0
0
0

Atlanta has the second-fastest growing economy among top 10 U.S. metros

by

Atlanta’s population is booming, and one of its biggest drivers is the city’s growing economy. It currently has the second-fastest growing economy among the 10 biggest U.S. metro areas last year, according to the U.S. Bureau of Economic Analysis.

According to Sparefoot, which analyzed the data in the U.S. Bureau of Economic Analysis, the Atlanta-Sandy Springs-Roswell MSA generated a gross GDP of $308.7 billion. In 2016, it grew 3.7 percent to $320 billion.

The main driver behind the growth? The booming IT sector in Atlanta, which accounted for almost a full percentage point of total GDP growth. Other major industry growth areas in the city include insurance, finance and real estate, as well as growing utilities, transportation, professional and business service fields.

The only major metro to surpass Atlanta in terms of 2016 growth was San Francisco, which grew 5.4 percent in 2016 mainly due to its finance, insurance and real estate sectors. Following Atlanta was the Dallas-Fort Worth-Arlington MSA, which grew 3 percent on a year-over-year basis.

When analyzing the economies of the 100 biggest metros, Atlanta still ranks high, coming in as the 15th-fastest growing city, just behind Las Vegas.

Read More Related to This Post

Join the conversation

New Subscribe