Oxford Ranks 9th in Nation on Economic Strength

Oxford has been ranked as the ninth micropolitan in the nation for economic strength by Policom Corporation, according to a new report released recently.

A Micropolitan area must have an urbanized area of at least 10,000 population but less than 50,000 population. In 2019, there are 551 Micropolitan Statistical Areas comprised of 657 of the 3,142 counties in the United States.

This year’s rankings moved Oxford from being ranked 49th last year to its ninth spot this year, making it among the top 10 micropolitans in the country. Oxford is the highest ranked micropolitan in the South.

Policom Corporation is an independent economics research firm which specializes in analyzing the dynamics of local and state economies. Annually, Policom ranks all the Metropolitan and Micropolitan Statistical Areas for “economic strength” which is the long-term tendency for an area to consistently grow in size and quality. From its research, it determines if an area is growing or declining, what is causing this to happen, and offers solutions and ideas to improve the local economy.

Oxford’s previous rankings by Policom have been number 49, 36, 17 and 17, in 2018, 2017, 2016, and 2015, respectively. Oxford officials credit the jump in rank to the hard work and partnership between leaders of the city of Oxford, Lafayette County and the Oxford-Lafayette County Economic Development Foundation.

The EDF is a public-private partnership that works to create opportunities for responsible economic investment, raising the per capita income for all citizens of Lafayette County. EDF has recently taken a fresh approach to economic development in the Oxford community, focusing on current trends in technology development companies and entrepreneurship, a focus that is obviously paying off for Oxford.

“This is third-party recognition of the economic growth that is happening in Lafayette County,” said EDF President and CEO Jon Maynard. “Policom uses a sophisticated process for determining economic strength. Their process is scientific evidence of the positive economic atmosphere that we have had in Oxford for a very long time.”

Policom has served as an economic development consultant for communities throughout the United States for more than 20 years, assisting and advising communities on how to improve their local economies.

From its research and educational programs, community and government leaders discover what is driving their economy and what the community will have to do to enhance the “economic quality of life” for the people living and working in the area.

The top ten micropolitan areas in the United States are:
1. Bozeman, MT
2. Summit Park, UT
3. Lewisburg, PA
4. Hood River, OR
5. Wooster, OH
6. Breckenridge, CO
7. Edwards, CO
8. Eureka-Arcata-Fortuna, CA
9. Oxford, MS
10. Ellensburg, WA

A link to the full list can be found here: http://policom.com/rankings-micropolitan-areas/.

Courtesy of the Oxford-Lafayette Chamber of Commerce