Rochester, Minn. was named as one of the ten best cities for the next decade by Kiplinger's Personal Finance magazine.

Rochester, home of the Mayo Clinic, placed sixth on the list. The magazine said the city "is growing like a beanstalk" with its high-tech, healthcare and hospitality industries, with more than 20 tech-related companies opening there in the last ten years.

The top three cities on the list were Austin, Seattle and Washington D.C. The U.S. cities were picked based on growth and growth potential, Kiplinger's said.

"New ideas generate new businesses," said Kevin Stolarick, research director at Ontario, Canada-based think tank Martin Prosperity Institute. Stolarick helped pick the listed cities.

"In the places where innovation works, it really works. People in fields such as science, engineering, architecture, and education are catalysts of vitality and livability in a city," Stolarick said.