Jacksonville economy strongest in Florida

By Scott Johnson, General assignment reporter, sjohnson@wjxt.com
Published On: Dec 24 2013 07:41:11 AM EST
Updated On: Sep 19 2013 08:59:10 AM EDT

Stocks soared to record highs today, after The Federal Reserve said it would delay an easing of its bond-buying stimulus program until it sees more signs of improvement in the economy. While the central bank doesn't have much faith in the nation's economy - a new study shows Jacksonville has seen some of the greatest economic improvement in the entire country.

JACKSONVILLE, Fla. -

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.

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