by Jamie Burch
Published: Fri, June 12, 2009 - 2:27 pm CST
Last Updated: Fri, June 12, 2009 - 2:31 pm CST
Forbes Magazine says Mobile is poised to rebound from the recession better than most cities in America.In fact, it calls Mobile one of the ten Best Cities in America for Recession Recovery.
Forbes based the ranking on things like the projected gross domestic product of metropolitan areas across the U.S., as well as unemployment figures, home prices and incomes.
Mobile's unemployment rate is currently 8.5%, but the city's GDP is projected to increase from $13.5 billion to $14.5 billion by the end of next year.
“This is a great mention for our city,” said Mayor Sam Jones. “It points to the city’s bright future. Though it’s good to be mentioned as one of the best cities to rebound from the recession, we do so with caution – realizing that we must continue to be very conservative with our spending."
Forbes refers to having diverse industries, like Mobile’s aerospace, maritime, healthcare and hospitality, as a main reason that a swift recovery can be expected.
Last year, Forbes Magazine named Mobile the Fastest Growing Mid-sized City in America.
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