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Tampa Bay's GDP outpaced other large Florida metro areas in 2011

Among Florida's bigger metro areas, Tampa Bay grew the fastest in 2011, the U.S. Bureau of Economic Analysis reported Friday.

The inflation-adjusted gross domestic product for Tampa-St. Petersburg-Clearwater grew 1.6 percent in 2011, the bureau reported. The GDP of Florida's three other large metro areas — Miami-Fort Lauderdale, Orlando and Jacksonville — all grew at the same 0.6 percent rate in 2011, less than half that of Tampa Bay's.

Tampa Bay's growth in economic output matched the average real GDP growth of 1.6 percent of 366 metro areas nationwide in 2011. Those metro areas grew an average 3.1 percent in 2010.

A few midsize metro areas in the state, including Lakeland and Fort Myers, saw their metro GDPs shrink in 2011 from 2010.

Of the 10 largest metropolitan areas, the three with the fastest real GDP growth in 2011 were the Houston metro area (3.7 percent), Dallas-Fort Worth (3.1 percent) and the San Francisco area (2.6 percent). The 10 largest metropolitan areas, accounting for 38 percent of U.S. metropolitan area GDP, averaged 2 percent growth in 2011.

The important economic measure calculates the value of all goods and services produced in a region on an inflation-adjusted basis.

Inflation-adjusted GDP increased in 242 of the nation's 366 metropolitan areas in 2011. The overall growth was spurred by increases in professional and business services, durable-goods manufacturing and trade, according to the bureau.

Florida metro area GDP

Metro2011 GDPRank by U.S. sizeRank by growth

from 2010
Tampa Bay$116 billion24120
Miami/Fort Lauderdale$263 billion11197
Orlando$102 billion30197
Jacksonville$61 billion47197

Source: U.S. Department of Commerce Bureau of Economic Analysis

Tampa Bay's GDP outpaced other large Florida metro areas in 2011 02/22/13 [Last modified: Friday, February 22, 2013 9:05pm]
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