Useful Stats: Gross Metropolitan Product Per Capita, 2010-2015
Between 2010 and 2015, the vast majority of metro areas experienced growth in gross metropolitan product (GMP), led by energy-intensive regions such as Odessa, TX, and Bismarck, ND, according to an SSTI analysis of recently released data from the U.S. Bureau of Economic Analysis (BEA). The Elkhart, IN, and San Jose, CA, metropolitan areas experienced the largest increase in GMP per capita over the same period. Metro area gross domestic product (GDP), commonly referred to as gross metropolitan product (GMP), is derived as the sum of the GDP originating in all the industries in a metropolitan area, according to the BEA.
Between 2010 and 2015, 369 of 382 metro areas analyzed, or 96.6 percent, experienced growth in gross domestic product. Gross metropolitan product increased the fastest in: Odessa, TX (52.1 percent increase); Bismarck, ND (49.7 percent increase); and, San Jose, CA (43.5 percent increase). The metropolitan areas experiencing the largest declines in gross metropolitan product between 2010 and 2015 were: Sierra Vista, AZ (8.0 percent decrease); Homosassa Springs, FL (8.4 percent decrease); and, Corvallis, OR (18.9 percent decrease).
In 2015, the regions with the highest gross metropolitan product also had the highest populations: New York ($1.6 trillion), Los Angeles ($930.8 billion), and Chicago ($640.7 billion). On the other hand, Lewiston, ID ($2.2 billion); Grants Pass, OR ($2.0 billion); and Sebring, Florida ($2.0 billion) were the three metropolitan areas with the lowest amount of gross domestic product in 2015.
The close relationship between gross metropolitan product and metropolitan population makes comparisons across regions difficult. As a way to draw broader conclusions about the relative strength of a regional economy, it makes more sense to standardize the gross metropolitan product per capita. An increase in that figure would indicate that there is growth in a regional economy.
The regions with the highest levels of gross metropolitan product per capita in 2015 were Midland, TX ($128,792 per person); San Jose, CA ($118,989 per person); and, Bridgeport, CT ($106,940 per person). The Sebring, FL ($19,710 per person); The Villages, FL ($19,455 per person); and, Lake Havasu City, AZ ($18,785 per person) metropolitan areas had the lowest levels of gross metropolitan per capita in 2015.
Gross metropolitan product per capita grew the most in: Elkhart, IN (36.6 percent increase); San Jose, CA (33.8 percent increase); and, Bismarck, ND (33.3. percent increase) between 2010 and 2015. The metropolitan areas experiencing the largest decreases in gross metropolitan product per capita between 2010 and 2015 were: Casper, WY (6.4 percent decrease); Homosassa Springs, FL (8.2 percent decrease); and, Corvallis, OR (20.8 percent decrease).
The interactive map below shows trends in changing per capita gross metropolitan product during the 2010-2015 period. SSTI has also prepared the data in an interactive table, found below. The data in Excel format can be downloaded as well.useful stats, metros 101316.xlsx