The Milken Index measures regions for job creation and retention, the quality of jobs produced, and overall economic performance. The report measures growth in jobs, wages and salaries, and technology output between 2002 and 2007, and incorporates data through March 2008 to check recent momentum.

Employment growth is weighed the most heavily in the index, which also incorporates other measures, including some to reflect the concentration and diversity of technology industries.

“This report from the Milken Institute is very illustrative of what’s happening in the state of Utah,” said Jason Perry, executive director of the Governor’s Office of Economic Development. “These rankings show that we’re creating the right kind of jobs, we’re creating high paying jobs, and we’re creating jobs that will last in the industries of tomorrow,” Perry added.

The Provo-Orem metropolitan area has a population of 493,000, with a median income of $42,000.

The top five cities on the Milken Index are rounded out by Raleigh, North Carolina; Salt Lake City, Utah; Austin, Texas; and Huntsville, Alabama.

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