Another kudo: City 2nd-most cost-effective
Huntsville included in magazine article on 'Cities of the Future'
Friday, June 10, 2005
Huntsville came in second place in a ranking of the most cost-effective U.S. cities in Foreign Direct Investment magazine's "Cities of the Future 2005/06."
Chattanooga, with "extremely attractive rental and salary rates," was judged the most cost-effective U.S. city. Three cities tied for third place - Jacksonville, Fla., New Orleans and Oklahoma City.
Alabama tied for first place with Iowa and Texas in the cost-effective category at the state level.
"This is the latest in a string of domestic and international media acknowledgments of Huntsville's desirability as a place to do business," said Brad Jones, vice chairman of economic development for the Huntsville/Madison County Chamber of Commerce. The chamber's Huntsville Regional Economic Growth Initiative is showing its effectiveness in establishing Huntsville/Madison county as a stronger and more visible community in nationwide competition for economic growth, said Jones.
Foreign Direct Investment magazine is a publication of the London-based Financial Times Group. Cities and states were ranked according to economic potential, cost effectiveness, human resources, information technology and telecommunication infrastructure, transportation infrastructure, foreign direct investment strategy and quality of life.
"FDI's acknowledgment of Huntsville's cost effectiveness for business adds one more element to the greater picture painted by the cumulative recognition our community has received this year," said Ethan Hadley, the chamber's vice president for economic development. A recent report by Salary.com of living costs and average pay in nearly 200 U.S. cities ranked Huntsville the No. 2 most favorable city in the nation. Last month, Expansion Management magazine ranked the Huntsville metro area No. 2 nationally per capita for scientists and engineers. And Forbes this year named Huntsville its sixth best city for business and careers.
"Everything that these publications are saying about Huntsville/Madison County validates our marketing message," said Hadley.
Other categories for "U.S. Cities & State of the Future" were best transport, best human resources, best quality of life, best information technology and telecoms. Chicago was judged "U.S. City of the Future," and Texas was picked as "U.S. State of the Future."
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