The Milken Institute has released a ranking based on their 'best-performing cities' index, which tracks the economic performance of roughly 400 metropolitan areas across the United States. Two Colorado cities were placed in the 'tier one' category, which is reserved for the best of the best.
While no Colorado cities were included among the small city 'tier one' selections, both Denver and Fort Collins made the cut for the 'large cities' list.
The Denver metropolitan area ranked higher at 11th, seven spots up from a 2020 ranking of 18th. Wage growth, broadband access, and growth among high-tech industries contributed to the area's success. It's also worth noting that the high average level of education among its residents makes the Mile High City quite appealing to companies in the tech sector, with more than 50 percent of those in the area 25 or older having obtained a bachelor's degree or higher.
Fort Collins was ranked 12th, nine spots up from a 2020 ranking of 21st. Recent high-tech GDP growth was a key driver behind this jump, which is up 11.5 percent from 2018-2019. Nine high-tech industries are locally represented in Fort Collins, including semiconductor manufacturing.
Colorado Springs earned a 17th place ranking among America's large cities, which classified it as a 'tier 2' city. Greeley and Boulder were also included on the 'tier 2' city list, ranking 43rd and 44th, respectively.
See the full report from Milken Institute here.