Atlanta's economy lags Sunbelt competitors (Dallas, Lake City: 2013, chapel, houses)

[arjay57]

Here's an article from the Business Chronicle that reminds us that we need to keep our foot on the gas. The competition out there is pretty stiff these days.

The Atlanta area's economic growth lags other Sunbelt markets, according to data analysis and projections by the Kenan Institute of Private Enterprise at UNC Chapel Hill.

According to the report, Atlanta ranks 25th among the 50 largest metro areas in the U.S. for gross domestic product growth in 2022 at 1.4%.

The metro areas are ranked based on percentage growth in GDP. San Francisco is No. 1 at 4.8%, followed by Austin (4.3%), Seattle (3.5%), North Carolina's Raleigh-Durham area (3.4%), Dallas (3.1%), Denver (3%), Salt Lake City (2.8%), Charlotte, North Carolina (2.5%), and, rounding out the top 10, New Orleans and Orlando, Florida, each at 2.4%.

Full article....Atlanta's economy lags Sunbelt competitors, Kenan Institute study finds
https://www.bizjournals.com/atlanta/...s-sunbelt.html

[cdw1084]

Originally Posted by arjay57

Here's an article from the Business Chronicle that reminds us that we need to keep our foot on the gas. The competition out there is pretty stiff these days.

The BEA just released the quarterly GSP estimates on September 30th. GA's growth was a little lower than competitors, so I can see this happening.

[primaltech]

Originally Posted by arjay57

Here's an article from the Business Chronicle that reminds us that we need to keep our foot on the gas. The competition out there is pretty stiff these days.

Just remember that when you insist that projects are supposed to be "multi-generational".

[Columbus1984]

Originally Posted by cdw1084

The BEA just released the quarterly GSP estimates on September 30th. GA's growth was a little lower than competitors, so I can see this happening.

Sure doesn’t feel like it. Just this year I’ve had neighbors move in from California, Michigan, Colorado, South Carolina, and Florida. That’s within 10 houses of me.

[arjay57]

Originally Posted by primaltech

Just remember that when you insist that projects are supposed to be "multi-generational".

I'm not saying they have to multi-generational, that's just how we roll here.

Folks in the ATL don't tend to go tearing off and build some gargantuan rail project willy-nilly.

[JMatl]

Originally Posted by arjay57

Here's an article from the Business Chronicle that reminds us that we need to keep our foot on the gas. The competition out there is pretty stiff these days.

Let's see - San Francisco is the Tech capital of the world. Dallas has become a corporate juggernaut powered by geography, low taxes, loose or nonexistent regulations and endless State subsidies. New Orleans is coming from such a low bar, any growth is going to seem outsized. Their corporate economy is pretty much nonexistent. All of the other metros are still in their ascendancy eras, experiencing what we went through in the 80's & 90's. We're experiencing construction here like I've never seen, and it's been going on since before the pandemic. It eclipsed the build-up prior to the Olympics a while ago, and only seems to be increasing.

Other than San Francisco and Dallas, we are the largest and most mature market - by far. I don't think we have anything to worry about.

[cwkimbro]

I'll have to look at this closer later and in future years.

Atlanta has had higher growth than this and did better, compared to some of these peers (including those in North Carolina...).

We had 6%+ annual growth 2013 to 2019 pre-pandemic.

The BEA data that is usually typically looked at for this measure is only released through 2020. The next release comes out in December, which will likely included 2021 data.

I think we are about 15 months away for knowing this in reality and when we do look at it, we need to examine it carefully as some places struggled more than others in the pandemic, but might have a strong short-term recovery and vice versa.

[rickms55]

There's a ton going on. It's more complicated than just "competing."

[585WNY]

“Lags” implies the metro is experiencing economic hardship or a downturn. That couldn’t be further from the truth. Annualized GDP growth of 1.4% is pretty good. If you look at the full rankings, Atlanta is in good company barely below Houston, Tampa and Phoenix.

Honestly explosive growth like Austin has experienced comes with unintended consequences (which Atlanta knows well). Slower, more sustainable growth should be the goal. I’m actually skeptical whether that’s even the case yet in Atlanta. Things on the ground still feel explosive. Regardless, the metro has a bright future. Maybe the days of double digit population increases are over. Atlantans should rejoice. The metro is now firmly established as a top 10 MSA with no signs of slipping. My opinion: some of the fastest growing metros are in danger of crashing and burning if they don’t act.

[Tarzanman]

Originally Posted by e5r6ft78hu

Seattle has surpassed Atlanta in GDP despite having more than 2 million less in its metro area...

They are coastal, sit two hours from Vancouver (which is a juggernaut itself) and have been a tech hub (meaning large salaries for rank and file employees) for almost 2 decades.