Miami economy among biggest growers in the U.S.

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Of the largest 20 metropolitan areas in the country, the growth of Miami’s economy is the sixth highest, according to a new report from SpareFoot.

 

Data from the Bureau of Economic Analysis shows that the city’s economic growth is behind only San Francisco, Seattle, Tampa, Florida, Atlanta and Dallas.

Miami’s growth in 2016 is substantial, though slightly slower than years prior — 2.6 percent, up to $287 billion from $280 billion. In 2014, it surged 6.6 percent, and in 2015, it grew another 4.8 percent. However, the slower growth of the city’s gross domestic product last year was measurable: Out of the country’s top 100 metro economy’s, Miami’s growth was 31st highest.

The industries that are leading the city’s economic growth are varied, including professional and business services, information, transportation and utilities and construction.

The country’s fastest-growing metro in 2016 was San Francisco-Oakland-Hayward in California, which grew 5.4 percent from 2015.

 

by Kelly Mccabe – miamiagentmagazine.com

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