Austin Ranks as No. 2 Fastest Growing Economy Across the States
Based on a Headlight Data report, two Texas cities ranked in the top 3 for the fastest growing economies in the United States. Austin sat at No. 2 with San Antonio coming in at third.
The data collected from the Bureau of Economic Analysis shows that Austin had a 34.7 percent increase in GRP (Gross Regional Product) from 2011-2016 — only 2.6 percent less than the No. 1 growing city (San Jose, CA.)
Texas in general is increasing its cities’ economies: Dallas-Ft. Worth is also in the top ten, beating out San Francisco for the No. 5 slot by 0.1 points. As a whole, many states across the country have done well in terms of increasing the growth of their economies. GRP increased by 11 percent in the United States from 2011-2016.
“From 2006 to 2011, U.S. GRP rose 1.4%. The point change in the 5-year growth rate from 2011 to 2016 is 9.5 percentage points.”
The report was based off 53 of the largest metropolitan areas in the United States.
[Via Spectrum News Austin]Posted on Friday, April 6, 2018