The Danville micropolitan area has once again been ranked in the top tier of micros for new and expanding business projects by SITE Selection magazine. The area includes Boyle and Lincoln counties.
Out of 576 micropolitans in the U.S., Danville was tied for a rank of No. 27 nationally and was ranked No. 2 in Kentucky, according to a press release from the Danville-Boyle Economic Development Partnership.
A Micropolitan Statistical Area contains an urban core (Danville) of at least 10,000 but less than 50,000 in population.
Each micro area consists of one or more counties, including the county containing the core urban area (Boyle), as well as any adjacent counties (Lincoln) that have a high degree of social and economic integration (as measured by commuting to work) with the urban core.
Danville has ranked in the top 100 micropolitan communities in the United States for the past seven years.
“Given the recent Academy Awards, I can compare SITE Selection’s rankings as the Oscars of the economic development profession,” said Jody Lassiter, president and CEO of the Danville-Boyle County Economic Development Partnership.
“I am gratified to see that the Danville Micro continues to perform competitively in our business development results among 576 micropolitan areas in the country.”
SITE Selection magazine’s annual Governor’s Cup rankings have placed Kentucky fourth in the nation for new and expanded industry activity in 2013.
SITE Selection, an Atlanta-based publication, has rated the states annually since 1978.
The ranking is based on a state’s total number of qualified projects as tracked by Conway Data Inc.’s New Plant database.
Qualified projects include those that meet at least one of three criteria:
• involve a capital investment of at least $1 million;
• create 50 or more jobs; or
• add at least 20,000 square feet of new floor space.
During 2013, Kentucky generated 163 projects that met the above standards for SITE Selection’s Governor’s Cup consideration. In total, 281 location or expansion announcements were reported in the state, resulting in 14,058 projected new full-time jobs. Capital investment is estimated at nearly $3.3 billion.
In addition to the Governor’s Cup, SITE Selection recognizes top metropolitan and micropolitan areas for their economic development successes.
Four projects from Boyle and Lincoln counties were considered in the rankings.
“While only four of our projects were accepted by the magazine’s strict criteria, we actually had 10 new and expanded projects in Boyle County to commit or complete investments of more than $111.3 million and 386 jobs,” Lassiter said.
Ten Kentucky communities made the magazine’s Top Micropolitans list. Those communities include:
• Paducah (tied for 16th)
• Danville (tied for 27th)
• Mount Sterling (tied for 27th)
• Union City, Tenn./Ky. (tied for 27th)
• Frankfort (tied for 41st)
• Murray (tied for 70th)
• London (tied for 70th)
• Mayfield (tied for 130th)
• Maysville (tied for 130th)
• Somerset (tied for 130th)
Lexington and Bowling Green were listed in the Top 10 Metro Area Rankings.
The article and rankings can be viewed in their entirety at www.siteselection.com.