Columbus Ranked #8 US City for Economic Growth
The US Bureau of Economic Analysis released new data last week that takes an updated look at the current state of economic output generated by individual US metro areas. Columbus ranked at #8 on the list with a 3.3% GDP growth since 2012, which is nearly double the 1.7% national average.
“The metros where economic output grew the most are clustered along the tech hubs of California and the West, the energy centers of Texas and the Gulf Coast, and the shale gas industry hot spots of West Virginia and Ohio,” said Richard Florida in his analysis of the data on Citylab.com. ”The regions where economic growth declined (in orange) are concentrated in the South, Midwest, and Mid-Atlantic.”
What this means for Columbus is that its one of the few larger center of the Midwest doing very well despite being in a rust-belt region that still struggles with economic reinvention.
Houston topped the rankings, with regional competitor Indianapolis coming in 7th place. Cleveland was noted near the bottom of the list in 42nd place with only 0.5% growth, but growth nonetheless.
To read more information and the full report, visit www.citylab.com.