Forsyth County was recently ranked by financial technology company, SmartAsset (smartasset.com), as one of the top 10 counties in the U.S. for local economic investments.
Forsyth was the only county in Georgia to make the list.
“Local investment and economic expansion are positive signs for communities because of the inherent quality of life improvements they represent,” said Bruce Hagenau, Chairman, Cumming-Forsyth County Chamber of Commerce Board of Directors.
SmartAsset considered four main factors when conducting this study: business establishment growth, GDP growth, new building permits and municipal bond indebtedness. With regards to business establishment growth, Forsyth County ranked third in the top 10 with a 14.7 percent increase over the past three years. SmartAsset also considered the GDP of an area. They used real growth in the local economy. Forsyth County’s GDP grew by $580 million over the course of the study.
SmartAsset also looked at investment and development in the local residential real estate market. The number of new building permits was used to measure the real estate growth. Forsyth County had the second-highest number of new building permits with 52.2 per 1,000 homes. The final factor SmartAsset considered was investment in municipal bonds. Forsyth County had the lowest bond indebtedness per capita of the top 10.
The financial firm weighed scores from these factors equally then combined the scores to create a final ranking of counties.
Click here for a direct link to the study.
