Spartanburg ranked No. 1 small metro in US for 2021 economic development

Spartanburg was the No. 1 small U.S. metropolitan area in terms of economic growth for the 2021 calendar year, according to a study by Stessa, a company that provides tools and information to real estate investors.

In addition to topping the list of small metro areas, Spartanburg metro came in 4th place overall, regardless of metro area size. 

Stessa ranked the economic growth of both states and various-sized metropolitan areas by analyzing data from the Bureau of Labor Statistics, the U.S. Census Bureau and Redfin, to create a composite score for each location. 

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The composite score consisted of four factors: 

  • Percentage change in total employment from January to May 2021
  • Unemployment rate from May 2021
  • Average monthly building permits per capita (averaged over January to May 2021)
  • Average monthly home sales per capita (averaged over January to May 2021)

The Spartanburg metro area scored a 81.9 to lead the “small metros” category (100,000-349,999 residents) by a substantial margin. The next five highest scores ranged from 74.1 to 71.7. 

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“This is another national recognition primarily due to the strength of our public and private partnerships. With 80 diverse projects in the pipeline, we are confident about Spartanburg’s long-term ability to develop economic opportunities for the people of our community,” OneSpartanburg, Inc. President & CEO Allen Smith said in a press release. 

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