Houma-Thibodaux ranked among Milken’s best cities

For the third year in a row, the Houma-Thibodaux area was ranked as one of the nation’s best small cities in the Milken Institute’s Best Performing Cities index. Although the area dropped from 16th to 19th overall this year, it still ranked as the top performing small metropolitan area in the state for the second year in a row.

The report is released annually and acts as a scorecard for economic strength and growth for cities across the nation.

Vic LaFont, chief executive officer of the South Louisiana Economic Council, said that the rankings are,” based on three things: growth of jobs, growth of wages, and gross domestic product.”

According to SLEC spokesman Charles Gaiennie, the continued strength of the region is based on the stability of jobs and wages.

“Given the economic landscape of the United States right now, it’s a very, very strong showing,” said Gaiennie.

LaFont attributes the continued success to the character of area residents.

“The difference is the people,” said LaFont. “We’re not better than them, we’re not greater than them. We just think differently. We’re a resilient people. We don’t panic. We just sit back and figure it out. Look around you, and you’ll see how we’re very innovative people. We’re not afraid to think outside the box.”

The Houma-Thibodaux area had the sixth best job growth of all small metropolitan areas from March 2008 through March 2009, and had the eighth best five-year salary and wage growth, according to data from the index.

The area continued to fare well despite recent setbacks.

“It just shows the resiliency of our industry,” said LaFont. “We seem to prosper even in disaster. Whether it be a hurricane or a downturn in the industry, we get creative and we diversify and find a way to get past them.”

LaFont believed that these characteristics would help the area continue to do well, regardless of the challenges it faces.

“This is nothing new for us. It’s a way of life,” he said.