Thursday, July 6, 2023

Our New Economic Center of Gravity

 Bloomberg reports an economic first.

The numbers tell the story. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — are contributing more to the national GDP than the Northeast, with its Washington-New York-Boston corridor.

The Southeast accounted for more than two-thirds of all job growth across the US since early 2020, almost doubling its pre-pandemic share. And it was home to 10 of the 15 fastest-growing American large cities.

Many of the people and firms moving South are from the Northeast, but also a fair number are from California. Escaping high taxes is certainly a factor in these moves, but so are a perceived business friendly climate and a sense the collection of vaguely un-American values we call "woke" has made fewer inroads there. 

The DrsC personally know several Californians who've make the move to the South and are happy with it. We however are comfortable in the thin, dry air of the Mountain West.