Bend-Redmond Ranked #6 in Milken Institute's 2024 Best Performing Small Cities Report

The Bend-Redmond metropolitan statistical area (MSA) has been recognized once again for its strong economic performance, ranking sixth in the Milken Institute's 2024 Best Performing Small Cities report. While the region dropped one spot from its fifth-place ranking in 2023, Bend-Redmond remains firmly in Tier 1 and among the top-performing small cities in the United States for the eighth consecutive year.

The Milken Institute’s Best Performing Cities report assesses 403 metropolitan areas across key economic indicators, including job growth, wage growth, high-tech GDP growth, and community resilience. The region continues to excel in several categories, reinforcing its position as a leading destination for economic development and innovation.

Bend-Redmond’s robust labor market is a key factor in its continued success, with five-year job growth ranking 13th and five-year wage growth placing 6th among small cities. Additionally, the metro area ranks in the top quartile in high-tech growth metrics, placing 19th in high-tech GDP growth and 31st in the location quotient for high-tech GDP concentration. The region’s tech sector continues to thrive, with software publishing contributing significantly to Bend’s real GDP growth, which saw an impressive 66.1% increase from 2017 to 2022.

Despite these strengths, the MSA faces challenges, particularly in housing affordability. The region ranks last in housing affordability among Tier 1 small cities, with only 65.1% of households able to afford their housing costs. Income inequality also remains a challenge, with Bend ranking 133rd in the Gini index, signaling disparities in income distribution. Addressing these issues will be crucial for maintaining Bend-Redmond’s long-term economic resilience and competitiveness.

Jon Stark, CEO of Economic Development for Central Oregon(EDCO), commented, “We are proud that Bend-Redmond continues to be recognized as a top-performing city. Our strong job growth highlights the region’s resilience and its ability to attract high-tech industries. However, we are acutely aware of the challenges ahead and remain committed to finding innovative solutions to ensure sustainable growth for our community.”

Bend-Redmond’s continued presence in the top ranks of the Milken Institute’s Best Performing Cities underscores its appeal to businesses and entrepreneurs seeking a dynamic environment with a high quality of life and a strong labor market.

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