Every year, The Kiplinger Letter is released to direct jobseekers and
entrepreneurs to the most predicted prosperous states in which they could
thrive easier. The following article is a summary of the original Kiplinger
Letter; below is the link to the original blog as well.
Exceeding the national average
employment growth rate of 1.8%,
these ten states are predicted to be the most likely to see the fastest
employment gains this year. Ranging rates between 2.7% and 3.5% prove just how
effective the next 12 months could be for these states and their economic
development. Although their growth rate could be slower, the larger states with
higher populations will most likely see the highest numbers of new jobs, but
even still, three large states are among these ten as well as the five with the
biggest gains: California, Florida and Georgia.
1.
Idaho
Representing a population of
1,655,000, Idaho is supposed to increase their job growth by 0.6% this year,
reaching an impressive 3.5% for 2016 job
growth! The state has plans in line to add 23,580 jobs, exceeding their 2015 mark by over 4,000! Idaho has
been involved with several tech and aerospace industries as well as military
bases that have been boosting spending in surrounding areas. Furthermore, more
and more residents are drawn to the Gem State as well as several companies; in
fact, many have started to expand here! Cradlepoint, a wireless data company,
is developing rapidly in Boise, agricultural firm J.R. Simplot is hiring 600
for a new processing plant in Kuna, Micron Technology, a semiconductor
manufacturer, has 200 job openings for its plant expansion planned to finish in
early 2017 and Chobani is expanding its plant in Twin Falls! Additionally,
multiple separate companies have development plans in Idaho.
2.
Arizona
With an increase of 0.6% in job
growth, Arizona caps their predicted 2016
job growth rate at 3.2%, estimating an approximate 84,380 new jobs this year! The unemployment rate at year-end 2015
was 5.9%, meaning the Grand Canyon State can expect a 0.4% drop by year-end
2016. The housing and construction markets have finally turned around in the
sunny state, drawing many people to the cities with the states low taxes and
cost of living. Home Depot will add 800 jobs at an online customer support
center in Tempe, Northern Trust Corp. has plans to hire 1,000 new employees by
2018, Banner Health is building a $400 million hospital expansion in Tucson, and
in Phoenix, an additional 1,600 jobs are expected to come through at the hands
of Farmers Insurance and Cenlar.
3.
Utah
Although Utah’s unemployment rate
is to rise 0.3% throughout the year to a projected 3.4%, the state is prepared
to add 42,720 jobs, creating the 2016 job growth rate of 3.1%! Entrata,
a property management software developer, is investing $6 million to create 191
jobs over the 1,400 it now has while finance company SoFi is expected to add
400 jobs over the course of the next few years.
4.
Oregon
Due to its lower prices than the
bigger cities in the region, Portland proves to be an attractive location for
tech companies; in fact, New Relic recently moved more than 200 jobs from
Seattle to Portland! Overall as a state, Oregon has a projected job growth of 3.0% this year, lower
than 2015’s 3.3%, but still bringing 53,360
new jobs to the Beaver State! Under Armour has decided to relocate its
footwear design department from Baltimore to Portland in attempt to use
Oregon’s skilled workers as Nike, Adidas and Columbia Sportswear have.
5.
Florida
Boasting the large population of
20,271,000, Florida has a 2016 projected job
growth rate of 3.0%, adding 242,870
jobs this year! The state’s unemployment rate is to drop another 0.2% to
4.9%, lower than the national average of
5.4%. In Orlando, multiple health-care projects are sprouting including a
new cancer care center that is supposed to create 500 construction jobs as well
as 200 permanent jobs, assumedly in the medical field; approximately $100
million have been invested into this project. Moreover, Citibank has
transferred 150 jobs from Hartford to Tampa and medical device company Arthrex
is to add 350 jobs in Ave Maria.
6.
Georgia
Georgia has a predicted 3.0% job growth this year, expecting to
add 128,030 jobs! Most of this is
due to the need for employees in the distribution center industry; in fact,
more than 1,200 jobs are expected to arise through HD Supply, Dollar General,
Papa Johns, Polymer Logistics and Shorr Packaging! Furthermore, Equifax, the
credit bureau, is adding 650 in midtown Atlanta while the software developer,
Keysight, is to add 200 developers to the capital as well.
7.
Washington
Planning to add 88,320 more jobs in 2016, Washington’s
rate for job growth is set at 2.8%.
Because of Boeing’s workforce reduction to cut costs, the tech industry is to
“step it up a notch” by contributing thousands of jobs to even the year out,
especially in Seattle. Amazon, over the last two years, has added 15,000 jobs
to the region! In addition, Facebook has doubled its Seattle workforce to 1,000
and Starbucks plans to add 100 positions to its tech department.
8.
Tennessee
Increasing its job growth by 0.3%
to 2.8%, Tennessee is projected to
add another 80,980 jobs this year,
primarily through the automotive industry. General Motors will require 800 new
positions to carry through its planned expansion and Hankook Tire will add
2,000 jobs to the state, 200 to its new headquarters in Nashville and 1,800 at
its new factory in Clarksville. Volkswagen, additionally, plans to develop its
facilities in Chattanooga, despite the recent Volkswagen emissions scandal,
which should add 2,000 jobs in the next year. Several other corporations have
decided to relocate headquarters to The Volunteer State or expand factories,
including Bridgestone, HCA Holdings, Regal Entertainment, TeamHealth and TAG
Manufacturing.
9.
Colorado
Although it may seem as if Colorado
is slowing down this year from last, The Centennial State is still extremely
productive! Only dropping 0.4% in job growth this year, Colorado is expected to
produce 68,630 jobs at a 2.7% growth rate. Several companies are expanding in the
popular Denver area, including Fidelity Investments, Gusto, DaVita and Lockheed
Martin Space Systems.
10.
California
Last, but certainly not least, the
land of 40 million people: California. Because Silicon Valley (the headquarters
of Google and Facebook) still attracts many IT companies, including those of
world class, LeEco, a Chinese firm, has decided to open a North American
headquarters in San Jose. Amazon is adding two new distribution centers in
Tracy and Eastvale, creating 1,500 jobs! Finally, the major economic push in
this year’s California industry is seen in the health care firms projected to
create 60,000 jobs! Overall, the state has a 2.7% job growth rate and 433,400
projected jobs for 2016!
