POLICOM Ranks Oxford No. 8 Micropolitan in US

The much-anticipated new economic strength rankings from POLICOM Corporation (policom) were recently released, and Oxford is ranked No. 8 out of 542 micropolitans in the United States.

In 2019, Oxford ranked ninth in the nation in terms of the strength of its local economy. While ranking ninth out of 542 similar communities is a significant achievement, improving that ranking is outright amazing. Now, the ranking of eigth solidifies the notion that the economy in Oxford is stronger than it has ever been and is even much stronger than anywhere else in the South.

Oxford is the highest-ranked micropolitan in the South. The next highest-ranking Southern city is Key West, Florida, which came in at No. 29, followed by Cookeville, Tennessee at No. 32 and Tullahoma, Tennessee at No. 37.

POLICOM Corporation is an independent economics research firm that 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 grow in size and quality consistently. 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 No. 49, 36, 17 and 17, in 2018, 2017, 2016 and 2015, respectively. Jumping in rank from No. 49 to No. 9 and then to No. 8 can be closely attributed to the hard work and partnership between leaders at the city of Oxford, Lafayette County and the Oxford-Lafayette County Economic Development Foundation.

“Oxford is a unique community that is very strong in many respects. Having a third-party designation show the strength of our economy gives us proof that what we are doing is working. The remarkable aspect of these rankings is that Oxford is not only strong, but it has consistently been strong for more than a decade,” said Jon Maynard, EDF President and CEO.

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 paying off for Oxford.

“Holding our ranking in the top 10 means we are doing something special in Oxford. We are taking care of business in a long-term, sustainable way,” Maynard said.

According to POLICOM, Oxford appears to be the definition of a prospering community, which can be quoted by saying: “If a community does nothing to influence its local economy, it will gradually be dragged down the stream toward economic despair. However, if the community steps forward into the flow, it will move toward enhancing the economic quality of life for all who live and work in the area.”

Oxford and its leaders are stepping toward the growth of the current economy.

“This ranking reflects the work of the city, county, university, business community and everyone who truly cares about the community,” Maynard said.

POLICOM has served as an economic development consultant for communities throughout the United States for more than 20 years by assisting and advising communities on how to improve their local economies. A micropolitan area is defined by POLICOM as an urbanized area of at least a population of 10,000 people but less than 50,000 people and must be at least one county. The top 10 micropolitan areas in the United States are:
1. Bozeman, Montana
2. Vineyard Haven, Massachusetts
3. Heber, Utah
4. Lewisburg, Pennsylvania
5. Hood River, Oregon
6. Breckenridge, Colorado
7. Wooster, Ohio
8. Oxford, Mississippi
9. Astoria, Oregon
10. Kalispell, Montana

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

Courtesy of the Oxford-Lafayette County Chamber of Commerce
Hottytoddy.com intern Lainey Stevens contributed to this report