The Jacksonville economy is on the mend, according to a new study in the Jacksonville Business Journal which says that the economy in the River City is growing at a quicker pace than any other major metro in the country and had the 16th strongest economy in America last month.
For years there has been a lull in Jacksonville’s economy, but the Business Journal’s economic index shows that Jacksonville’s economy is strongest in Floirda. Just last year Jacksonville was ranked 99th.
“You’re seeing a lot of companies relocating to Jacksonville because of that. Deutche Bank, for example, we’ve actually doubled our staff in our company,” said Pragmatic Works’ Brian Knight.
All of Florida’s major cities have seen major jumps from their ranking just last year. Tampa now sits at 20, Orlando at 32 and Miami now has the 44th strongest economy in America.
“I’ve noticed some increase in activity,” said Katherine Coleman. “Town center is blowing up, I see jobs coming into Jacksonville, so I don’t see that being a surprise,” said Katherine Coleman.
The Business Journal rankings are based on an 18-part formula that assesses private-sector job growth, unemployment, earnings, housing-price appreciation and construction and retail activity.