Milken: Fort Myers falls from best to worst

Ignore popular rankings of so-called “best cities.”

The latest comes from the Milken Institute, which publishes an annual index on the best-performing cities for creating and sustaining jobs and economic growth. Components of the index include wages, salaries and technology growth.

In 2004, the Milken Institute ranked Cape Coral-Fort Myers as best-performing city in the country. But in 2011, the same group ranked Cape Coral-Fort Myers last among 200 cities in the nation.

The lesson: Do your own evaluation of a market before launching or expanding a business. Rankings by organizations such as Milken Institute aren't worth the paper they're printed on.