Inc., an online entrepreneurial Web site and magazine, has rated Morgantown 15th in "Overall Best Cities" among cities with metro populations under 150,000 in its May publication, "Boomtowns '06."
As a part of their annual report, Inc. studied 393 population centers across the nation, identifying job creation and other signs of business vitality.
Inc. found that Morgantown's average annual job growth during the last three years was 3.3 percent; five-year job growth was 14.7 percent.
"The big cities are idling, and the real entrepreneurial hot spots are on the periphery — where low costs and favorable regulatory environments make it possible to thrive," writes Joel Kotkin. "The rise of these small communities is the most important trend emerging from this year's survey of the nation's hottest places to do business."
Yuma, Ariz. topped that list.
In another category, "Hottest Small Cities," Inc. ranks Morgantown at No. 12, sandwiched between Panama City, Fla. and Prescott, Ariz.
"Home to West Virginia University, Morgantown is a magnet for the health care industry," Kotkin says. "Major employers include two large hospitals, several government labs, and companies such as generic drug maker Mylan."
Ron Justice, Morgantown mayor, said the overall "boomtown" rating is rewarding since it is based on job growth.
"It's important for those looking to locate here, and it's also an incentive for businesses already here that want to stay," he said.
To compile the rankings, Inc. measured current-year employment growth, as well as average annual job growth during the past three years and compared job growth in the first and second halves of the period comprising the past 10 years.
The only cities besting Morgantown were Sioux Falls, S.D., which led all small metres, Las Cruces, N.M., Fargo, N.D. and Bismarck N.D., according to the May 4 report.
In individual categories, Morgantown ranked 2nd in crime rate, 14th in job growth, and 15th in income growth.
To be considered a metro area, the federal Office of Management and Budget requires at least one urbanized area of 50,000 people.
The metropolitan standing has placed Morgantown on a new playing field, and the city is faring well, said Stacey Brodak, Greater Morgantown Convention and Visitors Bureau executive director.
It is incredibly beneficial to be able to share with visitors, new residents and potential new residents that Morgantown is a great choice for them," Brodak said. "These statistics make 'selling' Morgantown easier. The rankings validate our efforts and sales pitch to those that we talk with."
Forbes examined "small" metros with populations ranging from 60,000 to 220,000. Morgantown's was listed at 113,600.
All small metros in the top 10 are located in the West and Midwest, with the exception of Morgantown and Johnson City, Tenn.
"All of our business ratings were really strong, and we were one of the smallest cities to be rated that high," Justice said.
To calculate living expenses, Forbes used Economy.com to consider housing, transportation, food and other household expenses. Forbes also examined job and income growth, as well as migration trends over the past five years.
Bertrand Sperling, a consultant in Portland, Ore., analyzed crime data for the magazine and developed an arts and leisure index that tracks things like museums, theaters, golf courses and sports teams. The consultant also gauged the education of the workforce and assessed the presence of top colleges in the area.
"We were in the top one-third of everything except leisure and recreation," Justice said. "But in my opinion, that's going to change in a big way, especially with the addition of the Kroc Center."
Joan Kroc, the deceased widow of McDonald's founder Ray Kroc, left $1.5 billion to the Salvation Army to be distributed nationwide to build community centers.
Morgantown is one of six cities whose preliminary application has been approved.
