Killeen’s economy continues to attract national attention.
According to a study released this week by independent economic research firm POLICOM, the Killeen-Temple-Fort Hood Metropolitan Statistical Area is ranked eighth on POLICOM’s 2013 Economic Strength Rankings, an improvement from 30th in 2012.
POLICOM produces the study annually, analyzing the economic strength of 366 MSAs across the U.S. Killeen shot up 161 spots since it was ranked 169th in 2006. In addition to research, POLICOM acts as a consultant for communities trying to improve their economies. Killeen is not a client.
Greater Killeen Chamber of Commerce President/CEO John Crutchfield said the study shows that not only has Killeen’s economy fared well in recent years, it is actually getting stronger.
“To investors, those who start businesses, create wealth, provide jobs and pay taxes, the important economic factors are trends over time,” Crutchfield said.
“By POLICOM’s definition, their ‘highest ranked areas have had rapid, consistent growth in both size and quality for an extended period of time.’ For our MSA to be ranked eighth out of 366 MSAs in the U.S. is an extraordinary achievement,” Crutchfield said. “When coupled with other factors, such as the city of Killeen’s recently achieved high-quality credit rating, the achievement is even more remarkable.”
The 2012 study ranked the local MSA the fifth strongest in Texas. The 2013 study ranks Killeen behind only Austin-Round Rock-San Marcos and San Anotonio-New Braunfels, which respectively ranked third and seventh nationally in the POLICOM study.
The study is not an indication of which MSA had the best year. Rather, it takes a holistic approach toward gauging the economy’s long-term strength.
“The rankings do not reflect the latest ‘hot spot’ or boom town, but the areas which have the best economic foundation,” said William H. Fruth, president of POLICOM.
Crutchfield said Killeen’s foundation is an indication of things to come.
“Our region is poised for a tremendous future,” he said.