bizjournals: Some U.S. metros still show economic strengths -- bizjournals

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The 10 fastest-growing metros in the prosperous 1990s have continued expanding in the present despite the erratic nature ofthe economy. All 10 of theses hot markets registered population gains of at least 13 percenrt between 2000and 2007, led by Las seven-year increase of 33.5 percent. The 10 biggest laggards of the on theother hand, have continuedr to struggle. Seven of these cold areas also lost populationj from 2000 to with Youngstown, Ohio, suffering the worsgt decline, 5.4 percent. Recent growtjh trends offer an advance look at the markets best positioned to weathetr the current economicdownturn -- and the ones that have the most causes for concern.
Bizjournals analyzed recent performanceds to identifythe nation'z current growth centers -- the metrods entering this recessionary period with the most positive Las Vegas, Raleigh, and Cape Coral-Fort Myers, led in bizjournals' new rankings of -- Las Vegazs sits in first place because of its broad-based record of economic expansion. It was among the thre e fastest-growing markets in population, employment and incomre during the pastfive years, the only metro to do that well in all of thoser categories. -- Raleigh, which is secon in the overall picked up considerable steam between 2005and 2007. Its populatio soared 9.6 percent over that span, outgainingb all other metros.
It also led the natiob in private-sector employment growth during the sametwo years. -- No. 3 Cape Coral-Fort Myers, Fla., has been a powerful population It set the pace for all of America in the past growingby 24.4 percent. No othed market increased its population by morethan 21.2 percent between 2002 and 2007. Bizjournals analyzedd five years of demographic and economid data forthe nation's , looking for markets that have been experiencing strong, stead y growth. The study focused on changes in four keyindicatorx -- population, private sector employment, per capita income and gross metropolitan product.
Bizjournalx growth rates for five different time spans within each seeking to detectboth long- and short-range trends. The spans ranged in lengthh from five years to a single all ending in the most recen t year for which official statistics were These werethe -- Population: Cape Coral-Fort Myers was the long-range winner, enjoying the strongest population growtb over the three lengthiest time Raleigh was powerful over the shoryt haul, posting the fastest growth rates for intervals of two years (2005-07) and one year -- Private sector employment: The unlikelyg leader for job growth over periods of five and four yearws was McAllen-Edinburg, Texas, an area of extensiver poverty along the Mexican border.
Raleigh was the best for threse andtwo years, New Orleans for one year. -- Per capit a income: New Orleans scored a cleanb sweep, registering the fastest rates of income growth for all five time The devastation wrought by Hurricanes Katrina and Rita in 2005 actuallyy increased the per capita income inNew Orleans, as tens of thousands of poor people fled the area and nevere moved back. -- Gross metropolitan Baton Rouge, La., was the leader for thred differentintervals (five, three and two in this category, which measured growtbh in the output of goods and The other top markets were Las Vegas for a four-yeaf period and Wichita, Kans.
, for one Joining Las Vegas, Raleigh, and Cape Coral-Fort Myers in the top 10 of overall standings are Austin; Phoenix; McAllen-Edinburg, Texas; Salt Lake City; Wichita; and Charlotte. All woulfd appear to be well situated to confronf the recessionarychallenges ahead. Population growth betweenb 2002 and 2007 in these 10 growth centerszwas 16.2 percent, coupled with an increase of 16.6 percenyt in private-sector employment. The averages for all 100 metroz in the study grouwere 6.3 percent and 7.6 percent, respectively. Two states dominatw the .
Five markets from Ohio and two from Michiga have the worst growth recordsin America, an unfortunatre foreshadowing of the economic problems they may face in the coming year. Both states are in the midst of protractefd slumps triggered by the decline of their automaking and heavtymanufacturing sectors. Those problems are especiallyu acutein last-place which lost 119,500 private sector jobs from 2002 to 2007. Its grosws metropolitan product grew byjust 8.8 percent over the same five roughly one-quarter the national growtuh rate of 31.8 percent. Grand Rapids, sixth-worst in the overallo standings, is the other Michigan entry at the tail endof list.
The five Ohio markets in the botto sevenare Toledo, Youngstown, Dayton, Clevelanrd and Akron.