(COLORADO SPRINGS) — Olympic City USA has been named one of the "Best Performing Cities" in the U.S. by the Milken Institute. On Tuesday, Jan. 14, the Milken Institute released its annual "Best Performing Cities" report and ranked Colorado Springs in 5th for its Tier 1 Large Cities division, the highest Colorado Springs has ever placed in the Milken report. “The Milken Institute’s Best Performing Cities ranking confirms what we’ve known for a long time – that Colorado Springs has a high-performing, well-rounded, diverse, and resilient economy,” said Mayor Yemi Mobolade. “Selected as the top 5 economy across all large cities in our country, we are consistently adding new jobs and are laser-focused on continuing to bring new opportunity to our thriving and vibrant city.” According to the City of Colorado Springs, the report points to Olympic City's performance across all categories of the Milken report, including a solid labor market, strong high-tech, and access to economic opportunities. The report states that recent improvements in the labor market have fueled Colorado Springs into a 'Tier 1.' “The Milken Institute’s recognition of Colorado Springs as the No. 5 Best-Performing City in the U.S. reflects the remarkable growth and innovation happening in our region,” said Dani Bolling, Senior Vice President of Marketing, Communications, and Sales for Colorado Springs Chamber & EDC. “Our region’s strong job and wage growth, thriving technology sector, and highly skilled workforce make it a prime destination for businesses looking to expand and innovate, as well as for professionals seeking a dynamic place to grow and thrive.”