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Best Cities 2010: 5 Worst Cities for Economy
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Of the cities and towns we surveyed, these five were at the bottom of the list in the economy category. Bad news for Floridians: the state took a big hit, contributing three of the five cities on our worst list. Here, we round up the communities that struggled most in the weak economy.
(Our list was compiled by using a list of the top 100 cities by population, adding in well-known smaller cities too, and removing cities so close to other large cities that they would have similar data. Then we crunched numbers in 6 economic criteria categories to come up with our list.)
When the economy tanks, so does tourism. Of the cities on our list, no community felt it more than this family-friendly vacation spot. Not helping: falling home values.
Jobs are a problem in Tampa, with a high unemployment rate, and failing local businesses. Property values have also taken a huge hit.
An usually high unemployment rank, an inability to support businesses, and low property values spell tough times for this Ohio town.
Like its fellow Sunshine State cities Orlando and Tampa, Miami has had a hard time creating and sustaining thriving business as of late. Home values also took a beating.