CNN Money Ranks McAllen Metro 7th Fastest Growing In America
Courtesy: CNN Money
CNNMoney: 10 Fastest Growing Cities in America
Their allure: Mild weather, good job prospects and low costs
By Christopher Freeburn, InvestorPlace Writer
The recession has taken its toll on the housing market. But some areas of the U.S. continue to see growth as people move about in search of jobs and better living conditions. CNN Money reviewed data from the U.S. Census Bureau and found 10 cities that have experienced 30% or better population growth between 2000 and 2010.
1.Charlotte, N.C. Population: 1,249,000, up 64.6% — The local chamber of commerce told CNN that Charlotte is the “”second largest financial center in the nation, after New York,” home to big-money names like Citi Group (NYSE:C), Ally Financial, JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC)
2. Raleigh, N.C. population: 884,891, up 63.4% — Surrounded by Duke University, University of North Carolina and North Carolina State, Raleigh is a hot spot for scientists and technicians.
3.Cape Coral, Fla. Population: 530,920, up 60.8% –For a city that didn’t have a resident until 1958, Cape Coral is making swift strides. Affordable home prices, good weather and beautiful beaches are attracting retirees in droves.
4.Provo, Utah Population: 482,819, up 59% — Home to Brigham Young and Utah Valley universities, Provo offers employers a wellspring of young talent. Low crime and abundant natural beauty also draw retirees to the city.
5. Austin, Texas Population: 1,362,416, up 51.1% — Long known for its music scene, technology companies now find Austin a good place to recruit talent, thanks largely to the nearby University of Texas. Tech leaders like Facebook and LegalZoom have recently opened offices. Dell Computer (NASDAQ:DELL) also has a facility close by.
6. Las Vegas, Nev. Population: 1,886,001, up 43.5% — Despite suffering serious setbacks during the mortgage crisis of the last few years, Las Vegas continues to grow. The city is attracting businesses beyond the casino industry, which now contributes less than half of city revenue.
7. McAllen, Texas Population: 728,825, up 39.3% — Benefiting from cross-border commerce, McAllen’s economy has boomed over the last decade. General Electric (NYSE:GE), Nokia (NYSE:NOK) and Panasonic (NYSE:PC) have built facilities around the city, which lies close to factories across the border in Mexico.
8. Knoxville, Tenn. Population: 558,696, up 33.1% — Nearby Oak Ridge National Laboratory is a major employer, drawing scientists and researchers and cultivating a number of start-up companies.
9. Greenville, S.C. Population: 400,492, up 32.5% — This former textile town has become a U.S. beachhead for more than 250 international companies, including BMW, Michelin, GlaxoSmithKline (NYSE:GSK), and Kyocera (NYSE:KYO).
10. San Antonio, Texas Population: 1,758,210, up 32.4% — The Eagle Ford shale deposit and its estimated 3.6 billion barrels of oil means oil industry jobs are plentiful, and the number is growing.
For CNNMoney‘s complete coverage of the 10 fastest growing cities, click here.