Mid-Sized Metros with Fastest Growing Gross Regional Product are Provo, Fayetteville and Cape Coral; Slowest are Palm Bay, Albuquerque, Syracuse

30 Nov 2016 Mid-Sized Metros with Fastest Growing Gross Regional Product are Provo, Fayetteville and Cape Coral; Slowest are Palm Bay, Albuquerque, Syracuse

Recently released data from the Bureau of Economic Analysis illuminates which mid-sized metros have the fastest growing Gross Regional Product (GRP). Growth is measured by the percentage change in GRP between 2010 and 2015. Headlight Data ranks growth for the 52 mid-sized metros (500,000-1,000,000 people) in the U.S.

In the last five years, Gross Regional Product grew 21% in the United States. Among mid-sized metros, the highest growth is found in Provo (34%). Fayetteville (30%), Cape Coral (29%), and Des Moines (28%) follow. Other mid-sized metros with rapidly growing GRP are Charleston, McAllen and Toledo.

The slowest growth in Gross Regional Product is found in Palm Bay (7%). Albuquerque (9%), Syracuse (10%) and Lakeland (10%) follow.

 

 
From 2005 to 2010, U.S. GRP rose 14%. The point change in the 5-year growth rate from 2010 to 2015 is 7 percentage points. The mid-sized metros showing the most improvement (with the greatest increase in the 5-year growth rate) are Cape Coral (+35 pts.), Youngstown (+28 pts.) and North Port (+25 pts.). Des Moines, Toledo and Modesto also experienced a substantial improvement.

Growth has slowed in fourteen large metros since 2010. The mid-sized metros with the largest decreases in growth rate are Durham (35 pt. decrease), Bakersfield (-19 pts.) and Wichita (-10 pts.). Other metros with a declining 5-year growth rate since 2010 are Jackson, Syracuse and Little Rock.

 

 

 
Research, analysis and content developed by Headlight Data. Original data from the Bureau of Labor Statistics.

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Headlight Data is an award-winning online data aggregator, designed for economic and workforce development organizations, that provides online, decision-support tools on the economy, demographics, education, workforce and public policy.

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