Chester County has been recognized as the fifth best county in the United States as a community “ideally positioned to attract modern investment and managed economic growth among all regions with a population greater than 500,000.” The ranking was issued as part of the Fourth Economy Community (FEC) Index by national economic development consultants Fourth Economy Consulting.
Communities recognized by the FEC Index have demonstrated vision, leadership, and regionalism that have led to success in the five elements of the index: investment, talent, sustainability, place and diversity.
Washington County, OR, was rated No.1, Dane County, WI, No. 2, Utah County, UT, No. 3 and Worcester County, MA No. 4 ahead of Chester County. No other Pennsylvania county made the top 10.
Commenting on the 2015 index rankings, Fourth Economy Consulting CEO Rich Overmoyer said, “The Fourth Economy Community Index highlights the elements we’ve witnessed throughout our work that are required to make stronger, more economically resilient communities.”
Steven McKnight, Vice President for Community and Market Assessments for Fourth Economy Consulting, noted: “These communities can provide the talent and place-based strategies that address housing, recreation and amenities for smaller, high values businesses to thrive.”
Ryan Costello, Chairman of the Chester County Board of Commissioners and Co-Chairman of the VISTA 2025 Executive Alliance, stated, “We are very proud of this excellent ranking, as it reflects the hard work of a wide range of the businesses, institutions and individuals that make Chester County such a great place.”
Costello added that this ranking also validates and strongly reinforces the recently completed VISTA 2025 Economic Development Strategy. ”When you look at what the Fourth Economy Index measures as critical to future community success, you find those exact elements at the core of VISTA 2025’s goals and strategies,” added Costello.
Gary Smith, President of the Chester County Economic Development Council, noted that the Fourth Economy Index rating speaks to the focus on economic health and the balance of progress and preservation called for in VISTA 2025. “The recent economic success of Chester County has come from creating an overall environment that nurtures the growth of quality companies with a holistic approach that involves the whole community. The Fourth Economy ranking confirms our renewed focus on that approach in VISTA 2025,” said Smith.
According to Fourth Economy Consulting, the “Fourth Economy” characterizes the most recent phase of our nation’s economy, reflecting a combination of the previous three economies, including agrarian, industrial and technological.” The Fourth Economy Index is available at www.fourtheconomy.com.
VISTA 2025 is Chester County’s recently announced economic development strategy that identified five goals and numerous strategies intended to enhance the already strong economic health of Chester County. VISTA 2025 is available for review at www.VISTA2025.com
The Chester County Economic Development Council is a private, non-profit economic development organization promoting smart growth in Chester County and the surrounding region for more than 50 years. The CCEDC provides proven financing solutions, cultivates workforce talent, leverages business partnerships, and fosters entrepreneurial collaboration. Together, with the support of the private and public sectors, CCEDC initiates, implements and innovates programs that improve the business community and enhance the quality of life in Chester County. For more information, visit our website, www.cceconomicdevelopment.com
