Tuesday, October 15, 2013
Richard Florida worries that people aren't moving to places with the strongest rates of growth:
The disconnect between population growth and productivity growth is striking. Palm Coast, Florida, which leads the country in population growth, also has the lowest level of productivity growth of any metro in the country. Cape Coral, Florida, with the fifth highest level of population growth, logged the second lowest level of productivity growth. Myrtle Beach which is sixth in population growth had the eighth lowest level of productivity growth. Only one of the top 10 leading population growth metros broke into the top 100 in terms of productivity growth, Austin in 64th place. Six of out of the top 10 metros with the highest rates of population growth saw real declines in productivity over the course of the decade. And the average rate of economic growth across these top 10 metros was also negative, (-0.53 percent per year) and beneath the U.S. metro average (of 0.48 percent annually). When it comes to fast growing large metros, Houston and Atlanta both experienced considerable population growth rates over the past decade, while seeing real declines in productivity over the period.