The Rogue Valley has been fertile ground for business in recent years, and a new study suggests that the soil remains rich.

The Medford area, which includes all of Jackson County, ranks eighth among U.S. metropolitan areas in a new index of business climate released this month.

The Business Opportunity Index compares American cities by looking at a dozen economic indicators. It was compiled by two professors from the University of Texas at El Paso, Charles Zlatkovich and Karl Putnam.

Boise, Idaho, led the rankings with a score of 669. Vineland, N.J., had the worst score at 3,245. Medford's score was 907, making it one of only a dozen areas -- and the only one in Oregon -- to come in under 1,000.

The index also ranked cities based on 1995 data. In that list, Medford ranked 12th.

The index is designed to measure business growth potential, especially for typical, consumer-oriented business.

"Anything in the top 30 is a pretty stand-up performance," says Zlatkovich, who has spent 30 years analyzing local and regional economic conditions. "These are places that I would expect to do well in the next few years."

The Rogue Valley has certainly seen strong growth in consumer-driven industries such as retail and services in recent years.

For an example, one need look no further than the Crater Lake Plaza off Highway 62. In less than a decade, it's grown from an empty field to a massive retail center, thanks to big-box firms such as Costco Wholesale, Eagle Hardware and Wal-Mart.

"It's just amazing," says Mike Burrill of Burrill Real Estate, the center's lead developer. "It's beyond what we expected."

Asked what he thinks has spurred the area's overall success, Burrill says the cooperation between private industry and public agencies has been a big factor.

"There is a pro-business climate that has developed here over the last 10 years and especially the last five years," he says. "It's really unique, the way we all work together. Not everybody is playing, but a lot of people are and that's what makes it work."

"There is a pro-business climate," agrees Gordon Safley, executive director of Southern Oregon Regional Economic Development Inc. -- the most visible public-private partnership. "That's not to say that's growth at any cost, but controlled growth."

Bill Haas, executive director of the Chamber of Medford/Jackson County, says several factors have spurred the growth, including the area's location on the Interstate 5 corridor.

"We are positioned between major metros that are thriving," he says.

Medford's continued emergence as a shopping hub for surrounding counties has been key, Haas says.

Guy Tauer, a job market analyst with the Oregon Employment Department, notes the index doesn't consider key elements such as transportation and proximity to other large metro areas.

In fact, some factors cited by local business leaders aren't in the index at all. The index is a statistical abstract that doesn't consider intangibles such as public-private cooperation and geography.

Zlatkovich acknowledges that it's impossible to evaluate a business climate with numbers alone. But he hopes the index -- which he plans to produce annually -- will be a tool to gauge business conditions.