Americans with businesses in big blue cities saw their lives torn apart during COVID lockdowns. They had to close up, forcing many of them into bankruptcy, and out of business forever.
Now, Americans are leaving states and cities that tore apart their lives and moving to places where politicians respected their rights. Stessa has released a report on the top growing economies so far in 2021. Among the results were the 15 small, midsize, and large metro areas with the most economic growth.
Some states kept coming up. In the small, medium, and large metros with the fastest growth, Florida held 4, 4, and 3 of the top 15 spots respectively. Utah also scored a number of cities in the top tier. Stessa reported that Florida and Utah were the two states with the most economic growth this year, writing:
Based on these metrics, Utah and Florida are the two states with the most economic growth this year. Both states saw employment grow by 1.5% from January to May and have lower than average unemployment rates (at 2.7% and 5.0%, respectively). At a time when housing is in short supply across much of the country, new residential construction is booming in these states, with 107 and 79 average monthly building permits per 100,000 residents, respectively, far above the national rate of 43.
Aside from Florida and Utah, many of the fastest-growing metro economies in America are in the country’s Growth Corridors, the Intermountain West, the Great Plains, and the South.
The south is home to America’s fastest-growing large metro economy, Nashville. Pushing Nashville into the lead position was its growing employment, low unemployment, a large number of building permits per resident, and a high number of home sales. Stessa wrote:
The metropolitan areas with the most economic growth in 2021 are scattered across the South, Southeast, and West. These metros have fared well in their economic recovery from the pandemic, with good employment growth, low unemployment rates, and strong housing markets. One of the hardest hit metro areas in the U.S. during the pandemic, Las Vegas, had the highest employment growth from January to May, at 3.1%. Florida is home to a number of large metros in the top 15, due to brisk home sales and lower than average unemployment rates.
A significant number of small and midsize metros with the most economic growth in 2021 are located in Florida and Utah. The Naples-Marco Island, FL metro area had an average of 462 monthly home sales per 100,000 residents in the first 5 months of 2021, nearly 3 times the national average. New home construction is also booming in many of these areas—the North Port-Sarasota-Bradenton, FL had an average of 159 monthly building permits per 100,000 residents, 3.7 times the national average of 43.
The fastest-growing midsize metro economy was Huntsville, Alabama, and the fastest-growing small metro was Spartanburg, South Carolina. It was a clean sweep for the south, home to the fastest-growing metro economies in each category.
Action Line: If you’re thinking about moving your family or your business, consider some of the locations mentioned by Stessa’s report. If you live in a state that ruined your livelihood, look for a better America today.
