New Report Estimates Austin to Have Top Growing Metro Economy for 2013-2014
A new report estimates that Austin will have the top growing metro economy from 2013 to 2014. This report was created for the U.S. Conference of Mayors, and was compiled by international forecasting and information company IHS Global Insights.
This new report projects that the Austin-Round Rock- San Marcos area will increase the region's gross metropolitan product by 5.9 percent in the next year. The GMP equals the total value of services and goods in a metro area. It's projected that the Austin area's value will grow from $103.2 billion to $109.3 billion.
Of the 363 metro areas in the report, 244 are expected to have some expansion in 2014. Only the top 22 metro areas in the country are estimated to grow by over 5 percent.
Other Texas areas were also included at the top of the report. Both Houston and Dallas-Ft. Worth made the cut. Houston ranked 8th on the list, while Dallas-Ft. Worth ranked 4th. Though neither city is expected to grow their GMP quickly as Austin in 2014, both do have higher GMP values than the State's capital. Houston reached $463.7 billion in GMP this year, while Dallas reached $436.4 billion according to the report.
Cain Realty Group with Keller Williams Realty is excited for this new report. Over the past few years we've watched as Austin has continued to grow. Many new businesses have come to the area, as well as many new people relocating to Austin. If you or anyone you care about will be moving to the Austin area soon, please contact our office immediately at 512.522.4659. We would love to help them transition smoothly and find a great home and investment in Austin. We also would be more than happy to send them a complimentary relocation guide.