Kiplinger's has released their version of the "Best Cities" list. Notice anything interesting?
No. 1: Huntsville, Alabama
No. 2: Albuquerque, New Mexico
No. 3: Washington D.C.
No. 4: Charlottesville, Virginia
No. 5: Athens, Georgia
No. 6: Olympia, Washington
No. 7: Madison, Wisconsin
No. 8: Austin, Texas
No. 9: Flagstaff, Arizona
No. 10: Raleigh, North Carolina
Almost all of them are major university towns. Morgantown, West Virginia's major university town (which probably didn't make the list primarily due to lack of size), gained national attention this spring for having the lowest unemployment rate in the country and has been growing like gangbusters. With Marshall University's commitment to R&D and Create Huntington's efforts, we expect Huntington to reap similar benefits over time.
Universities not only provide a relatively stable base of high-paying jobs, they have also become key innovation and entrepreneurship hubs. Universities that have established themselves as research centers have served as catalysts for generating high-tech startup companies in addition to playing important roles in furthering diversity, quality of place (cultural offerings, etc.) and technology in the area.
It is very important that WVU and Marshall continue to grow their reputation (and funding) for R&D, but we think smaller colleges can play a similar role in other communities across West Virginia. We're seeing sparks of that happening in places like Glenville, Buckhannon and Bethany. It's a strategy we should seriously consider investing in heavily to grow West Virginia's new economy.
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