Debt Relief Can Be Found in Cities with Strong Work Forces
A Change of Scenery Can Help
If consumers are looking for debt relief, one way to speed up the process is to go to cities heavily focused on creating jobs. According to MarketWatch’s annual survey of where businesses tend to settle and create employment, there are some cities that are far above the rest in job possibilities. The following is a list of the top three locations to visit.
Minneapolis-St. Paul, Minnesota
The Twin Cities have over 10 private and public firms that have totaled over $10 billion in sales. Throughout the recession, both cities have remained strong in commerce and the unemployment rate has remained consistently low. In addition, the Twin Cities have proven to be small-business friendly by earning a top ranking among all metro areas in that grouping.
So why are jobs so plentiful in the area? Douglas Baker, chairman and CEO at Ecolab based in St. Paul stated, “Why is it hard to get people here? Because they expect snow to be blowing in July.” Tom Valerius, VP of recruitment for United Health Group agreed, adding, “You sell them on the job, and then you sell them on the Twin Cities. At the end of the day, the big sell is directed toward the spouse more than the executive.”
The Twin Cities are home to 3M Co., General Mills, Travelers Cos, Bancorp, Medtronic, St. Jude Medical, Target and Best Buy. Andy Bessette, Traveler’s COO, stated, “It’s a very educated workforce. The people here, the school systems, are very good.” For consumers looking for jobs, the Twin Cities are a great place to start. Their large business force makes them relatively impervious to economic fluctuations.
Another new entrant to MarketWatch’s survey is Boston. The city has moved up in rankings due to a heavy “concentration of Fortune 1000 and S&P 500 companies.” In addition, Boston remained stable in population growth. Like the Twin Cities, Boston benefits from citizens who have been educated in the city’s wide variety of higher-learning facilities, including Harvard University, Boston University and Massachusetts Institute of Technology.
They also have a wide variety of job openings due to a diversity of companies focused in health care, finance, technology, tourism and education. Tim Sweeney, director of public policy at the Greater Boston Chamber of Commerce, stated, “It really is the skilled workforce that drives these industries. Having that balance has really helped us to sustain the economy.” When consumers in other states are looking for ways to find debt relief, pay bills and handle expenses, Boston’s citizens are somewhat unhampered by the failing economy. A recent poll by the Chamber of Commerce showed that its residents have made small changes to their budgets, but overall have remained fairly stable as the recession has played out.
Finally, the MarketWatch survey showed that Denver, Colorado is another city that has a wide variety of jobs for the unemployed. First Data Corp, building-materials company Pro Build Holds and MWH, a resource manager, are three large privately-held firms that are creating jobs for the population. Although the recession did affect the economy, jobs were mainly stable. As Harold Raminski, stated, “We didn’t have to resort to lay-offs or huge restructurings. We did some quick cut-backs of supplies and were able to rebound…We maintained the same level of hiring also.”
Going Where the Jobs Are
Many consumers are unemployed and having a hard time managing their finances. One of the ways to help the problem is to consider relocating to cities where jobs are plentiful. In particular, it’s the cities where the industries are widely varied that offer the best job possibilities and seem to be the most stable as the economy fluctuates. For people in need of debt relief, relocating may be a viable solution worth exploring.