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This is the for the 25 Largest Metro GDPs, interestingly this is the same 25 from 2010 only many of them have changed positions in the ranking.
Austin moved from 34 to 26 during that period, and almost halved its gap to #25 Pittsburgh between '18 and '19. Very likely to see it in the top 25 within the next 2 years.
Interesting that other sunbelt metros besides Nashville (which went from 37 to 31) didn't move much, probably due to fairly low wages.
Location: That star on your map in the middle of the East Coast, DMV
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Originally Posted by TheseGoTo11
Big thank you to 18Montclair for compiling.
Figured the Bay Area would do well, but not like this. Adding more GDP by dollars than LA with half the population!
Not shown here, but Boston also surpassed DC for average wages. DC's addiction to government contracts served it very poorly this decade. As someone who moved out of that region in the 2010s, strongly feel that they need to do something about the relatively low level of innovation there.
You repeat this every thread...DC had a setback 2012-2013 due to sequestration period. It was at this time (when you were leaving) that the area began to change it's business approach. DC performed much better back half of the decade 2016-2020 which is when the economy picked up a lot more of diversification. You also continue to repeat this average wages point without posting numbers or links. Where is this info located?
Pending Covid recovery patterns of course but it’s possible Chicago is going to be in a Chicago/DC/SF tier by like 2025-2027ish. Which will be slightly but distructly ahead of Boston/Philly/Dallas/Houston
You're point about DC's back half of the decade is also inaccurate. DC's avg weekly wage was just $2 under Boston's in Q1/2016. It increased to an $87 deficit by Q1/2020.
DC's problem is not sequestration, but an overdependence on government and government contracting. It had a short blip in the AOL/telecom days where it had a legit commercial economy, but that's long gone. It's not as hopeless as Baltimore, but it trails NY and Boston significantly now for venture capital, and simply has too many people who think they can transfer government initiatives into market products. Trust me, they still hit me up on LinkedIn all the time. These are the same people who are shocked if you leave a company before working there for ten years.
Houston doesnt look as good as some of its peers, but given that half of the time frame between 2010-2019 was an oil downturn, its not awful. Glad to see DFW trailblazing!
What do you mean it doesn't look as good as its peers?
Looks like it has the highest per capita GDP of the big 4, it is #2 out of 4 for GDP overall and 2 out of the 4 in GDP growth.
The first half of the decade was better than the secind half, but if it's higher than Miami and Atlanta in every single category how is that not as good as them?
What do you mean it doesn't look as good as its peers?
Looks like it has the highest per capita GDP of the big 4, it is #2 out of 4 for GDP overall and 2 out of the 4 in GDP growth.
The first half of the decade was better than the secind half, but if it's higher than Miami and Atlanta in every single category how is that not as good as them?
Or are you just looking at the CSAs because Houston CSA adds nothing to the MSA.
Yeah I agree, Houston metro did much, much better than I expected for the decade. The oil bust and the storms didn't have nearly the impact I thought they would. The per capita GDP numbers are holding up well and as you mentioned are the highest of the four large southern metros. Its a testament to the resilience and diversification of the economy here.
You're point about DC's back half of the decade is also inaccurate. DC's avg weekly wage was just $2 under Boston's in Q1/2016. It increased to an $87 deficit by Q1/2020.
DC's problem is not sequestration, but an overdependence on government and government contracting. It had a short blip in the AOL/telecom days where it had a legit commercial economy, but that's long gone. It's not as hopeless as Baltimore, but it trails NY and Boston significantly now for venture capital, and simply has too many people who think they can transfer government initiatives into market products. Trust me, they still hit me up on LinkedIn all the time. These are the same people who are shocked if you leave a company before working there for ten years.
I was talking about picking up steam from an overall YOY GDP growth by MSA, not wages. The overall DC economy picked up steam latter half of the decade. There also have been more non-gov't contract related jobs added over that period compared to 2012-13.
What do you mean it doesn't look as good as its peers?
Looks like it has the highest per capita GDP of the big 4, it is #2 out of 4 for GDP overall and 2 out of the 4 in GDP growth.
The first half of the decade was better than the secind half, but if it's higher than Miami and Atlanta in every single category how is that not as good as them?
It's nuanced of course and likely inflated due to the oil industry. Unless people are under the impression that Qatar's per capita GDP of $91K vs. the U.S. at $63K is a reflection of anything beyond oil production. Of course Houston is much more diversified, but given its principal industry it really should be exceeding its peers.
I was talking about picking up steam from an overall YOY GDP growth by MSA, not wages. The overall DC economy picked up steam latter half of the decade. There also have been more non-gov't contract related jobs added over that period compared to 2012-13.
This is definitely accurate. DC has had consistently strong GDP growth since ~2014 based on this dataset.
Austin moved from 34 to 26 during that period, and almost halved its gap to #25 Pittsburgh between '18 and '19. Very likely to see it in the top 25 within the next 2 years.
Interesting that other sunbelt metros besides Nashville (which went from 37 to 31) didn't move much, probably due to fairly low wages.
Raleigh looks to have moved up in similar fashion (I believe 48th to 41st).
On that note, I’ve now looked at it some more. This decade, Austin MSA grew slightly faster than Raleigh’s (both around 76%), with Nashville looking at 67% growth in GDP. Overall, Nashville’s CSA stands at $142 billion, the Triangle at $149 billion, and Austin’s MSA (which covers roughly the same footprint as the other’s CSA) is at $159 billion. Those three will likely be tied together for the next decade, with Austin looking to continue leading the pack. Wake/Durham contributed roughly 75% ($111 billion) to the Triangle’s gdp.
Last edited by Heel82; 12-09-2020 at 11:10 PM..
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