Springfield is in the bottom 30 percent of U.S. cities in terms of growth, according to a study released today by personal finance website WalletHub.com.
The study equally factors two areas: sociodemographics, and jobs and economy. Sociodemographics is split into three subcategories, such as population growth, while the jobs and economy category has 12 subcategories, including growth in regional gross domestic product per capita and unemployment rate.
Springfield ranked 359th out of the 515 cities examined by WalletHub. It has a score of 39.7 out of a possible 100, ranking 293rd in the jobs and economy category and 368th in sociodemographics.
The Queen City fared best in the subcategory for average annual growth in the number of startup firms. Between 2010 and 2014, Springfield recorded 8.2 percent growth in the amount of startup funds. It ranked fifth in the subcategory under jobs and economy, according to data provided to Springfield Business Journal by WalletHub.
Below are Springfield’s individual growth percentage and ranking, from highest to lowest, in each category.
• average annual population growth, 2011-17, 0.7 percent, No. 288;
• average annual growth in working population, 2011-17, 0.1 percent, No. 392; and
• average annual growth in share of college-educated population, 2011-17, 0.2 percent, No. 406.
Jobs and economy:
• average annual growth in number of startup firms, 2010-14, 8.2 percent, No. 5;
• average annual growth in ratio of full- to part-time employment, 2011-17, 7.5 percent, No. 159;
• average annual growth in number of business establishments, 2011-16, 1.8 percent, No. 205;
• average annual growth in unemployment rate, 2011-17, -0.7 percent, No. 286;
• average annual growth in number of employed, noninstitutional civilians, 1.2 percent, No. 345;
• average annual growth in regional GDP per capita, 2011-17, 0.9 percent, No. 339
• average annual growth in foreclosure rate, 2011-17, -0.06 percent, No. 371;
• average annual growth in median house price, 2011-17, 1.8 percent, No. 390;
• average annual increase in poverty rate, 2011-17, -0.07 percent, No. 394;
• average annual growth in private residential building permits, 2011-17, 4 percent, No. 415; and
• average annual growth in median household income, 2011-17, 1.8 percent, No. 440.
Data for the subcategory of average annual growth in venture investment between 2010 and 2016 were not included for Springfield.
Springfield also ranked 184th out of 249 in midsize cities.
On the overall list, the top city was Fort Myers, Florida, followed by Midland, Texas, and Pearland, Texas.
Other Missouri cities on the list are O’Fallon, which ranked No. 181; Lee’s Summit, No. 215; Kansas City, No. 306; Columbia, No. 330; St. Louis, No. 366; Independence, No. 436; and St. Joseph, No. 463.
Health care clinic Ozzie Smith IMAC Regeneration Center relocated; Mercy opened a $27 million health clinic; and former insurance adviser Clay Trautman started The Cast Group.
“Even though I knew that aspect of the bank, I didn’t get to experience it one on one,” says Judy Hadsall, President and CEO of Multipli Credit Union. Hadsall had previously worked for a large …
Kevin Wyas, founder of ECRI, says he would have saved time and money by outsourcing earlier in his venture. Wyas says by utilizing the expertise of others, you can advance your product to market, get …
Christina Ford, President and Founder of The Rebound Foundation, discovered that she and her husband, Coach Dana Ford, each had experience with domestic violence growing up. They decided they wanted …
Cody Ritter, owner of Base Construction & Management LLC, says a high work volume lets you choose your projects and partners. “The guys the we really like to work for, those are our targets. In a …
Janice Goocher, owner and designer of Canvas Connections, turned her side passion into a business. Goocher, who loves artwork and challenging herself with new things, says she began hosting parties …
Jill Reynolds, Private Client Advisor with Commerce Trust Company, says it’s gratifying to see progress in employees she’s mentoring. Reynolds thinks all employees should be mentored because they …
“I think the way we’ve managed our organization is kind of the people first, technology second approach,” says Thomas Douglas, president of JMark Business Solutions. He says it allows them to …
Selecting the right IT partner for your company is daunting. Not all IT companies are the same. Learn five qualities to look for in your next IT partner beyond the products. This is sponsored …
“I think with the millennial generation, there is a misconception of just kind of flying by the seat of our pants, or we only take passion project jobs or things like that,” says Jenn Darden, …
Angela Frantz with Ultimate Software, says you have to own your mistakes if you want to keep customers’ trust when things go wrong. Frantz says if you let customers know you’re trying to correct …