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Well said. However, Charlotte's GDP is growing this year. Nashville's is shrinking as of this year.
Also, Charlotte's CSA is nearly 50% larger than Nashville's (2.4 million vs 1.7 million).
Charlotte's GDP is nearly 50% larger than Nashville's ($118.4 billion vs. $78.9 billion).
Like you said, Charlotte acts like a 2 million plus metro where as Nashville acts like a 1 million plus metro. Charlotte is statistically much larger than Nashville in every category except UA. This fact has got to be considered or this thread will go nowhere.
Well said. However, Charlotte's GDP is growing this year. Nashville's is shrinking as of this year.
Also, Charlotte's CSA is nearly 50% larger than Nashville's (2.4 million vs 1.7 million).
Charlotte's GDP is nearly 50% larger than Nashville's ($118.4 billion vs. $78.9 billion).
Like you said, Charlotte acts like a 2 million plus metro where as Nashville acts like a 1 million plus metro. Charlotte is statistically much larger than Nashville in every category except UA. This fact has got to be considered or this thread will go nowhere.
Charlotte also needs to explain its much higher unemployment rate for the MSA.
The fact that Charlotte has a higher unemployment rate but the GDP is still growing says alot. What else needs to be explained? Other than Charlotte may not be as heavily dependent on banking like some have stated.
I have noticed that some arestating the growth of Nashville, it's a popular city and all, however I have yet to see anyone address the $118 billion GDP of Charlotte to Nashville's $79 billion? In order to accurately make the argument that Charlotte and Nashville are on the same level this issue needs to be addressed and I have yet to see addressed. What I have seen is other facts brought up, like the unemployment rate, population growth, etc. It sounds like other items are being brought up so that this question won't have to be answered.
To address the unemployment rate in the Charlotte metro one has to ask why is the unemployment rate so high. If you point out the faltering banking sector that isn't telling the whole story. While their have been layoffs, Wachovia and Bank of America have laid off more people in their other regions more than Charlotte. Many people forget that Charlotte is a very much blue collar town. It was built on distribution (truck drivers) and textiles. With the exception of distribution, these jobs are now being outsourced or being replaced with the new technology. Plus with the state losing its tobacco roots the huge Phillip Morris plant in Concord closed. Not to mention many are still flocking to Charlotte to live here and have yet to find a job. These paint a better description of the Charlotte unemployment rate. I would also like to add that Charlotte is known as an entrprenuerial city.
Lastly, I do want to say Nashville rocks and is a hot city. It has many amenities that Charlotte doesn't have. I love it's music industry and as personal manager for a music group we do occasionally go to Nashville. But the economy of Nashville is smaller, hence Nashville is not on the same level as Charlotte but it is still truly a Southern gem.
quote: "Economic activity in the Nashville area has been growing since 2005 but that rate of growth has slowed, according to the U.S. Bureau of Economic Analysis. The agency ranked the Nashville metropolitan statistical area (MSA) No. 38 in gross domestic product for 2008, producing $78.94 billion in gross domestic product (GDP) last year, out of 366 total MSAs. Memphis came in at No. 43, Knoxville was 71, Louisville came in at 48, and Birmingham was 49. The $79 billion the area produced last year is up from $76.3 billlion in 2007, $72.9 billion in 2006 and $67.9 billion in 2005"
Now, here is a link to an interactive Gross Metro Product map. It shows the economic growth rate for the Nation's largest 100 metros (from 1st quarter 2009 to 2nd quarter 2009). Charlotte ranked 16th while Nashville ranked 62nd. Charlotte's GDP grew by 0.1%. Nashville's GDP saw a loss of 0.4%. Brookings - Quality. Independence. Impact.
Notice that Nashville's Business Journal made no mention of this recent loss in the metro's GDP. This is why it is NOT wise to get your info from your biased local media. I get most of my info from third party sources as much as possible.
Another interesting bias was how the Nashville Business Journal compared Nashville to all regional metros with smaller GDPs (and not one that is larger). Clearly, even Nashville's own Business Journal knew better than to compare Nashville and Charlotte. However, I will compare the two being that there is a city-data thread on the topic.
GDP National Rank
Charlotte No. 21
Nashville No. 38
Memphis No. 43
Louisville No. 48
Birmingham No. 49
Knoxville No. 71
Being that Charlotte's GDP is growing (and Nashville's is shrinking), I seriously doubt that Nashville will be catching up to Charlotte any time soon.
Quote:
Originally Posted by adavi215
Lastly, I do want to say Nashville rocks and is a hot city. It has many amenities that Charlotte doesn't have. I love it's music industry and as personal manager for a music group we do occasionally go to Nashville. But the economy of Nashville is smaller, hence Nashville is not on the same level as Charlotte but it is still truly a Southern gem.
Amen!!! Nashville is certainly one of my favorites in the South!!! However, Charlotte and Nashville are not really in the same size category (with the exception of urbanized area/UA). This fact is neither a good thing nor bad thing. It is however the answer to why Nashville has such a smaller GDP than Charlotte. It is not like Nashville is doing bad "for its size" because Charlotte's GDP is so much larger. The fact is Nashville is doing exactly what it should be doing "for its size".
Within a 40 mile radius of Uptown Charlotte, there is nearly 2.4 million people. Within a 40 mile radius of Downtown Nashville, there is nearly 1.6 million people. It would not be fair to Nashville to expect it to have a GDP comparable to Charlotte. It would almost be like Charlotte expecting to have a GDP comparable to Atlanta. Atlanta HAS MORE PEOPLE!!! Period. The same goes for Nashville vs Charlotte. Charlotte HAS MORE PEOPLE. Period.
FWIW, here is a list of America's top 25 GDPs posted originally by another poster.
Originally Posted by urbanactivistTX
2008 1) New York-Northern New Jersey-Long Island, NY $1,264,896 2) Los Angeles-Long Beach Santa Ana, CA $717,884 3) Chicago-Naperville-Joliet, IL-IN-WI $520,672 4) Houston-Sugar Land-Baytown, TX $403,202 5) Washington-Arlington-Alexandria, DC-VA-MD-WV $395,747 6) Dallas-Fort Worth-Arlington, TX $379,863 7) Philadelphia-Camden-Wilmington, PA-NJ-DE-MD $331,897 8) San Francisco-Oakland-Fremont, CA $310,825 9) Boston-Cambridge-Quincy, MA-NH $299,590 10) Atlanta-Sandy Springs-Marietta, GA $269,799 11) Miami-Fort Lauderdale-Pompano Beach, FL $261,263 12) Seattle-Tacoma-Bellevue, WA $218,771 13) Detroit-Warren-Livonia, MI $200,856 14) Minneapolis-St. Paul-Bloomington, MN-WI $193,947 15) Phoenix-Mesa-Scottsdale, AZ $187,431 16) San Diego-Carlsbad-San Marcos, CA $169,325 17) Denver-Aurora-Broomfield, CO $150,810 18) San Jose-Sunnyvale-Santa Clara, CA $146,687 19) Baltimore-Towson, MD $133,012 20) St. Louis, MO-IL $128,467 21) Charlotte-Gastonia-Concord, NC-SC $118,350 22) Pittsburgh, PA $114,707 23) Riverside-San Bernadino-Ontario, CA $113,080 24) Portland-Vancouver-Beaverton, OR-WA $112,420 25) Tampa-St. Petersburg-Clearwater, FL $110,510
This is why Charlotte's CSA of 2.4 million people is more accurate than the MSA of only 1.7 million people. Charlotte is every bit a 2 million-plus metro and the economic activity is proof of this. Charlotte's CSA is nearly identical to Pittsburgh's CSA BTW. Ironically, the GDPs of both cities are nearly identical.
This website's info is dated by about 3 to 4 years. Charlotte is now slightly over 2.4 million. Nashville is just under 1.7 million. Pittsburgh is shrinking slightly and is now close to 2.4 million even.
Last edited by urbancharlotte; 10-06-2009 at 10:20 AM..
The nbj compared Nashville to the closest Major Metro areas to the north south east and west.
Makes sense. I guess this is where Nashville and Charlotte are so different. Charlotte only has Atlanta and DC to "look up to" regionally. Just about every "closest Major Metro area" to us are not really on Charlotte's level. Heck, Atlanta and DC are soooooo far ahead of Charlotte that we often look outside of the Southeast all-together just to find comparable sized cities to measure Charlotte up against. Nashville is probably the closest in the Southeast (so is Orlando, Tampa, and Norfolk/Virginia beach).
However, Charlotte's economic activity is the third largest among southeastern cities (with only Atlanta and Miami being larger). There are only two top 20 GDPs in the Southeast (Atlanta and Miami). Only one of them (Atlanta) is a top 10 (and it is the #10). Charlotte soon could be the 3rd top 20 southeastern GDP. Tampa is the only other Southeastern city that comes close to being Charlotte's "economic twin". That is kinda why I am having a hard time understanding a thread that is trying to suggest that Nashville is economically about to give Charlotte a "run for its money". I just don't see that happening and there are several sources that back up my thoughts on this topic.
One distinctive thing Nashville is far ahead of Charlotte in is outdoor recreation. Nashville is in the early stages of becoming more like a Denver, which is typically near or at the top of US cities for outdoor recreation. With all the parks, including the Warner parks, and with all the greenways and pedestrian bridges that have been built, and with all the lakes and associated lake recreation, Nashville is building itself into a southern outdoors mecca. In recent years it has added the enormous Shelby Bottoms Park, and of course its riverfront park connects to its greenways which run across the river, through Shelby Bottoms, and back across the river. Centennial Park contains the only full size replica of the Parthenon in Athens, Greece. And the Riverfront Development Plan will add to the outdoor amenities going forward. Nashville is truly unparalleled in the south for its combination of parks, linked greenways, pedestrian bridges, nature trails, river and lake recreation, DC notwithstanding for those who might consider it part of the south. And I really don't see any other southern city poised to catch Nashville in that regard either.
^^^I'd still have to say that live music is Nashville's biggest asset over Charlotte. I don't have a clue as to how one could quantitate outdoor recreation. That topic alone is VERY subjective. I mean, West Virginia could EASILY say that it is the "outdoor capital of America". So could Washington, Oregon, and Wyoming. I understand that these are states (and not cities), but I think you get my point. One could also argue that ANY state without a coastline is automatically disqualified from being an "outdoors mecca".
^^^I'd still have to say that live music is Nashville's biggest asset over Charlotte. I don't have a clue as to how one could quantitate outdoor recreation.
Greenway miles, parks per capita, etc. Just the fact that Nashville is located on a river gives it an edge. But I'd agree with you and say Nashville's music scene is its biggest advantage over Charlotte.
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