As we enter this new year, the Ocala Metro has made a few national lists which are worth highlighting:
U-Haul
Every year, U-Haul unveils their Top 25 Cities for Growth. This list ranks cities based on one-way moves using U-Haul. While not entirely scientific, it is a great barometer of where people are moving. The Ocala Metro has made this list each of the last several years but this year ranks #1 as the top city where people are moving. This is important because of who moves using U-Haul – overwhelmingly it is younger people. We know that 30-39 year olds in the Ocala Metro are growing at double the national average. This is a key demographic for workforce, home ownership, and families.
Wood & Poole
Wood & Poole is a Washington, DC, based economics firm. They recently created their Top 40 Cities for Growth through 2060. They wanted to determine what 40 cities were going to experience the most growth over the next 40 years. They ranked Ocala #30 on their list with the expectation that the population would grow to 610,000. While 40 years projections are not particularly reliable, it is a good sense of where others see the Ocala Metro growing.
Metro GDP
Analysts and talking heads speak frequently of the nation’s GDP or gross domestic product. It is a measure of the growth of the country’s economy. The US Department of Commerce also measures the GDP of the 392 metropolitan areas in the US. Over the last two years, the economy of the Ocala Metro has been one of the 10 fastest growing. The area economy grew 11.3% over this period. That compares to the Florida’s rate of 6.8% and the US rate of 2.9%.
In comparing the Ocala Metro to other fast growing economies, what stood out was the unique nature of the local economy. Most were home to one significant industry or employer. Several of the Top 10 represented major tech economies (Silicon Valley, Austin, etc.). Fayetteville/Northwest Arkansas is home to Wal-Mart. The diverse nature of the Ocala Metro truly sets it apart.
Knowing that not only is the Ocala Metro one of the premier communities to relocate but one that has a fast-growing economy is key to the continued growth and development of our community. Ocala is a truly amazing place to live, work, and play and we are committed to maintaining our Forward Momentum!
