to further foster these High Tech developments by expanding our Broadband capacities and creating favorable conditions necessary to achieve a High-Tech corridor. That will entice techies to move to the area and set up shop. I truly believe that will create good, productive, high paying jobs.

I believe the unemployment and underemployment issues we face today are undergirded by the consequences of a riddled puzzle long in the making. We as a city and region cannot solve our economic woes until we thoroughly break down and understand the consequences that have brought us to this point in our history. Look at Milken's numbers and you will see a definite correlation with unemployment statistics.

That is what I am attempting to do. We understand many of the issues we face, but how we face these issues will determine how efficiently and expediently we can bring this community back towards positive economic momentum. Let's just look at the facts and the statistics and leave personal feelings and attachments out of this process. I honestly believe that if we do that, then we will be able to revolutionize Hickory into something bigger, better, and brighter.
**edited Hickory is 193 in 5 year job growth statistics, not 83