Cedar Rapids No. 13, Iowa City No. 8 on 'Best Performing Cities' lists

Cedar Rapids and Iowa City ranked near the top in the annual Milken Institute ranking of cities by economic performance for 2011, according to a statement released Monday.

Iowa City climbed one notch in the rankings to No. 8 on the institute's small cities list. Cedar Rapids jumped 15 spots to No. 13 on the large cities list.

The index ranks metro areas based on job creation, wages, gross domestic product, technology and sustainability factors. Texas cities dominated the top five in the list, with San Antonio first, Fort Collins second, Austin-Round Rock third, and Killeen-Temple-Fort Hood fifth.

Cedar Rapids' gains in the list were due largely to stability in electronics manufacturing, financial services and insurances services.Iowa City's gains were due mainly to wage growth and growth in high-technology gross domestic product.

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