Study: Top metros have robust AI, manufacturing, tourism, energy sectors – Talk Business

A new Heartland Forward study shows the country’s most dynamic metro areas are strong in artificial intelligence (AI) investments, advanced manufacturing, tourism, and energy sources. Most Arkansas metros fell in ranking from the previous study.

The Bentonville think-and-do tank released its Most Dynamic Metropolitans 2024 report on Wednesday (Jan. 29). Link here for a PDF of the report.

This is the sixth year of the report, identifying growth areas in the United States. It ranks 380 metro areas using metrics such as employment growth, average annual pay, real GDP, entrepreneurial activity and educational attainment. The top-ranked metros include Midland, Texas; Wildwood-The Villages, Fla., and Bozeman, Mont.

Key findings show that tech hubs such as Silicon Valley, Calif., and Austin, Texas, are “investing heavily in generative AI, boosting productivity by optimizing operations, automating processes and streamlining decision-making across industries.” Areas like Boise, Idaho, and Sherman-Denison, Texas, are innovating in advanced manufacturing to transform agriculture, semiconductors and defense sectors. Post-pandemic tourism and outdoor recreation growth have contributed to real estate development in Bozeman and Helena, Mont. Top-ranked Midland and Greeley, Colo., have benefited from increased demand for oil and gas production, while lithium and alternative energy sources have boosted economic growth.

“These leading metros demonstrate how strategic investments in AI, advanced manufacturing, tourism and energy can create dynamic economic growth and resilient communities. We celebrate the mayors and economic development teams whose hard work is reflected in the rankings,” said Ross DeVol, CEO and chairman of Heartland Forward. “We hope government leaders will continue to use the lessons of this report to make smart, long-term decisions around economic growth.”

Universities also are growth drivers, contributing to research, innovation, and workforce development. Six of the top 10 metros in the heartland, which comprises 20 central U.S. states, including Arkansas, have the following universities: Texas A&M University, the University of Texas at Austin, Auburn University, the University of Alabama in Huntsville (UAH), the University of Arkansas, and Vanderbilt University.

“Metros are adapting to economic shifts and leveraging their strengths to build stronger, more resilient communities through innovation, entrepreneurship and workforce development,” said Dave Shideler, chief research officer at Heartland Forward. “By identifying key trends and opportunities, the report provides policymakers with valuable insights to drive sustainable growth and improve quality of life across the country.”

ARKANSAS METROS
The study shows that most Arkansas metros declined in ranking compared to the previous study. The Jonesboro metro was the exception, rising to No. 183 from No. 246.

Northwest Arkansas fell to No. 36 from No. 28. The Little Rock metro decreased to No. 162 from No. 113. The Fort Smith metro declined to No. 287 from No. 227.

Asked about the ranking changes for the Arkansas metros, Shideler, the report’s author, provided the following statement: “Cities rise or drop in the rankings if one or more economic indicators change in a year, such as employment growth, pay growth and GDP growth. The most dynamic metros show strong performance in these growth metrics compared to their peers. We are confident in the economic direction of Arkansas and the heartland, especially in Jonesboro which surged 63 positions in the rankings. At Heartland Forward, we’re most focused on how we can help heartland cities rise to the top in the future through our programs and applied research.”

Following are the Arkansas metro area rankings in the new report compared to the previous report.
Fort Smith, No. 287 from No. 227.
Hot Springs, No. 265 from No. 220.
Jonesboro, No. 183 from No. 246.
Little Rock, No. 162 from No. 113
Memphis, No. 350 from No. 351
Northwest Arkansas, No. 36 from No. 28.
Texarkana, No. 325 from No. 320.

TOP 25 METROS
Following are the top 25 metros in the 2024 report:
1. Midland, Texas
2. Wildwood-The Villages, Fla.
3. Bozeman, Mont.
4. Austin-Round Rock-San Marcos, Texas
5. Naples-Marco Island, Fla.
6. Punta Gorda, Fla.
7. San Jose-Sunnyvale-Santa Clara, Calif.
8. Bend, Ore.
9. Provo-Orem-Lehi, Utah
10. St. George, Utah
11. Boulder, Colo.
12. North Port-Bradenton-Sarasota, Fla.
13. Sherman-Denison, Texas
14. San Francisco-Oakland-Fremont, Calif.
15. Greeley, Colo.
16. Hilton Head Island-Bluffton-Port Royal, S.C.
17. Cape Coral-Fort Myers, Fla.
18. Myrtle Beach-Conway-North Myrtle Beach, S.C.
19. Durham-Chapel Hill, N.C.
20. Boise City, Idaho
21. College Station-Bryan, Texas
22. Salt Lake City-Murray, Utah
23. Auburn-Opelika, Ala.
24. Helena, Mont.
25. Wilmington, N.C.

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