by Bradley Parsons
Staff Writer
Relatively high crime, unavailable mass-transit and a lack of research funding made Jacksonville one of the country’s least competitive large metro areas according to a recent study.
Jacksonville ranked 46th on a list of the 50 largest cities in a competitiveness study conducted by Suffolk University’s Beacon Hill Institute. According to its 2003 report, the institute considered a metro area to be competitive if it “has in place the policies and conditions that ensure and sustain a high level of per capita income and its continued growth.”
Taking into account government and fiscal policy, security, infrastructure, human resources, technology and openness to trade; the study rated Jacksonville 3.98 on a scale of 0 (uncompetitive) to 10 (extremely competitive).
Seattle was ranked the most competitive with a score of 7.48; New Orleans ranked last with a 2.7 tally.
High per-capita crime rates contributed to the City’s low score. Jacksonville ranked in the bottom 10 in violent crimes, thefts and murders per 100,000 inhabitants. The survey said metro areas with low crime will be particularly attractive to business.
The study pointed to a lack of available mass transit as contributing to a relatively high travel time to work. Both were factors in the City’s 36th-place ranking for infrastructure.
The City’s work force suffers from from a low percentage of 18-year-olds with high school degrees — ranked 46 — and low per capita college enrollment — 47.
Aggravating a relatively undereducated population was a lack of research and development funding. The study’s technology measurement takes into account “research funding, patents issued, the proportion of scientists and engineers in the labor force, and the importance of high-tech companies.” Jacksonville ranked 44th, according to that criteria.
Among the City’s bright spots were its high rate of business births, a low cost of living and strong environmental policy.
“A higher rate of business births is a particularly clear sign of a competitive environment,” said the study, and Jacksonville fared well in that measurement. The City ranked in the top 20 in net firm creation per 100,000 inhabitants and was designated one of the study’s top 10 entrepreneurial hot spots.
The City also ranked high for its government and fiscal policy. The City’s bond rating — reflecting fiscal responsibility and an ability to secure funding for capital improvement projects that promote growth — ranked 19th nationally.
Mayor John Peyton has proposed to bolster the City’s $31 million “rainy day” contingency fund with a $6 million contribution. Chief Financial Officer Walt Bussells said he will use that fund as evidence of the City’s financial viability during a September visit to New York bond rating agencies. Bussells said he thinks the City can improve its ratings. Wall Street typically gives Jacksonville its third or fourth highest bond rating.
Jacksonville ranked seventh in fewest amount of heavy pollution days.