The Most Recession Proof Cities
May 14, 2008
I was just checking out the Forbes Website and they have a great list out today for the new job seeker. I mean if you are going to build a career and are thinking of starting off in a new city you want to pick one that have the most stability. So I figured I would share their list of the top ten “Recession Proof Cities” and my thoughts on them with you.
The cities are (in descending order) are,
- Oklahoma City, OK
- San Antonio, TX
- Austin, TX
- Houston, TX
- Charlotte, NC
- Dallas, TX
- San Jose, CA
- Raleigh, NC
- Salt Lake City, UT
Now let’s have a look at what all/most of these cities have in common. They most common things I notice are,
- They are all in the southern states
- With the exception of one (San Jose) none are in the inflated markets of the West Coast or North East
- Real estate stability is evident in all of them (San Antonio Real Estate in particular is being called a “gem” by investors right now.)
- Four are in Texas which is being boosted by oil and gas right now, as is Oklahoma
- All have a strong mix of industries including financial, high tech, manufacturing, education, natural resources and professional services.
- With the exception of California all the other states have very low taxes on business, incomes and property compared to national averages.
So as you consider where to build your career take a look at these locations and you can also utilize these common traits to find other cities and towns that have a similar make up. The key though really is to understand that nothing is truly recession proof. You goal should be to build your skills, knowledge and experience as diversely and rapidly as possible. The best people are always in demand but living in a good market sure doesn’t hurt either.
~ The Job Virgin