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Des Moines named Best City for Young Professionals by Forbes

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Forbes Magazine recently ranked Des Moines number 1 on their list of “Best Cities For Young Professionals”.

To come up with the rankings, the top 100 largest metropolitan statistical areas were analyzed based on seven evenly weighted factors including: local unemployment rates, three-year job growth projections, the number of small and large businesses per capita, the median salaries for 24- to 34-year-old employed college graduates, Moody’s cost of living index, and the percentage of the 25 and older population with college degrees in the city.

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Des Moines secured the number 1 ranking with a higher concentration of big businesses than any other city with one big business for every 568 residents.

The capital city has also been attracting companies that are relocating from the coasts due to 16% lower than the national average business costs. This also spurs growth among startups and established businesses alike.

Due to the growing opportunities, Des Moines enjoys a low unemployment rate of 5.8% and projected job growth rates of nearly 1% in 2011 and 3% in 2012.

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