NEW YORK (June 30) - If you want to get rich, leave
New York City, Washington, D.C. or Los Angeles and head to Plano,
Texas; Aurora, Colo.; or Omaha, Neb., where wages are high
and life is good, a new survey showed.
A poll that ranked 69 U.S. cities with populations of more
than 250,000 people showed the best places to build personal
wealth and raise a family were in cities where some of the
nation's largest companies are headquartered.
The No. 1 city, Plano, is the ninth-largest metropolis in
Texas and home to corporate headquarters including soft drink
company Dr Pepper Snapple Group, PepsiCo's snack foods company
Frito-Lay and movie theater company Cinemark.
"The city has a reputation as one of the best places in the
country for employers to do business and for families to live
and work. Plano has a nationally acclaimed public education
system and well-educated, diverse residents," Salary.com, the pay
and performance Web site that conducted the survey, said.
Aurora, the third-most populous city in Colorado, came in
second, according to the survey which said its economy is
booming and it is a business leader in key growth industries
such as biotechnology, aerospace and high technology.
Nebraska's largest city Omaha, home to famed U.S. investor
Warren Buffett, nabbed third place. Buffett, who is the richest
man in the world according to Forbes magazine, is often called
the "Oracle of Omaha" for his successful investments.
"With diversification in several industries including
banking, insurance, telecommunications,
architecture/construction, and transpiration, Omaha's economy
has grown dramatically since the 1990s," Salary.com explained.
New York City came in last, behind Washington, D.C. and Los
"These cities do have some of the highest average wages in
the country, but when it comes time to stretching your dollar
and accumulating a nest egg for the future, it is difficult to
do in these cities," Salary.com said.
The survey measured the relative value of earnings, cost of
living and unemployment rates, along with diversity of
industry, education level of the cities' population, proximity
to post secondary institutions, percent of population below
poverty level and median travel time to work.
Reporting by Michelle Nichols; editing by Patricia Reaney