Recession-Proof Small Cities
Over the past few years, small cities with economies are buoyed by military- and government-related funds have seen per capita income rise while cities across the country generally experienced income decreases. While the wealthiest individuals still tend to be concentrated near large cities with strong finance and business sectors, state capitals, military towns and college towns have more recession-resistant economies, according to Venessa Wong. The recent uptick in personal incomes in cities like Manhattan, Kansas and Jacksonville, North Carolina can be attributed in part to across-the-board increases in federal and military salaries.
'Of large metropolitan areas with populations of 1 million or more, only three had an increase in both net earnings and personal income in 2009: Washington, D.C., San Antonio, and Virginia Beach-all areas with significant government and military presences.'