(http://www.thedailybeast.com/etc/designs/dailybeast/img/logo/daily-beast.png) America’s Brokest Cities
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For a nation mired in seemingly never-ending economic doldrums, turns out the summer wasn’t half bad. From July to September, the U.S. economy grew 2.5 percent, double the rate from April to June. Unemployment is expected to stay level through the winter, and consumer spending rose .6 percent in September, coupled with a small increase in personal income.
Yet much of the nation is still struggling to pay the bills. Wall Street can’t figure out whether to be bullish or bearish, and overall student debt recently surpassed $1 trillion. The economy is certainly recoveringâ€"the annual GDP rate was up 2.5 percent from July to September, the best rate in a yearâ€"but ask anyone at Occupy Wall Street: We’re still a long way away from pre-recession numbers making a real difference in the average American’s life.
In short, the national numbers are promising, but plenty of people are still hurting. To find the most struggling cities in the country, we used three data points weighted equally: the most recently available unemployment rate (August 2011), median household income, and average debt. Data is from a recent report by Experian and the Bureau of Labor Statistics. The average credit score for each city is included in the gallery, though not taken into account to determine the final ranking. If this data is any indication, the cities struggling the most right nowâ€"the ones that may take the longest to recoverâ€"are clustered in the South and along the Pacific Coast.
THE LIST:
#30, Las Vegas, Nev.
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Unemployment: 14.2% Median household income: $51,437 Average personal debt: $24,975 Average credit score: 709
#29, Orlando, Fla.
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Unemployment: 10.3% Median household income: $46,478 Average personal debt: $24,747 Average credit score: 734
#28, Miami, Fla.
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Unemployment: 11.2% Median household income: $45,352 Average personal debt: $24,030 Average credit score: 719
#27, Jacksonville, Fla.
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Unemployment: 10.4% Median household income: $50,324 Average personal debt: $25,433 Average credit score: 727
#26, Flint, Mich.
Unemployment: 11.4% Median household income: $38,819 Average personal debt: $23,075 Average credit score: 747
#25, Savannah, Ga.
Unemployment: 9.5% Median household income: $46,755 Average personal debt: $25,561 Average credit score: 716
#24, Ft. Myers, Fla.
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Unemployment: 11.5% Median household income: $43,936 Average personal debt: $24,079 Average credit score: 750
#23, Birmingham, Ala.
Unemployment: 9.0% Median household income: $44,216 Average personal debt: $25,218 Average credit score: 731
#22, Charleston, S.C.
Unemployment: 9.6% Median household income: $48,062 Average personal debt: $26,391 Average credit score: 731
#21, Tyler, Texas
Unemployment: 8.3% Median household income: $43,209 Average personal debt: $26,048 Average credit score: 710
#20, El Paso, Texas
Unemployment: 10.6% Median household income: $36,015 Average personal debt: $23,639 Average credit score: 710
#19, Montgomery, Ala.
Unemployment: 9.9%Median household income: $45,513 Average personal debt: $25,053 Average credit score: 712
#18, Detroit, Mich.
Unemployment: 12.9% Median household income: $48,198 Average personal debt: $25,073 Average credit score: 743
#17, Wilmington, N.C.
Unemployment: 10.5% Median household income: $44,825 Average personal debt: $24,716 Average credit score: 745
#16, Greensboro, N.C.
Unemployment: 11.0% Median household income: $41,120 Average personal debt: $23,971 Average credit score: 748
#15, Reno, Nev.
Unemployment: 13% Median household income: $50,699 Average personal debt: $25,634 Average credit score: 740
#14, Macon, Ga.
Unemployment: 10.4% Median household income: $37,507 Average personal debt: $23,775 Average credit score: 715
#13, Waco, Texas
Unemployment: 8.1% Median household income: $39,143 Average personal debt: $27,004 Average credit score: 713
#12, Yakima, Wash.
Unemployment: 10.0% Median household income: $40,648 Average personal debt: $24,951 Average credit score: 759
#11, Toledo, Ohio
Unemployment: 9.6% Median household income: $41,583 Average personal debt: $25,348 Average credit score: 750
#10, Augusta, Ga.
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Unemployment: 9.6% Median household income: $44,477 Average personal debt: $26,204 Average credit score: 709
#9, Chico, Calif.
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Unemployment: 13.8% Median household income: $41,657 Average personal debt: $24,734 Average credit score: 754
#8, Tampa, Fla.
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Unemployment: 11.0% Median household income: $43,547 Average personal debt: $25,376 Average credit score: 740
#7, Mobile, Ala.
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Unemployment: 11% Median household income: $39,998 Average personal debt: $24,919 Average credit score: 737
#6, Bakersfield, Calif.
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Unemployment: 14.4% Median household income: $45,524 Average personal debt: $25,697 Average credit score: 709
#5, Medford, Ore.
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Unemployment: 11.2% Median household income: $40,177 Average personal debt: $25,013 Average credit score: 760
#4, Greenville, N.C.
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Unemployment: 10.9% Median household income: $39,664 Average personal debt: 25,177 Average credit score: 730
#3, Beaumont, Texas
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Unemployment: 11.5% Median household income: $41,291 Average personal debt: $25,277 Average credit score: 716
#2, Harlingen, Texas
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Unemployment: 12.5% Median household income: $31,736 Average personal debt: $25,074 Average credit score: 686
#1, Columbus, Ga.
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Unemployment: 9.8% Median household income: $36,553 Average personal debt: $27,928 Average credit score: 721
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Mute point when Columbus, GA is surging with strong, permanent economic development.
Compilation of companies HQ'd in this tiny city compares to what we have here in Jacksonville!:
F125: Aflac (NYSE:AFL) largest provider or supplemental insurance in US
F963: Total System Services (NYSE:TSYS) largest processor of credit cards in US
F972: Synovus Financial Corp. (NYSE:SNV) 40th largest bank in US with $29B assets
Carmike Cinemas (NASDAQ:CKEC) 4th largest theater chain in US
W.C. Bradley (maker of Thermos, Rhino, Char-Broil, Zebco, Tiki, and 7 other brands)
Then you have the following BIG developments:
1) The Opening and Expansion of the West Point Kia Plant
QuoteGroundbreaking was October 2006. Production began November 2009. Construction was estimated to cost over $1 Billion.
This Spring the plant hired its 3,000th worker and rolled its 300,000th vehicle off the assembly line. Now the plant has expanded to include a third shift and expects to build 370,000 vehicles a year, supporting close to 25,000 jobs.
Because of the opening of the plant, 38 new businesses including new hotels and restaurants and a Walmart Distribution Center have opened. Now a Christian college based in Atlanta is making the move down to the Columbus area, as well, and will reopen in 2012.
2) People Boom from Fort Benning Expansion
QuoteIn 2005 the people of Columbus were told that their base, Fort Benning, would benefit heavily from the Base Realignment and Closure Act (2005), but until this year very little change could be seen. Starting now the real influx begins bringing an expected 28,000 new military additions and their families, 4,000 new base houses, and 900 new base hotel rooms.
The Army decided to relocate its US Army Armor School and Center to Fort Benning from Fort Knox, adding thousands more trainees to the 116,000 soldiers already trained at the base each year. It is estimated that for every thousand graduates of the school, $1 Million will be pumped into the local economy. Add to this the 2,000 contractor jobs and the thousands of support jobs needed to bring the school to Columbus and expand the base.
In fact, to support all of these new residents, there are roughly 1,500 new apartments under construction or on the drawing boards, and that number is expected to swell. The new additions are not only 300-unit suburban garden apartments, but also include a number of restoration loft projects in the city’s downtown and uptown areas.
Chamber president & CEO Mike Gaymon believes that the base expansion could include a total $3.5 Billion in new contracts to the base and an even larger overall economic impact. It is estimated that the population increase will add $340,000 in annual revenue to each area fast food restaurant alone.
4) Pratt & Whitney Expansion
QuoteAerospace manufacturer Pratt & Whitney is expanding their current presence of 300 employees by 60% as part of its Columbus Engine Center expansion. As part of a reflection on the sign of the times when American manufacturing is making a comeback and as part of a reflection on the Columbus market, Pratt & Whitney remains committed to increasing its investment in the area and in engine manufacturing.
This is one of several newsbits in recent years that describe new manufacturing jobs for the area.
5) NCR ATM Manufacturing Plant
QuoteNCR has decided to bring its North American ATM manufacturing in-house to a plant in Columbus. The decision came in 2009 to open the 350,000 plant, but the total 870 new jobs are still being placed. The plant has attained LEED certification, as well.
Not to mention:
2 new hospitals, including a $335M army medical center UC or wrapping up.
2009 SPLOST tax to build new elementary, middle, and high schools for the 4,000 new students entering the area due to BRAC
A couple thousand new multifamily units UC
A tourism boon due to a few new local and national museums, as well as the undamming of the Chatahoochee River through town, making way for the longest urban kayaking course in the world.
Even major cities would be envious of this level of development, and especially because an area with 200,000 people is benefiting so significantly. The people down there are in no way broke. All information I compiled as part of a larger report on the area.
Here is another thread about this: http://www.metrojacksonville.com/forum/index.php/topic,13599.msg251532.html
Does the presents of an NFL team with it's millionaires actually make jax look a little bit better than it really is?...
Sure.
50 millionaires in a population of 1.4M is going to make a huge impact. ::)
damn numbers never lie do they?
Early 1990's figure bantered about via the Jacksonville Marine Industry was 2400 " Jacksonville " million-aires