Friday February 16, 2007
Expansion Management, a national magazine for business and corporate executives, has named Louisville one of America’s 50 “hottest cities” for expansion.
The magazine -- which reaches 45,000 company presidents, CEO and directors -- cited the 2006 expansion of the United Parcel Service’s Worldport as one of Louisville’s success stories. The $1 billion expansion will create more than 5,000 jobs.
“Louisville’s a city on the move -- and not only do we have large companies like UPS expanding, we also have medium and small businesses that are growing,” Louisville Mayor Jerry Abramson said.
Abramson announced this week that ZirMed, a local health care technology company, will help build a $25 million, 12-story high-rise in downtown Louisville to meet its expansion needs.
“ZirMed is one of our many success stories. Our city is open for business,” Abramson said. “We’re a great place to live – and to work.”
Expansion Management has published its Top 50 Hottest Cities list since 1999. In previous years, the magazine ranked the Top 50 but this year only listed them alphabetically.
“We asked 80 prominent site location consultants, based upon their experiences during the past two to three years…to list their choices for the nation’s best cities for expanding and relocating companies,” Expansion Management managing editor Ken Krizner said.
The consultants were asked to consider the nation’s 362 metropolitan areas, then list the Top 50 based on several factors, from business environment to work force quality to operating costs and incentive programs.
“Simply making this list means that these metros, in the eyes of the premier site location consultants, are in the upper tier of cities for expansion and relocation opportunities,” Krizner said.
Expansion Management is published every other month and is also available online at expansionmanagement.com
Bill King, the magazine’s chief editor, said Louisville and the 49 other hot cities “have a built-in advantage when companies look to site a new manufacturing or distribution facility, or headquarters operations.”
“They are well-prepared to attract and retain businesses,” he said. “They have logistical advantages, a high quality of life, an available work force, and favorable tax and political climates.”