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Old 09-24-2015, 08:56 AM
 
Location: Virginia Beach
4,167 posts, read 2,790,516 times
Reputation: 4455

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What is going on in Hampton Roads? There are no in-your-face "uglies" about the region as to why people and jobs aren't moving there, and yet, not only is it perennially one of the slowest growing metros in population (has been passed up by Nashville and Austin, among others, in the last decade), but in 2014, among all metros with a $50-plus economy, Hampton Roads had the second lowest economic growth, at only 1.93%. Only New Orleans (0.91%) had a lower growth for areas above $50 billion GDP...

What does Hampton Roads have to do to become competitive?
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Old 09-24-2015, 10:44 AM
 
11,160 posts, read 22,309,304 times
Reputation: 10894
Growth rates for US metros

San Jose:
2010: 9.3%
2011: 7.9%
2012: 4.0%
2013: 7.6%
2014: 8.1%
5 Year: 43%

Dallas:
2010: 5.6%
2011: 7.2%
2012: 6.7%
2013: 7.2%
2014: 9.3%
5 Year: 42%

Houston:
2010: 7.0%
2011: 10.5%
2012: 7.5%
2013: 8.4%
2014: 1.9%
5 Year: 40%

Detroit:
2010: 6.5%
2011: 4.5%
2012: 4.8%
2013: 4.6%
2014: 4.4%
5 Year: 27%

Des Moines:
2010: 2.8%
2011: 5.2%
2012: 8.9%
2013: 3.3%
2014: 4.6%
5 Year: 27%

San Fran:
2010: 2.1%
2011: 3.3%
2012: 8.4%
2013: 3.5%
2014: 6.5%
5 Year: 26%

Denver:
2010: 3.3%
2011: 3.2%
2012: 5.0%
2013: 4.8%
2014: 6.3%
5 Year: 25%

Omaha:
2010: 3.4%
2011: 4.2%
2012: 5.4%
2013: 5.1%
2014: 4.5%
5 Year: 25%

Seattle:
2010: 3.8%
2011: 3.6%
2012: 5.8%
2013: 4.8%
2014: 5.2%
5 Year: 25%

Madison:
2010: 4.5%
2011: 4.8%
2012: 3.8%
2013: 6.4%
2014: 1.8%
5 Year: 23%

Pittsburgh:
2010: 5.4%
2011: 4.3%
2012: 2.5%
2013: 4.0%
2014: 4.6%
5 Year: 23%

Minneapolis:
2010: 4.1%
2011: 5.0%
2012: 3.3%
2013: 4.6%
2014: 3.5%
5 Year: 22%

New York:
2010: 4.5%
2011: 2.5%
2012: 5.8%
2013: 3.0%
2014: 4.6%
5 Year: 22%

Boston:
2010: 5.1%
2011: 3.6%
2012: 4.4%
2013: 2.8%
2014: 4.4%
5 Year: 22%

Miami:
2010: 1.2%
2011: 1.6%
2012: 6.3%
2013: 4.8%
2014: 5.3%
5 Year: 21%

Phoenix:
2010: 2.2%
2011: 3.8%
2012: 5.2%
2013: 3.0%
2014: 3.9%
5 Year: 19%

Atlanta:
2010: 1.8%
2011: 2.9%
2012: 3.5%
2013: 4.4%
2014: 5.2%
5 Year: 19%

Cleveland:
2010: 3.8%
2011: 4.6%
2012: 3.5%
2013: 2.5%
2014: 3.3%
5 Year: 19%

Chicago:
2010: 2.7%
2011: 3.2%
2012: 5.1%
2013: 1.7%
2014: 3.6%
5 Year: 18%

San Diego:
2010: 0.6%
2011: 4.0%
2012: 5.5%
2013: 3.6%
2014: 3.5%
5 Year: 18%

Indianapolis:
2010: 3.7%
2011: 1.8%
2012: 3.5%
2013: 5.1%
2014: 2.4%
5 Year: 18%

Kansas City:
2010: 2.9%
2011: 1.9%
2012: 4.6%
2013: 2.6%
2014: 4.3%
5 Year: 17%

New Orleans:
2010: 12.6%
2011: 1.7%
2012: 2.8%
2013: -2.3%
2014: 0.9%
5 Year: 16%

Los Angeles:
2010: 1.5%
2011: 1.8%
2012: 3.5%
2013: 3.5%
2014: 4.0%
5 Year: 15%

Philadelphia:
2010: 2.4%
2011: 4.3%
2012: 3.4%
2013: 3.3%
2014: 2.9%
5 Year: 15%

St Louis:
2010: 1.5%
2011: 2.2%
2012: 3.6%
2013: 2.1%
2014: 3.4%
5 Year: 14%

Washington DC:
2010: 4.6%
2011: 2.8%
2012: 1.8%
2013: 2.0%
2014: 2.2%
5 Year: 14%

Hampton Road:
2010: 1.2%
2011: 1.9%
2012: 3.1%
2013: 2.1%
2014: 1.9%
5 Year: 11%

Las Vegas:
2010: -1.5%
2011: 0.9%
2012: 2.0%
2013: 3.7%
2014: 4.9%
5 Year: 10%

My hometown

Iowa City:
2010: 4.2%
2011: 5.3%
2012: 5.1%
2013: 3.6%
2014: 3.5%
5 Year: 24%

Last edited by Chicago60614; 09-24-2015 at 10:58 AM..
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Old 09-24-2015, 10:51 AM
 
Location: Tokyo, Japan
6,620 posts, read 8,280,013 times
Reputation: 7566
Quote:
Originally Posted by Chicago60614 View Post
Growth rates for US metros

Dallas:
2010: 5.6%
2011: 7.2%
2012: 6.7%
2013: 7.2%
2014: 9.3%
5 Year: 42%
That's faster than China and India.
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Old 09-24-2015, 10:55 AM
 
Location: Minneapolis
2,331 posts, read 3,042,585 times
Reputation: 3918
Quote:
Originally Posted by Chicago60614 View Post
Detroit has all the "bones" and could be primed for growth, it just needs to find the seeds for that growth. The auto market is coming back, I'm sure that's a piece of it.

Detroit:
2010: 6.5% growth
2011: 4.5%
2012: 4.8%
2013: 4.6%
2014: 4.4%

VERY stable and solid growth by the metro, impressive. That's a 27% growth in GDP over 5 years with nearly ZERO population growth. It's just what the metro needed. Get your economy running again, get the unemployment down and don't add any more people during that time. Clean house before inviting more neighbors...

The metro has added over 250,000 jobs in the past five years and reduced unemployment from 17% to 6%.
The thing about Detroit is that it does well when the national economy is growing and then every time a recession begins all the growth is wiped out, this has been the pattern since the '70s. "Detroit is back" was also a late '80s and late '90s narrative. It is unfortunate that much of Detroit's misfortune can be laid at the feet of the management of the big 3, rather than anything the city or metro has done. At least Ford is run well now.
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Old 09-24-2015, 11:01 AM
 
Location: Mexico City, formerly Columbus, Ohio
13,088 posts, read 13,429,740 times
Reputation: 5756
Quote:
Originally Posted by Chicago60614 View Post
Detroit has all the "bones" and could be primed for growth, it just needs to find the seeds for that growth. The auto market is coming back, I'm sure that's a piece of it.

Detroit:
2010: 6.5% growth
2011: 4.5%
2012: 4.8%
2013: 4.6%
2014: 4.4%

VERY stable and solid growth by the metro, impressive. That's a 27% growth in GDP over 5 years with nearly ZERO population growth. It's just what the metro needed. Get your economy running again, get the unemployment down and don't add any more people during that time. Clean house before inviting more neighbors...

The metro has added over 250,000 jobs in the past five years and reduced unemployment from 17% to 6%.
In total GDP, Detroit passed up Minneapolis to become the Midwest's second largest metro economy. That is surprising to me, but I guess Detroit is the larger metro of the two, so perhaps it shouldn't be surprising at all. It's per-capita GDP, however, is one of the lowest of any in the Midwest, and well below MSP, so certainly not all rosy.
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Old 09-24-2015, 11:06 AM
 
3,937 posts, read 3,459,533 times
Reputation: 6276
Quote:
Originally Posted by Chicago60614 View Post
Growth rates for US metros

San Jose:
2010: 9.3%
2011: 7.9%
2012: 4.0%
2013: 7.6%
2014: 8.1%
5 Year: 43%

Dallas:
2010: 5.6%
2011: 7.2%
2012: 6.7%
2013: 7.2%
2014: 9.3%
5 Year: 42%

Cliché homer here but I think this is awesome, can you do it for Grand Rapids too?
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Old 09-24-2015, 11:11 AM
 
3,937 posts, read 3,459,533 times
Reputation: 6276
Quote:
Originally Posted by Drewcifer View Post
The thing about Detroit is that it does well when the national economy is growing and then every time a recession begins all the growth is wiped out, this has been the pattern since the '70s. "Detroit is back" was also a late '80s and late '90s narrative. It is unfortunate that much of Detroit's misfortune can be laid at the feet of the management of the big 3, rather than anything the city or metro has done. At least Ford is run well now.

This is true, however Detroit's situation is a bit different after the bailout. The legacy costs are under control at the auto makers, and the suppliers have a monster presence. However the biggest single factor in Metro Detroit's economic growth over population growth is the shift in its economy. It was of course always the home of the big 3, but it was also the hub of the manufacturing. Manufacturing started trickling out in the 70's. The growth in Detroit now is very heavily weighted in the STEM sectors, and not manufacturing. It means that Detroit is solidified itself as the automotive brain trust in a more stable sector, with those desirable "bachelors degree or higher" positions.
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Old 09-24-2015, 11:12 AM
 
6,816 posts, read 6,924,159 times
Reputation: 5485
You can see it in the growth rates that Atlanta is ramping up. It has the same % growth rates as cities like Seattle now and closing it on SF and Denver. I honestly don't see Seattle passing Atlanta in GDP if Atlanta's GDP growth rates continue to increase especially since job growth this year remains very strong.

Dallas and San Jose are monsters. Even when I was in Dallas this summer, you can feel and see the boom...suburbs going up everywhere....everything felt new like it was built very recently. I think it will remain strong. Dallas is kind of where Atlanta wants to be moving forward.

Yikes at Houston. That GDP growth is near the level of Atlanta in the middle of the recession. Job losses almost certainly means we might be seeing a GDP decrease. I can't imagine what the 2015 GDP growth rate will be. I think Houston is in recession.
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Old 09-24-2015, 11:14 AM
 
Location: LoS ScAnDaLoUs KiLLa CaLI
1,227 posts, read 1,190,459 times
Reputation: 1179
Quote:
Originally Posted by murksiderock View Post
What is going on in Hampton Roads? There are no in-your-face "uglies" about the region as to why people and jobs aren't moving there, and yet, not only is it perennially one of the slowest growing metros in population (has been passed up by Nashville and Austin, among others, in the last decade), but in 2014, among all metros with a $50-plus economy, Hampton Roads had the second lowest economic growth, at only 1.93%. Only New Orleans (0.91%) had a lower growth for areas above $50 billion GDP...

What does Hampton Roads have to do to become competitive?
Correct me if I'm wrong, but isn't a lot of the economy around Hampton Roads dependent on the military? I think the military downsizing might be a huge part in the growth of the area slowing.
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Old 09-24-2015, 11:33 AM
 
Location: Mexico City, formerly Columbus, Ohio
13,088 posts, read 13,429,740 times
Reputation: 5756
Based on the Midwest's largest 15 metros.

Top 10 in the Midwest, 2010 in Millions

1. Chicago: $534,667
2. Minneapolis: $200,768
3. Detroit: $197,789
4. St. Louis: $134,290
5. Indianapolis: $110,943
6. Cleveland: $109,190
7. Kansas City: $107,411
8. Cincinnati: $104,120
9. Columbus: $96,482
10. Milwaukee: $86,779

Top 10 in the Midwest, 2014

1. Chicago: $610,552
2. Detroit: $236,500
3. Minneapolis: $235,733
4. St. Louis: $149,951
5. Indianapolis: $125,864
6. Cleveland: $124,609
7. Kansas City: $121,638
8. Cincinnati: $121, 407
9. Columbus: $117,824
10. Milwaukee: $97,307

Top 10 for 2010-2014 Total Change, in Millions

1. Chicago: +$75,885
2. Detroit: +$38,711
3. Minneapolis: +$34,965
4. Columbus: +$21,342
5. Cincinnati: +$17,287
6. St. Louis: +$15,661
7. Cleveland: +$15,419
8. Indianapolis: +$14,921
9. Kansas City: +$14,227
10. Grand Rapids: +$10,828

Top 10 Midwest by % Change, 2010-2014

1. Grand Rapids: +26.35%
2. Columbus: +22.12%
3. Toledo: +21.46%
4. Omaha: +20.66%
5. Detroit: +19.57%
6. Minneapolis: +17.42%
7. Cincinnati: +16.60%
8. Chicago: +14.19%
9. Cleveland: +14.12%
10. Indianapolis: +13.45%
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