Summary: Wooster has received international recognition as one of the top ten micropolitans in the Americas.
An affiliate of the Financial Times of London has ranked the City of Wooster among the top ten micropolitans in the Americas.
The first ever ranking of American Cities of the Future was compiled by fDi Magazine and its online counterpart fDiIntelligence.com, which are part of the fDi Intelligence portfolio published by The Financial Times Limited. In the ten years since it began publication, the magazine, which focuses on cross-border investment, has emerged as the leading magazine for the business of globalization.
According to Wayne Economic Development Council President Rod Crider, the new ranking focuses on a mixture of data and expert opinion to rank cities which have the best prospects for inward investment, economic development and business expansion.
Woosters ranking comes in the micropolitan division, which includes cities with a population of less than 100,000.
"We are pleased that Wooster was recognized by the fDi American Cities of the Future awards program," said Rod Crider.
"To be recognized as a leading micro city across North and South America signals that our strategic focus on the agbiosciences, R&D, information technology and advanced manufacturing is already transforming our area into a 'City of the Future today," Crider added.
According to Crider the fDi Cities of the Future shortlists are created by in independent collection of data by fDi Intelligence division across 405 cities across North and South America.
This information was placed under six categories - Economic Potential, Human Resources, Cost Effectiveness, Quality of Life, Infrastructure and Business Friendliness.
Wooster placed in the top ten in two separate categories – business friendliness and cost effectiveness.
In determining the ranking for the business friendliness category the panel of independent judges looked at a broad range of criteria including the total number, proportion and growth of companies within the high tech manufacturing, service and knowledge based sectors.
Other criteria included the number of days it takes to start a business and a wide variety of indexes including the Ease of Doing Business, Economic Freedom, Strength of Investor Protection indexes.
Wooster placed tenth on the all important businesses friendliness ranking.
All ten of the cities included on the business friendliness list are located in Canada or the United States. Wooster was the only U.S. Midwestern micropolitan to be named to the list.
Wooster also placed in the top ten in the cost effectiveness category.
In determining the placement on that list the judges looked at criteria including the average annual salary for unskilled, semi-skilled and skilled workers, the average cost to rent office and factory space, the average price of a three bedroom house, energy costs, import and export costs and the corporate tax rates.
Wooster was the only U.S. micropolitan to be named a Top Ten city for cost effectiveness and finished behind micropolitan cities in Costa Rica, Argentina and Canada.
According to Crider Wooster will be recognized at an American Cities of the Future 2011/12 awards ceremony on June 29 in Washington, DC.
fDi Magazines award isnt this first time the Wooster area has been recognized as a top American micropolitan.
Earlier this year the Wooster/Wayne County area was ranked as one of the top six micropolitans in the United States by Site Selection Magazine. The county has ranked among the top six micropolitans in the country in each of the past five years and has ranked in the top 25 eight out of the last ten years. Wayne County also led all micropolitan areas in the Midwest and the State of Ohio in business expansion and attraction.
For more information on fDi Magazines American Cities of the Future ranking visit www.fdiintelligence.com.
