CALIFORNIA BUSINESS MINUTE
Fastest Growing Cities
03-22-11
Hi, I am Tim Johnson and welcome to the California Business Minute.
Little Rock, Arkansas based- the Gadberry Group recently announced its annual list of
its Ten Most Notable High-Growth Areas in the US, otherwise known as the “Gadberry
Group 10 from 2010.”
TEN MOST NOTABLE HIGH GROWTH AREAS IN THE US
• Katy, Texas (Houston suburb)
• Haslet, Texas (Fort Worth suburb)
• Keller, Texas (Fort Worth suburb)
• Queen Creek, Arizona (Phoenix suburb)
• Lehigh Acres, Florida (Fort Myers suburb)
• Frisco, Texas (Dallas suburb)
• Casa Grande, Arizona (Phoenix suburb)
• South Jordan, Utah (Salt Lake City suburb)
• Lincoln, California (Sacramento suburb)
• Cary, North Carolina (Raleigh suburb)
“Compiling the 2010 list was especially interesting as we anticipate the release of the
2010 Census household counts, which we are confident will confirm our household counts,”
said Gadberry Group principal Larry Martin. The ten selected places in this year’s list
had average household growth of 150% from 2000 to 2010, compared to last year’s list
average of 170% from 2000 to 2009. Martin noted that, in spite of the economic challenges
of the past few years, there continues to be pockets of growth in the most resilient areas of
the country. Texas appears to once again be bucking national economic trends by capturing
four of this year’s slots. The Lone Star State claimed four spots on the 2009 list, as well.
Industry research indicates that 1.8% job growth over the last year is likely a contributing
factor.
Lincoln, a suburb of Sacramento, was the fourth fastest growing in 2009 but places ninth
on this year’s list. The area added 879 households in 2010 for a year-over-year growth of
4%. However, for the decade, total households grew at 263%. Research indicates that new
office buildings, shopping centers, housing developments and custom home properties have
sprung up in recent years as a part of the local development plan. The area placed first
for average household income growth at 43.17%, ending the decade at $95,899. In addition,
Lincoln had the highest net worth at $498,009, and represented the most financially stable
area with an economic stability indicator average of 8 on a scale of 1-30. The area had 3,390
households with net worth of $1 million dollars or greater. Lincoln’s average length of residence
was the same as Keller, Texas, at 5.3 years. The households for this area are older than any
of the other nine, with an average median age of 44.8 years. This represents a ten year shift
from the median age of 34.5 years in 2000. Lincoln’s Asian households increased more than
any other group, growing from 113 in 2000 to 864 in 2010. Among the 16 different Asian groups
represented in Lincoln, Indian households were the largest group at 22%.
I am Tim Johnson and this has been the California Business Minute.
Gadberry Group uses its own proprietary products and a statistical ranking system that evaluates over
17,000 Census Places. The firm’s selection criteria and ranking methodology include variables such
as percent change, absolute change and emerging Census blocks (those growing from less than 10
households in Census 2000 to over 100 in 2010). The analysis considers total growth from 2000 to
2010, as well as change from 2009 to 2010. Gadberry also weights the analysis using key demographic
variables such as ethnicity, household income, net worth, economic stability, length of residence and
age. For further information see www.gadberry.net
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