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NYC sets trillion-dollar pace among U.S. metros

Mon, Sep 28th 2009 12:00 am
By G. SCOTT THOMAS
Business First

New York City is America's only metropolitan area with a trillion-dollar economy, according to a new report from the U.S. Bureau of Economic Analysis.

The New York City area, which sprawls across four states, generated a gross metropolitan product (GMP) of $1.264 trillion last year, outpacing all other metros by far.

GMP measures the total output of goods and services within a given area in a given year. It is a small-scale equivalent of gross domestic product, the national measure of economic prowess.

Los Angeles ($717.9 billion) and Chicago ($520.7 billion) were the only other metros whose GMPs surpassed half a trillion dollars in 2008.

The new rankings put five Upstate New York areas in the national top 100 for GMP.

Rochester is the Upstate leader with GMP of $45.4 billion, good for 52nd place nationally. Close behind are Buffalo, in 55th place at $44 billion, and Albany, in 56th at $39.3 billion. The other Upstate entries are No. 78, Syracuse ($26.9 billion), and No. 95, Poughkeepsie ($21.0 billion).

The typical U.S. metro expanded its economy by 0.8 percent between 2007 and 2008, but four Upstate metros surpassed that rate.

Albany registered a year-to-year gain of 3.4 percent in gross metropolitan product. Poughkeepsie pushed up by 2.9 percent, Syracuse by 1.4 percent and Buffalo by 1.3 percent. The exception was Rochester's gain of 0.7 percent, one-tenth of a point below the national pace.

The following are the 100 metros with the largest gross metropolitan products in 2008:

1. New York City, $1.264 trillion

2. Los Angeles, $717.9 billion

3. Chicago, $520.7 billion

4. Houston, $403.2 billion

5. Washington, $395.7 billion

6. Dallas-Fort Worth, $379.9 billion

7. Philadelphia, $331.9 billion

8. San Francisco-Oakland, $310.8 billion

9. Boston, $299.6 billion

10. Atlanta, $269.8 billion

11. Miami-Fort Lauderdale, $261.3 billion

12. Seattle, $218.8 billion

13. Detroit, $200.9 billion

14. Minneapolis-St. Paul, $193.9 billion

15. Phoenix, $187.4 billion

16. San Diego, $169.3 billion

17. Denver, $150.8 billion

18. San Jose, $146.7 billion

19. Baltimore, $133.0 billion

20. St. Louis, $128.5 billion

21. Charlotte, $118.4 billion

22. Pittsburgh, $114.7 billion

23. Riverside-San Bernardino, Calif., $113.1 billion

24. Portland, Ore., $112.4 billion

25. Tampa-St. Petersburg, $110.5 billion

26. Cleveland, $104.4 billion

27. Orlando, $104.0 billion

28. Kansas City, $101.0 billion

29. Cincinnati, $98.8 billion

30. Las Vegas, $97.1 billion

31. Indianapolis, $96.4 billion

32. Sacramento, $93.7 billion

33. Columbus, $89.8 billion

34. Milwaukee, $82.7 billion

35. Bridgeport-Stamford, Conn., $81.4 billion

36. San Antonio, $80.9 billion

37. Austin, $80.1 billion

38. Nashville, $78.9 billion

39. Virginia Beach-Norfolk, $77.1 billion

40. Hartford, $74.5 billion

41. New Orleans, $72.4 billion

42. Providence, $65.2 billion

43. Memphis, $63.8 billion

44. Salt Lake City, $62.5 billion

45. Richmond, $61.4 billion

46. Jacksonville, $59.7 billion

47. Oklahoma City, $57.1 billion

48. Louisville, $56.3 billion

49. Birmingham, $54.3 billion

50. Raleigh, $53.5 billion

51. Honolulu, $48.1 billion

52. Rochester, N.Y., $45.4 billion

53. Tulsa, $45.2 billion

54. Omaha, $44.9 billion

55. Buffalo, $44.0 billion

56. Albany, $39.3 billion

57. Baton Rouge, La., $39.2 billion

58. New Haven, Conn., $37.6 billion

59. Oxnard-Thousand Oaks, Calif., $35.1 billion

60. Albuquerque, $34.9 billion

61. Des Moines, Iowa, $34.3 billion

62. Dayton, $33.8 billion

63. Greensboro, $33.2 billion

64. Grand Rapids, $33.1 billion

65. Madison, Wis., $33.0 billion

66. Durham, N.C., $32.3 billion

67. Tucson, $31.8 billion

68. Little Rock, Ark., $31.0 billion

69. Columbia, S.C., $30.1 billion

70. Allentown-Bethlehem, Pa., $29.7 billion

71. Knoxville, Tenn., $29.6 billion

72. Fresno, Calif., $28.9 billion

73. Wichita, Kans., $28.5 billion

74. Worcester, Mass., $28.4 billion

75. Akron, Ohio, $28.1 billion

76. Harrisburg, Pa., $27.9 billion

77. Bakersfield, Calif., $27.8 billion

78. Syracuse, N.Y., $26.9 billion

79. El Paso, Texas, $26.4 billion

80. Charleston, S.C., $26.3 billion

81. Anchorage, $26.3 billion

82. Toledo, Ohio, $26.1 billion

83. Portland, Maine, $24.8 billion

84. Greenville, S.C., $24.8 billion

85. Trenton, N.J., $24.5 billion

86. Colorado Springs, $24.1 billion

87. Boise, Idaho, $24.0 billion

88. Bradenton-Sarasota, Fla., $23.8 billion

89. Jackson, Miss., $23.1 billion

90. Lexington, Ky., $22.7 billion

91. Shreveport, La., $22.4 billion

92. Springfield, Mass., $22.3 billion

93. Winston-Salem, N.C., $21.9 billion

94. Cape Coral-Fort Myers, Fla., $21.1 billion

95. Poughkeepsie, N.Y., $21.0 billion

96. Manchester, N.H., $20.8 billion

97. Chattanooga, Tenn., $20.8 billion

98. Reno, Nev., $20.6 billion

99. Santa Rosa, Calif., $20.2 billion

100. Santa Barbara, Calif., $19.6 billion