Atlantahad a gross metropolitan product of $306.2 billion in 2013, making it the 10th largest metropolitan economy in theUnited States.
If that’s not impressive enough, juxtapose it with the rest of the world: Atlanta’s economy is almost exactly thesame size as that ofIran, which has more than 76 million people and abundant stores of oil.
In fact, if the Atlanta metro area were a standalone country, it would have the world’s 44th largest economy, just behindMalaysia,Denmark,South AfricaandVenezuelabut ahead ofNigeria,SingaporeandIsrael.
That’s all according to the June Metro Economies Report Index byThe United States Conference of Mayors, which tracks the economies of the top 100 metro areas in the country.
The data reinforce Atlanta MayorKasim Reed‘s vocal assertions that mayors are growing in influence as the world urbanizes and businesspeople grow “tired of the dysfunction of the federal government.”
“Businesspeople around the world are frustrated with national governments. When you have a local leader who has the ability, and more importantly, the will to put it on the line and move, that’s going cause the real disruption between now and 2024,” he said during a panel onImagining 2024: Urban Americaat theAspen Ideas Festivalin June
Mr. Reed foresees an era in which public-private partnerships between companies and receptive local leaders become more common as the federal government retreats from funding city functions, seeing its influence diminish along with the “size of its checkbook.”
He saw the trend as a cause for optimism.
“I think that that frees us up to do our own deal and to be creative,” he said to applause from the audience.
The U.S. Conference of Mayors report showed that job growth in Atlanta, along withHouston,DallasandSan Francisco, will outpace that of the rest of the top 10 metro areas in the coming years. It projected that Atlanta’s metro economy will grow to $321.1 billion this year and $339.9 billion in 2015.
View the full June 2014 report here (PDF).
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As managing editor of Global Atlanta, Trevor has spent 15+ years reporting on Atlanta’s ties with the world. An avid traveler, he has undertaken trips to 30+ countries to uncover stories on the perils...More by Trevor Williams
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As an expert in economic analysis and urban development, it's fascinating to delve into the intricate details of the economic landscape, especially concerning metropolitan areas. In this particular article by Trevor Williams, published on July 8, 2014, he discusses Atlanta's impressive gross metropolitan product (GMP) and its standing among the top metropolitan economies in the United States.
Firstly, let's establish the credibility of the information presented. The data is sourced from The United States Conference of Mayors, which releases the June Metro Economies Report Index. This report is a comprehensive analysis that tracks the economies of the top 100 metro areas in the United States. The fact that the information comes from a reputable organization like The United States Conference of Mayors lends credibility to the statistics provided in the article.
Now, let's break down the key concepts used in the article:
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Gross Metropolitan Product (GMP): This is a measure of the total economic output of a metropolitan area. In 2013, Atlanta had a GMP of $306.2 billion, making it the 10th largest metropolitan economy in the United States.
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Comparison with International Economies: The article draws an interesting comparison by highlighting that Atlanta's economy is roughly the same size as that of Iran. This adds a global perspective to the discussion. If Atlanta were a standalone country, it would have the 44th largest economy globally.
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Urbanization and the Role of Mayors: Atlanta Mayor Kasim Reed emphasizes the growing influence of mayors in a world that is urbanizing. He suggests that as businesspeople become frustrated with national governments, local leaders, such as mayors, can play a pivotal role. The article suggests that this shift in dynamics may lead to increased public-private partnerships between companies and local leaders.
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Optimism Amid Federal Government Retreat: Mayor Reed sees optimism in the trend where federal government influence diminishes, allowing local entities to be more creative and engage in public-private partnerships. He anticipates an era where cities take more control over their destinies.
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Projections for Job Growth: The U.S. Conference of Mayors report projects strong job growth in Atlanta, as well as in Houston, Dallas, and San Francisco. The article highlights that job growth in these cities is expected to outpace that of the rest of the top 10 metro areas in the coming years.
In conclusion, this article provides a snapshot of Atlanta's economic prowess, backed by data from a reliable source. It also touches on broader trends in urbanization, the evolving role of mayors, and the potential for increased local autonomy and creativity in the face of a retreating federal government. The projections for job growth add a forward-looking perspective, making it a well-rounded piece on the economic dynamics of metropolitan areas.
