The Austin, TX, economic train keeps chugging along.
A LawnStarter analysis of economic projections compiled by IHS Global Insight for the U.S. Conference of Mayors shows that among the 50 U.S. metro areas with the biggest economies, the Austin area’s economy will expand the most from 2015 to 2021. The Austin area’s projected growth rate of 44.12 percent edges the projected rates for two other Texas metro areas — Dallas-Fort Worth and Houston — by less than 1 percentage point.
“Austin is one of the brightest regional economic stars in the United States, with no change anticipated,” economist Jon Hockenyos says in a report for the City of Austin. “Austin remains, relative to its peer communities, a high-value proposition.”
Frost Bank Tower in Austin, TX
Flickr/Kumar Appaiah
In all, four metro areas in Texas and two in California appear in our top 12.
For this ranking, LawnStarter examined IHS Global Insight’s forecast for the 50 biggest metro economies in the U.S. as gauged by something known as gross metropolitan product (GMP). This yardstick measures the total economic output, in goods and services, for a metro area. A similar yet better-known economic yardstick is gross domestic product (GDP), which counts a nation’s output of goods and services.
Here are the country’s top 12 metro areas for projected growth in GMP from 2015 to 2021.
1. Austin, TX
360 Bridge in Austin, TX
Flickr/Roy Niswanger
Projected size of economy in 2015: $114.7 billion
Projected size of economy in 2021: $165.3 billion
Projected increase 2015-21: 44.12%
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2. Dallas-Fort Worth, TX
Skyline of Dallas, TX
Flickr/Daxis
Projected size of economy in 2015: $486.7 billion
Projected size of economy in 2021: $698.8 billion
Projected increase 2015-21: 43.58%
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3. Houston, TX
Bayou Place in Houston, TX
Flickr/Katie Haugland
Projected size of economy in 2015: $535.1 billion
Projected size of economy in 2021: $767.7 billion
Projected increase 2015-21: 43.47%
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4. Raleigh, NC
Skyline of Raleigh, NC
Flickr/James Willamor
Projected size of economy in 2015: $74.3 billion
Projected size of economy in 2021: $105.4 billion
Projected increase 2015-21: 41.86%
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5. Las Vegas, NV
The Strip in Las Vegas, NV
Flickr/Bill Gracey
Projected size of economy in 2015: $101.8 billion
Projected size of economy in 2021: $143.3 billion
Projected increase 2015-21: 40.77%
6. Phoenix, AZ
Skyline of Phoenix, AZ
Flickr/Alan Stark
Projected size of economy in 2015: $228.4 billion
Projected size of economy in 2021: $321 billion
Projected increase 2015-21: 40.54%
7. Salt Lake City, UT
Skyline of Salt Lake City, UT
Flickr/Ron Reiring
Projected size of economy in 2015: $82.4 billion
Projected size of economy in 2021: $115.1 billion
Projected increase 2015-21: 39.68%
8. Riverside-San Bernardino, CA
Santa Fe Depot in San Bernardino, CA
Flickr/A.Davey
Projected size of economy in 2015: $140.7 billion
Projected size of economy in 2021: $196.4 billion
Projected increase 2015-21: 39.59%
9. Orlando, FL
Lake Eola in Orlando, FL
Flickr/Matthew Paulson
Projected size of economy in 2015: $122.9 billion
Projected size of economy in 2021: $171.4 billion
Projected increase 2015-21: 39.46%
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10. Sacramento, CA
Skyline of Sacramento, CA
Flickr/Kevin Cortopassi
Projected size of economy in 2015: $117.8 billion
Projected size of economy in 2021: $164 billion
Projected increase 2015-21: 39.22%
11. San Antonio, TX
Skyline of San Antonio, TX
Flickr/Om
Projected size of economy in 2015: $103.9 billion
Projected size of economy in 2021: $144.4 billion
Projected increase 2015-21: 38.98%
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12. Denver, CO
Skyline of Denver, CO
Flickr/Keith
Projected size of economy in 2015: $194.9 billion
Projected size of economy in 2021: $270.8 billion
Projected increase 2015-21: 38.94%
Top photo: Flickr/Don Mason