Manchester was recently ranked the fourth best micropolitian in the state for economic strength. The entire area survey encompassed Manchester and Tullahoma, and ranked the area 51st in the nation out of 551 – in the top 10 percent.
A micropolitian area is geographically defined by the Federal Office of Management and Budget and has at least one city with a population between 10,000-50,000.
“I feel this ranking shows that our economy has remained consistent over several years,” said Manchester Mayor Lonnie Norman. “We strive to make the City of Manchester a Business-Friendly town. Bringing an industry/business to town is one thing but keeping that industry/business happy and thriving is what it’s all about.”
Servierville took the top spot in the state and ranked 35th in the nation. It was followed by Cookeville (39th in the nation) and Shelbyville (43rd in the nation).
The survey was conducted by POLICOM, an organization that specialists in the dynamics of local economies and has been created economic strength rankings for all Metropolitan Statistical Areas since 1996 and all Micropolitan Statistical Areas since they were created in 2002.
POLICOM creates the rankings by looking at the area’s overall growth in size and quality (standard of living); how the economy is behaving – how reactive small business, construction and retail industries are to the area’s flow of money, Medicaid and welfare and the measurable consistency of growth.