Among metro area GDPs, Tampa Bay gains momentum

Tampa Bay's economy grew faster in 2012 than it has in recent years and expanded more quickly last year than the average of metropolitan areas nationwide.

The Tampa-St. Petersburg-Clearwater metro market's 3.1 percent growth represents a big jump from 2011 (up 1.5 percent) and 2010 (down 0.3 percent).

The national average was a 2.5 percent increase, with 305 of the nation's 381 metropolitan areas experiencing at least some growth in 2012.

The Tampa Bay area's big winner was the financial services sector, followed by trade and professional services. Sectors that declined in this metro area in 2012 include transportation and utilities, government, education and health services and natural resources and mining.

Not all Florida metro area economies grew last year. Among those reporting GDP declines were Tallahassee, Gainesville, Palm Bay-Melbourne-Titusville and Panama City.

How's our metro GDP doing?

Metro area2012 GDPPercent annual growth
New York-Newark-Jersey City$1,173 billion1.4 percent
Atlanta-Sandy Springs-Roswell, Ga.$256.4 billion2.6 percent
Miami-Fort Lauderdale-W. Palm Beach $237.8 billion 3.5 percent
Charlotte-Concord-Gastonia, N.C.$118.9 billion4.9 percent
Tampa-St. Petersburg-Clearwater $104.2 billion 3.1 percent
Orlando-Kissimmee-Sanford $92.7 billion3.0 percent
Jacksonville $53.5 billion2.2 percent
Raleigh, N.C. $53.4 billion2.4 percent
Cape Coral-Fort Myers $18.0 billion2.2 percent
Pensacola-Ferry Pass-Brent $12.3 billion–0.7 percent

Source: U.S. Bureau of Economic Analysis: Figures are real or inflation adjusted gross domestic product.

Among metro area GDPs, Tampa Bay gains momentum 09/20/13 [Last modified: Friday, September 20, 2013 8:35pm]

© 2014 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...