City of Rochester
News Release
(Wednesday, Oct. 28, 2009) – The stability of Rochester’s economy is drawing national attention.
CNNMoney.com and BusinessWeek have recently written positive reports on the Rochester economy. And for the second consecutive quarter, the Brookings Institution has ranked the Rochester economy among the nation’s top-20 strongest performing metro areas.
“While the current economic climate has certainly had a devastating impact on the Rochester area, our business leaders know that stability remains the prevailing characteristic of our economy,” said Rochester Mayor Robert J. Duffy. “Hopefully these reports will inspire business leaders in other parts of the country to take a look at Rochester and see for themselves the benefits of investing in such a stable and secure metropolitan area.”
BusinessWeek reported home prices in Rochester and other high-peforming cities “remained steady through boom and bust.”
CNNMoney.com also gave Rochester’s housing market high marks: “Rochester home prices never bubbled during the boom, but they have enjoyed slow, steady growth during the bust. It also called Rochester a “learning center” and cited institutions like the University of Rochester, Rochester Institute of Technology and smaller colleges as economic drivers.
The Brookings Institution’s new MetroMonitor determined that Rochester is among the metropolitan areas that have been least affected by the recession or are experiencing the fastest recovery.
These reports can be found on the following links:
• http://news.yahoo.com/s/bw/20091023/bs_bw/oct2009bw20091021441398 (BusinessWeek).
• http://money.cnn.com/galleries/2009/real_estate/0910/gallery.housing_price_forecast/4.html (CNNMoney.com).
• http://www.brookings.edu/reports/2009/06_metro_monitor.aspx (Brooking Institution).
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News Media: For more information, contact Gary Walker at 428-7405.