BARDSTOWN, Ky. — Bardstown continues to receive accolades, the latest coming from a national foundation that analyzes economic performance across the U.S.
The Walton Family Foundation just released its list of the Most Dynamic Micropolitans in the United States and Bardstown ranked no. 31 out of 531 micros across the country. Bardstown was the only micro in Kentucky to rank in the Top 100 with Mt. Sterling next in Kentucky at no. 162.
“The research concludes that small-town America has big-time potential for economic growth, which will help boost the nation’s economy and has the potential to bridge the economic gaps between the United States’ micropolitan and metropolitan areas,” said Ross DeVol, the lead researcher and a Walton Fellow at the Walton Family Foundation.
Micropolitan areas comprise of localities with a population between 10,000 and 50,000 in population. Each micropolitan area is ranked and reviewed on performance-based metrics, such as job growth, income gains, and proportion of total jobs at young firms. This is the first time that such research has been undertaken in both scale and scope. The study is an attempt to bridge a gap in identifying which communities are thriving and which are struggling to provide economic opportunities for their residents.
“This recognition of Bardstown as one of the Most Dynamic Micropolitans in the United States is the result of our focus and results in the very diverse commercial, industrial and hospitality sectors of our local economy,” says City of Bardstown Mayor Dick Heaton. “It signifies the positive collaborative efforts that have been working within our public and private initiatives here in Bardstown and Nelson County Kentucky.”
Kim Huston, president of the Nelson County Economic Development Agency, said, “This report is important as it allows us as a community and county to monitor our growth against our peers across the state and country. It will also be used as a tool to reiterate our economic vitality to potential business and residents looking to locate here.”
The Walton Family Foundation is a family-led foundation comprised of the children and grandchildren of Wal-Mart founders Sam and Helen Walton that understands the importance of small towns and their economic performance.