Wednesday, February 20, 2019

Lewisburg Named Top 20 Dynamic Micropolitan

Lewisburg was recently named a Top 20 Most Dynamic Micropolitan in the U.S. According to a study by the Walton Family Foundation. Click Here to Read Entire Study Lewisburg ranked 14th in the Top 100 Micropolitans as the study stated: Lewisburg is one of the few micros in the top 20 not anchored by oil and natural gas production or natural amenity-centered tourism. Roughly halfway between the growing metros of Nashville, Tennessee, and Huntsville, Alabama, the small town has itself become an enticing environment for companies looking to add manufacturing facilities. The local government’s economic development group has actively advertised the micro to manufacturers, with a webpage containing information on the explicit process to receive tax incentives, the area’s workforce characteristics, and the types of manufacturers the developers are most interested in. This self-branding seems to have been successful, with nine of the micro’s 11 largest employers either coming to the area or expanding existing operations from 2012 to 2016. Such growth has resulted in strong performances across multiple index components, with positive z-scores in all but the level of per-capita personal income and the second strongest 2013-2017 average annual pay growth of any micro. Lewisburg’s impressive rise does not look to be slowing. In mid-2017, Chinese company Minth Group, an automotive parts supplier, announced plans to invest over $13 million in a new manufacturing facility in Lewisburg; the new plant will create 200 jobs.