https://www.americancityandcounty.com/wp-content/themes/acc_child/assets/images/logo/footer-logo.png
  • Home
  • Co-op Solutions
  • Hybrid Work
  • Commentaries
  • News
  • In-Depth
  • Multimedia
    • Back
    • Podcast
  • Resources & Events
    • Back
    • Resources
    • Webinars
    • White Papers
    • IWCE 2022
    • How to Contribute
    • Municipal Cost Index – Archive
    • Equipment Watch Page
    • American City & County Awards
  • About Us
    • Back
    • About Us
    • Contact Us
    • Advertise
    • Privacy Statement
    • Terms of Service
American City and County
  • NEWSLETTER
  • Home
  • Co-op Solutions
  • Hybrid Work
  • Commentaries
  • News
  • In-Depth
  • Multimedia
    • Back
    • Podcasts
  • Resources/Events
    • Back
    • Webinars
    • White Papers/eBooks
    • IWCE 2022
    • How to Contribute
    • American City & County Awards
    • Municipal Cost Index
    • Equipment Watch Page
  • About Us
    • Back
    • About Us
    • Contact Us
    • Advertise
    • Cookie Policy
    • Privacy Stament
    • Terms of Service
  • newsletter
  • Administration
  • Economy & Finance
  • Procurement
  • Public Safety
  • Public Works & Utilities
  • Smart Cities & Technology
  • Magazine
acc.com

Administration


Article

Who wants to be a millionaire?

Who wants to be a millionaire?

If you do, it might be best to move to Los Alamos, N.M.
  • Written by Derek Prall
  • 26th January 2015

Want to be a millionaire? Improve your odds by moving to Los Alamos, N.M.
 
According to a report released last week by research firm Phoenix Marketing International, more than 10 percent of households in the New Mexico science and research hub have more than $1 million in investable assets.
 
But for all the wealth, Los Alamos is far from opulent. “We have a Starbucks,” Los Alamos Commerce and Development Corp. Executive Director Patrick Sullivan joked with The Wall Street Journal when asked to name some of the city’s amenities. “Unless you knew [about the wealth], it would never enter your mind.”
 
Among states, Maryland has the highest number of total millionaires, 170,248, as compared to 2,220,791 total households – or about 8 percent, Phoenix Marketing found. This is the fourth straight year Maryland has ranked the highest.
 
Maryland was followed by Connecticut, with 99,965 millionaires compared to 1,382,026 households (about 7 percent) and New Jersey, with 232,514 millionaires compared to 3,258,464 households (also about 7 percent).
 
These states have the “kinds of industries that are at the core of building wealth,” David Thompson, managing director of the Phoenix Global Wealth Monitor, told The Wall Street Journal. “Those are highly diversified economies based around industries such as information technology, aerospace and medicine.”

Oil, too, breeds millionaires. North Dakota now ranks 20th in millionaires as compared to last year, when it ranked 29th.

“The amazing rise of North Dakota in the millionaires rankings clearly demonstrates the power of an industry to quickly create wealth,” Thompson said in a statement, but added it will be challenging for the state to maintain its rise in the rankings once the oil boom subsides.
 
For the country overall, 5.2 percent of households have more than $1 million, Phoenix found. The much-discussed “1 percenters” would have more than $5 million in assets, Thompson told The Wall Street Journal.

_____________

To get connected and stay up-to-date with similar content from American City & County:
Like us on Facebook

Follow us on Twitter
Watch us on Youtube

 

Tags: Administration News Article

Most Recent


  • MSPs
    The MSP downstream cyberthreat paradox: Understanding the city and county connection
    Recently the Cybersecurity and Infrastructure Security Agency (CISA) along with the FBI, NSA, and international cyber authorities issued a cybersecurity advisory aimed at protecting managed service providers (MSPs) and their customers. This high-level advisory has been gestating for some time ever since the SolarWinds and Kaseya supply chain cyber-attacks. A software supply chain attack occurs […]
  • Philanthropic group to launch assistance portal for local admins navigating federal bureaucracy
    A joint venture announced Tuesday by a group of philanthropic organizations—in collaboration with the U.S. Conference of Mayors, the National League of Cities (NLC) and Results for America—seeks to help small and mid-sized communities secure their piece of the $550 billion in funding available for local governments navigating federal bureaucracy. The digital portal will launch […]
  • Report: Nearly 95 percent of America's mayors face harassment, threats and violence
    In today’s divided socioeconomic landscape—one that’s rife with political angst—harassment of mayors has become commonplace, especially against minority leaders. Women mayors and mayors of color face more frequent and acute incidents of harassment and violence, according to new research from the advocacy organizations Equity Agenda and the Mayors Innovation Project. Nearly half of all women mayors […]
  • Report: Almost half of public sector retirees don't touch their retirement plans for a decade
    Once retired, nearly half of public sector employees aren’t taking any action with their defined contribution retirement plan funds for at least a decade, according to research from Mission Square Research Institute, which included the analysis of more than 100,000 public service data records. In their first ten years of retirement, researchers found that 48 […]

Leave a comment Cancel reply

-or-

Log in with your American City and County account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • Lessons from your friendly neighborhood public service employees
  • Harris County deploys next-generation security in 150 public buildings
  • How local governments can get ahead of the infrastructure wave: Strategies to mitigate risk
  • Prioritizing rapid restore leads to stronger ransomware attack recovery

White papers


The PIO’s Ultimate Guide to Social Media

16th May 2022

Gain Greater Visibility Into Your Public Works Fleet

16th May 2022

Arizona Arts Center Meets Rapid Deadline with Hundreds of Thousands in Savings

26th April 2022
view all

Events


PODCAST


Young Leaders Episode 4 – Cyril Jefferson – City Councilman, High Point, North Carolina

13th October 2020

Young Leaders Episode 3 – Shannon Hardin – City Council President, Columbus, Ohio

27th July 2020

Young Leaders Episode 2 – Christian Williams – Development Services Planner, Goodyear, Ariz.

1st July 2020
view all

Twitter


AmerCityCounty

The MSP downstream cyberthreat paradox: Understanding the city and county connection dlvr.it/SQYVjs

17th May 2022
AmerCityCounty

Philanthropic group to launch assistance portal for local admins navigating federal bureaucracy dlvr.it/SQY16G

17th May 2022
AmerCityCounty

Report: Nearly 95 percent of America’s mayors face harassment, threats and violence dlvr.it/SQTn2z

16th May 2022
AmerCityCounty

The PIO’s Ultimate Guide to Social Media dlvr.it/SQTdCK

16th May 2022
AmerCityCounty

Gain Greater Visibility Into Your Public Works Fleet dlvr.it/SQSqXG

16th May 2022
AmerCityCounty

Report: Almost half of public sector retirees don’t touch their retirement plans for a decade dlvr.it/SQKMjp

13th May 2022
AmerCityCounty

Four steps to ensure your budget prioritizes equity dlvr.it/SQJgZz

13th May 2022
AmerCityCounty

Victims of Surfside condo collapse settle for nearly $1B in class action lawsuit dlvr.it/SQJffb

13th May 2022

Newsletters

Sign up for American City & County’s newsletters to receive regular news and information updates about local governments.

Resale Insights Dashboard

The Resale Insights Dashboard provides model-level data for the entire used equipment market to help you save time and money.

Municipal Cost Index

Updated monthly since 1978, our exclusive Municipal Cost Index shows the effects of inflation on the cost of providing municipal services

Media Kit and Advertising

Want to reach our digital audience? Learn more here.

DISCOVER MORE FROM INFORMA TECH

  • IWCE’s Urgent Communications
  • IWCE Expo

WORKING WITH US

  • About Us
  • Contact Us

FOLLOW American City and County ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookies Policy
  • Terms
Copyright © 2022 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X