12:01 am - July 24, 2012 — Updated: 12:01 am - July 24, 2012

Sherman-Denison area named to Forbes best for business list

By William C. Wadsack

Herald Democrat

The Sherman-Denison Metropolitan Statistical Area was recently named No. 98 on Forbes magazine’s list of the 100 Best Small Places for Business and Careers in the United States.

To put together the list, Forbes reportedly looked at metrics relating to past and projected job growth, income growth, educational attainment, projected economic growth and the costs of living and doing business. The magazine then factored in the number of highly-ranked colleges in an area and quality of life issues such as net migration patterns, crime rates and cultural and recreational opportunities.

Though the entry is listed as Sherman on the actual list, the page for the entry clarifies that the selection is for the Sherman-Denison Metropolitan Statistical Area, which is comprised of all of Grayson County. The Sherman-Denison area was one of 11 Texas entries on the list.

“The Forbes ranking is another national publication that has ranked Sherman as one of the ‘best’ places in the country to live,” Sherman Mayor Bill Magers said. “This ranking reaffirms the Sherman City Council’s commitment to low taxes, investment in infrastructure and a focus on quality of life amenities. This honor helps bring national recognition to the area, which benefits all of our neighbors.”

Denison Mayor Jared Johnson agreed that the recognition was a benefit to the area and hoped that it would help bring further economic development.

“Being recognized nationally is a testament to the continued emphasis that Denison places on fostering a pro-business environment,” Johnson said. “Our recent flurry of economic development announcements regarding industry expansions and job creation is the product of this culture. Recognitions such as this article help lend credibility from a third party source as we look to not only recruit new business, but help our existing industries flourish in our current climate. Sherman and Denison together have a very bright future.”

The Sherman-Denison area actually ranked higher on the separate Job Growth list, clocking in at No. 88 thanks to 1.7 percent job growth during 2011. The article mentions the area’s 7.3 percent unemployment rate and a cost of living 8 percent below the national average as other reasons for its inclusion on the list. Forbes also points to both Austin College and Grayson College as assets for the area, as well as the recreational opportunities on Lake Texoma. The magazine lists the median household income in the area as $45,712 and the median price of a home as $80,700.

Sioux Falls, S.D., was named the best small place in the country for business and careers, while College Station was the highest ranking city from Texas, coming in at No. 6. The Sherman-Denison area beat out fellow Texas city Waco, at No. 99, and Florence, Ala., at No. 100.