In this study, the top 50 cities with the strongest manufacturing economies were ranked, based upon four primary factors: the growth rate of manufacturing output, manufacturing output per capita, the location quotient for manufacturing workers, and the growth rate in manufacturing jobs. A score of 0-100 was assigned to each city based on these factors, with higher scores being ranked more highly.
Owensboro’s growth rate of manufacturing output was 3.5%, manufacturing output per capita was $16,126, the location quotient for manufacturing workers was 2.0, and the growth rate in manufacturing jobs was 4.4%. This left Owensboro with a total score of 40.8/100, placing us number 16 out of the top 50 cities. The highest ranked city was Elkhart, IN with a total score of 68.9/100.
The image featured is a graphic of the top 10 small, midsize, and large cities where manufacturing is booming. The cities were segmented by metropolitan statistical area population, with small (<150,000 population), midsize (population between 150,000 and 500,000), and large (over 500,000 population) cities. Owensboro was ranked number 10 out of the top 10 small cities where manufacturing is thriving.
For more information on this study, visit advisorsmith-com.cdn.ampproject.org.