Tanvi Misra is a staff writer for CityLab covering immigrant communities, housing, economic inequality, and culture. She also authors Navigator, a weekly newsletter for urban explorers (subscribe here). Her work also appears in The Atlantic, NPR, and BBC.
America's national GDP grew 2.3 percent in 2014, but not every city fared equally well.
America’s GDP grew 2.3 percent in 2014, according to a recent Bureau of Economic Analysis report. But each metro contributed differently, and a new map by cost-info website howmuch.net takes a look at each city’s relative impact.
The map represents 2014 GDP growth for U.S. metros as green cones of varying height. The taller and darker green the cone, the more that city’s economy grew last year. Flat, red metros saw negative percent change in GDP growth: the redder these areas, the worse their economic conditions.
While the New York metropolitan area posted the highest GDP in the country, at $1.5 trillion, it only grew by 2.4 percent. The Dallas metro, meanwhile, showed the most relative growth among the 10 most populous U.S. metros: 8.5 percent.
Among the 381 metros analyzed by the BEA, the two metros with the most year-over-year growth were also in Texas. Midland saw a 24 percent GDP growth in 2014. San Angelo ranked second with an 11 percent increase.
Midland’s prosperity comes from tapping into its long untouched oil reserves. As then-Mayor Wes Perry told Governing in 2013, fracking “was the game changer.” But economic growth comes with problems. The rents in the city have become prohibitively high, a situation that’s worsening inequality in the region. Here’s a tweet from a Midland resident in 2014: