These five regions in the United States are experiencing exponential job growth, which is good to keep an eye-on as a potential home buyer, seller, and more. In an article by Jeffry Bartash, he goes over each of these locations to explore why they are so popular for job growth right now.
1. Williamson County, Tennessee
"Williamson County, Tennessee is home to the lowest tax rate of any county in Tennessee," Bartash writes, "and the state itself has no income tax." With a highly educated populace, and some of the nations largest companies, Williamson is a great place to find a home and a job to live a comfortable life. These wealthy suburbs boast a high standard of living, and just south of Nashville, you are close to everything the region has to offer culturally.
Between October 2014 and December 2015, employment increased 6.8%! All fields of work are plentiful, including engineering, business, health care, education, and office support. The county is over 2% above the nations' unemployment rate. With odds like these, Williamson County is definitely worth some research and consideration.
2. Utah County, Utah
One of the fastest growing tech regions in the country, Utah County and Salt Lake County have attracted vast amounts of tech companies over the last decade, increasing employment opportunities for all things tech in the region. Why have tech companies flocked to Utah? Low tax rates, a highly educated populace, and a business friendly government.
"Employment jumped from 6.6% from the fourth quarter of 2014 to the fourth quarter of 2015. The county's unemployment rate is 3.2%" writes Bartash. Many have dubbed the region the "next Silicon Valley", and it has gained its reputation as the Silicon Slopes. This beautiful region of the country is also very construction, transportation, and extraction friendly, for those not savvy on college degrees.
3. Loudoun County, Virginia
Loudoun County, Virginia has seen phenomenal employment growth over the last few years, particularly in the business and technology sector. "The Loudoun economic development agency, for example, claims that up to 70% of the entire world's internet traffic passes through the county each day. So-called data centers that manage internet traffic take up 9 million square feet in the county." That's a lot of space!
This county has long-benefited from its close proximity to Washington, D.C., with its lustrous defense budget, and more. A beautiful region of the country, and plentiful with jobs, Loudoun should be on your list of investigation if you are planning on buying or selling real estate.
4. Chesterfield County, Virginia
Chesterfield County has the largest population in Virginia, and as a result, has one of the lowest taxes in the state. Because of this, businesses flock to this region of the country seeking the high population and low tax regulations.
Both healthcare and retailers are the largest employers in Chesterfield, and tech and businesses try and connect residents to those businesses through regular social media presence. Companies such as Wal-Mart, Amazon, DuPont, and UPS all have a large presence in this county, and have positively impacted employment ratings -- employment growing 6% in just one year.
5. Lee County, Florida
Florida is a popular location for business because it has no income tax, resulting in a low corporate tax rates. Lee County, specifically, has seen exponential growth over the last few decades, resulting in a very young population -- and therefore a great territory for businesses.
The county has seen growth in trade, education, health care, transportation, construction, and hospitality, and they've seen a 5.9% increase in employment throughout Lee County. Because of this, businesses and real estate should keep in mind that these locations will be highly prized over the next decade.
If you're interested in buying or selling a home, keep in mind these locations above to ensure success in that venture, whether or not you are settling down or just trying to make a wise investment. Following where jobs are heading, and looking to the horizon will keep you on track.