Memphis is making waves in the economic scene, outpacing cities like Chicago and St. Louis in a recent ranking of top U.S. metropolitan areas! This new accolade from Brand Finance, as reported by The Commercial Appeal, is just another example of how Memphis is a rising, top-tier city for business, living, and so much more.
Our climb up the ranks isn’t just by chance. Thanks to our transportation capabilities–including the busiest cargo airport in the world and our key port on the Mississippi River–Memphis is attractive for business leaders looking to invest in areas like logistics, healthcare, and manufacturing. Memphis makes it easy to move goods, helping local businesses thrive!
Another big draw? Our city’s affordability and quality of life! With a lower cost of living compared to many other big cities, we’re a magnet for both companies looking to save on costs and potential new Memphians seeking a more affordable lifestyle. In fact, Memphis was recently named the #1 city where a $100,000 salary goes the furthest. Due to our city’s comparatively low taxes and a cost of living nearly 14% below the national average, Memphis’ cost of living makes it an attractive option for those looking to relocate as their income retains more purchasing power compared to other cities as well as for those currently calling the 901 home.
Several big projects are also putting Memphis on the map. From FedEx’s continuous development of its logistics networks to leaders in the healthcare industry, such as St. Jude’s Children’s Research Hospital, paving the way in job creation and innovation, Memphis isn’t standing still! Most recently, several other businesses have also leveraged technology across sectors such as carbon capture, music and entertainment, and the coffee industry. These achievements are further solidifying Memphis as the capital of the Southern “Digital Delta” and amplifying the amount of opportunity and talent within our local tech industries.
In short, Memphis’s higher ranking over cities like Chicago and St. Louis highlights its growing status as an economic powerhouse. With smart investments and a great cost of living, Memphis is set for even more success in the future!
