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After checking out the metro GDP of some major American cities I have to admit I was a little shocked at how highly ranked Indianapolis Indiana is.
The Indianapolis Metro GDP is higher than several other cities which are larger than it or roughly the same size.
Indianapolis has a higher GDP than:
Cleveland Ohio
Columbus Ohio
Cincinnati Ohio
Kansas City Missouri/Kansas
Tampa Florida
Las Vegas Nevada
Austin Texas
Orlando Florida
How is Indianapolis beating all of these cities? Especially places like Orlando, Tampa, Austin, and Las Vegas? Indianapolis Metro is SMALLER than all of those cities with the exception of Austin, Austin is pretty much the exact same size right now, albeit growing more quickly.
A bigger surprise to me is Houston above D.C. and Philly above Boston.
The only one that really could surprise anyone is D.C. Houston's economy is centered around energy which would explain why SF and Houston are increases at rates in which their peer cities envy.
Houston's growth in physically and economically has been extremely impressive the past few years.
As I said before, I am pretty sure they count the oil from the Gulf as part of Houston area GDP. Similar to how Alberta with their oil sands has the same GDP as Quebec, which is almost twice more populous.
As long as the money for that oil exchanges with Houston based hands they will.
Yes, but you have to take GDP stats of natural resource producing regions with a grain of salt. The people there aren't more productive/may not even see that money, since they are just digging stuff from the ground that happens to be on their towns' administrative territory. Another good example is Equatorial Guinea, that has GDP per capita similar to countries like South Korea. Oil workers can get paid relatively well, but they are pumping much more in $ value. Each oil worker, on average, pumps billions of $ worth of oil a year, they sure as hell do not see that money, but it counts towards GDP. A refinery worker in Houston can "produce" more GDP than Bill Gates or Warren Buffet.
Yes, but you have to take GDP stats of natural resource producing regions with a grain of salt. The people there aren't more productive/may not even see that money, since they are just digging stuff from the ground that happens to be on their towns' administrative territory. Another good example is Equatorial Guinea, that has GDP per capita similar to countries like South Korea. Oil workers can get paid relatively well, but they are pumping much more in $ value. Each oil worker, on average, pumps billions of $ worth of oil a year, they sure as hell do not see that money, but it counts towards GDP. A refinery worker in Houston can "produce" more GDP than Bill Gates or Warren Buffet.
I have a feeling the situation in the Houston MSP is not THAT comparable to Equatorial Guinea, and all of Alberta.
Yes, but you have to take GDP stats of natural resource producing regions with a grain of salt. The people there aren't more productive/may not even see that money, since they are just digging stuff from the ground that happens to be on their towns' administrative territory. Another good example is Equatorial Guinea, that has GDP per capita similar to countries like South Korea. Oil workers can get paid relatively well, but they are pumping much more in $ value. Each oil worker, on average, pumps billions of $ worth of oil a year, they sure as hell do not see that money, but it counts towards GDP. A refinery worker in Houston can "produce" more GDP than Bill Gates or Warren Buffet.
Washington DC: $88,505 (thank you runaway government spending)
Boston: $70,699
Philadelphia: $59,631
Houston: $55,806
It should definitely be noted that GDP, while a solid measurement, does not tell the whole story of economic power & influence. It doesn't measure things such as assets under management, medical research, or other factors.
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