For Immediate Release
May 9, 2002

LOS ANGELES - California cities remain strong in the annual Forbes/Milken Institute study of the best places to do business and advance a career in America. Neither the economic slowdown nor the technology downturn kept the state from having six metros in the top 10 spots in this year's survey.

Published in the May 27 issue of Forbes magazine, the 2002 Best Places survey has California cities holding 10 of the top 25 spots on the list, with San Diego capturing the No. 1 slot. According to the survey, the 15 Best Places to do business in America are:

1. San Diego, CA
2. Santa Rosa, CA
3. Las Vegas, NV
4. Ventura, CA
5. McAllen, TX
6. Boise, ID
7. San Luis Obispo, CA
8. Oakland, CA
9. Brownsville, TX
10. Orange County, CA
11. Riverside-San Bernardino, CA
12. West Palm Beach, FL
13. Boulder, CO
14. Dallas, TX
15. Vallejo, CA

Nearly 300 U.S. metro areas were ranked according to wage and salary growth, job growth and high-tech output growth, among other criteria. This year, the study included a "job momentum" category that tracks employment during the first quarter of 2002 to gauge how metro areas were dealing with the effects of the slowing economy.

The No. 1 city, San Diego, has "the most diversified high-tech economy in the U.S., with hundreds of biotech, communication, software and information technology outfits," the survey found. Meanwhile, five-year job growth in Las Vegas, the No. 3 metro area, is the best in the U.S. at 32 percent.

In contrast, last year's No. 1 pick, San Jose, fell to 61 this year largely because of the burst in the Internet bubble. San Francisco, No. 3 last year, fell to 54.

Forbes and The Milken Institute used the most current statistical data available in all measurement categories - primarily from the federal government - including job growth, earned income and technology output.

View the ranking of the top 200 metros.
View the ranking of the 96 smaller metros.
View Forbes' coverage of this year's ranking, including slide shows and an interactive map.

Contact
Skip Rimer, Director of Programs and Communications
(310) 570-4654
E-mail: srimer@milkeninstitute.org

About the Institute: The Milken Institute is a nonprofit, independent economic think tank whose mission is to improve the lives and economic conditions of diverse populations around the world by helping business and public policy leaders identify and implement innovative ideas for creating broad-based prosperity. It is based in Santa Monica, CA. (www.milkeninstitute.org)