Residential Real Estate

Pittsburgh Business Times
Pittsburgh, PA (May 15, 2010)

Metro Pittsburgh has the 73rd strongest economy in the United States, according to a study released Wednesday by Policom Corp.

The top 10 are Seattle; Washington, D.C.-Arlington-Alexandria; Denver; Houston; Sacramento, Calif.; Salt Lake City, Utah; Des Moines, Iowa; San Diego; Madison, Wis.; and Dallas-Fort Worth-Arlington.

So what constitutes a top area in terms of economics?

"The top rated areas have had rapid, consistent growth in both size and quality for an extended period of time," said William Fruth, president of Palm City, Fla.-based Policom. “The rankings do not reflect the latest ‘hotspot’ or boom town, but the areas which have the best economic foundation. While most communities have slowed or declined during this recession, the strongest areas have been able to weather the storm.”

The study focused on 366 metropolitan areas, including Pittsburgh. The firm considers a metropolitan area to be at least one urbanized geographic location that has a population of 50,000 or more persons.

To determine how these areas are performing, Policom measures 23 different economic factors.

The data company followed 20 years of data covering 23 economic factors to create the rankings. The most recent study focused on a 19-year period stretching from 1989 to 2008.

Policom is an independent research firm that focuses on economics and specializes in analyzing local and state economies.

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