Considered “Elite” among cities
Memphis has been recognized as one of the “Top Logistics Metros in the US” by Expansion Management magazine. The report calls Memphis a “Five Star Logistics Metro,” which means that the city is in the top 20% of the Metropolitan Statistical Areas (MSAs). According to the magazine, “metros that earn this distinction can rightfully consider themselves among the elite.”
The study was performed in partnership with Logistics Today magazine and compares 362 MSAs according to 10 major categories: the overall transportation and warehousing industry climate; work force/labor costs, availability and skill levels; road and highway basic infrastructure and spending; road density, congestion and truck safety; road and bridge conditions; fuel taxes and fees; railroad access; water ports (both river/lake and ocean); air service; and interstate highway access. The data comes from a variety of government and proprietary sources.
“It’s no surprise to us that Memphis has again made the list of the top logistics metros in the country,” said Mark Herbison, senior vice-president of economic development with the Memphis Regional Chamber. “With our ideal location, great interstate access, state-of-the-art port facility and the busiest air cargo airport in the world, Memphis continues to be one of the locations of choice for companies looking to easily move raw materials and finished goods at the lowest cost possible.”
In recent years, Memphis has been recognized as a headquarters for business by various publications. Expansion Management placed Memphis 7th in its top 40 real estate rankings in the US for 2005. Inc. magazine named it in the top eight of its 50 best major metro areas in the US for starting and growing a business. Southern Business and Development magazine ranked Memphis as one of the most successful models for economic development in the south, placing the city among the top ten markets over the past decade. According to Bradshaw Company research, Memphis had the highest rate of high-tech start-ups over the last three years among the nation’s 60 largest metro areas.