Actionable news
0
All posts from Actionable news
Actionable news in CERN: Cerner Corporation,

We're not in Kansas anymore? Royals' hometown boasts strengthening economy

The third game of the the World Series tonight moves to Queens, with the Kansas City Royals so far dominating, two games to none over the New York Mets. And while this face-off between metro and wholesome Midwest underlies cities with two very different economies and cultures, they both sport strong growth.

Although the hometown of the Mets is known as a hotbed of business, Kansas City, Missouri boasts strong growth across industries, including auto and even tech.

Kansas City, the 37th largest city in the nation with a population of about 470,000, has seen a marked recovery in the unemployment rate, dropping to 4.4% from over 9% during the recession, when industrial sectors were hit hard.

In comments shared during an event on Friday, Kansas City Fed President Esther L. Geroge highlighted that "we have been fortunate to see a labor market that has healed fairly rapidly." The Federal Reserve Bank of Kansas City covers the 10th District of the Federal Reserve.

Kansas City Mayor Sly James told Yahoo Finance that while the city has traditionally been dominated by the auto industry, second only to Detroit, he has seen strong growth across healthcare, financial services, and especially technology.

After all, Kansas City was the first city to roll out Google's (GOOGL) fiber network. "Google put us in the spotlight with an entirely different set of people -- the young, technical crowd, millennials, businesses that need broadband, and creative types," James says.

This has led to further technological inroads for the city, including a recent partnership with Cisco Systems (CSCO) on...


More