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Milken’s Best-Performing Cities in 2015

San Jose named best performing US city

The economy is showing signs of strength this year, with the unemployment rate dipping to five percent. But what areas of the country are seeing the strongest growth?

The Milken Institute announced its annual list of the Best-Performing U.S. cities on "Power Lunch". The report identified the latest trends and most relevant factors powering regional growth. They also looked at several metrics including job creation, wage gains, and technology trends.

Aerial View of San Jose, California
Michael Melford | Getty Images

San Jose, California reclaimed the top spot among large metro areas, followed by San Francisco, Provo, Utah, Austin, and Dallas, Texas.

Perhaps the most surprising to make the list was Dallas, given the slowdown in energy prices this year.

In an exclusive interview, Ross DeVol, Chief Research Officer with the Milken Institute said he expected Dallas to continue to be a top 25 performer. "Dallas is not nearly as oil dependent as they used to be. They still have oil services jobs, but they have really diversified with telecom and banking centers," he told CNBC.

DeVol also added the future growth will shift to the south and western portion of the country.

For a link to the full Milken report: Click Here