Featured News - Current News - Archived News - News Categories
NYC sets trillion-dollar pace among U.S. metros
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


