Gross Metropolitan Product of SC Metros

[Spartan]

As housing units continue to grow east of the county line you will probably see that shift to Spartanburg. Right now in a 10 mile circle around the plant, there is more housing on the Greenville side of the line.

[krazeeboi]

The latest figures for metropolitan GDP (which are for the year 2006) have been out for some time now, but I thought the figures had been reported here; I guess not. Here they are:

Anderson

2006: $4.378 billion

1-yr change: 4.02%

5-yr change: 13.19%

Charleston

2006: $24.056 billion

1-yr change: 6.36%

5-yr change: 40.38%

Columbia

2006: $28.401 billion

1-yr change: 7.38%

5-yr change: 30.21%

Florence

2006: $6.535 billion

1-yr change: 4.79%

5-yr change: 19.78%

Greenville

2006: $22.939 billion

1-yr change: 3.90%

5-yr change: 13.72%

Myrtle Beach

2006: $9.064 billion

1-yr change: 8.34%

5-yr change: 42.00%

Spartanburg

2006: $9.421 billion

1-yr change: 5.38%

5-yr change: 18.56%

Sumter

2006: $2.877 billion

1-yr change: 4.35%

5-yr change: 26.68%

For comparison, here are the figures for some neighboring metros:

Atlanta

2006: $257.032 billion

1-yr change: 5.45%

5-yr change: 26.75%

Augusta

2006: $16.448 billion

1-yr change: 2.80%

5-yr change: 20.15%

Charlotte

2006: $114.147 billion

1-yr change: 9.89%

5-yr change: 41.20%

Greensboro

2006: $31.830 billion

1-yr change: 7.11%

5-yr change: 19.36%

Raleigh

2006: $47.851 billion

1-yr change: 10.39%

5-yr change: 32.40%

Source: http://www.bea.gov/regional/gdpmetro

[Spartan]

Augusta is an interesting comparison. I always equated that metro as being similar to Columbia but its remarkedly smaller, at least in terms of its economy.

Do you know if Greensboro and Raleigh include Winston-Salem and Durham, respectively?

[monsoon]

Given that this is now 3 year old data and taken at the time when the false economic boom was at it's height, it will be interesting to see the numbers now, and especially the numbers since the beginning of 4Q08. I would expect to see some significant declines in some of these metros.

[krazeeboi]

Augusta is an interesting comparison. I always equated that metro as being similar to Columbia but its remarkedly smaller, at least in terms of its economy.

I thought the same thing. I knew the MSA was about 150K-200K smaller, but I didn't know that its economy was that much smaller.

Do you know if Greensboro and Raleigh include Winston-Salem and Durham, respectively?

They do not.

Given that this is now 3 year old data and taken at the time when the false economic boom was at it's height, it will be interesting to see the numbers now, and especially the numbers since the beginning of 4Q08. I would expect to see some significant declines in some of these metros.

Same here. I wonder if the 2007 figures will see the tide starting to turn.

[Spartan]

I expect so. I think Myrtle and Charleston will see the largest declines.

[krazeeboi]

Obviously, the more the local economy depended on construction and (speculative) real estate, the more of a drop we'll see. Myrtle Beach will bear the brunt of that more than any other metro in the state.

It's also interesting to see how the different sectors on each local economy performed during the past few years. For instance, I was a bit surprised to see that the finance and government sectors had similar rates of growth in Columbia.

[krazeeboi]

The 2008 metropolitan GDP figures have been out for some time now, but I'm just getting around to posting them. Here they are:

And here are the percent changes from 2001-2008:

[CorgiMatt]

I would have thought Charleston's was closer to Columbia's

[krazeeboi]

Now with Boeing coming to town, Charleston will definitely close that gap.

[krazeeboi]

The 2009 metro GDP figures are out. Looks like every metro in the state slipped a little except Columbia, which posted a very small gain.

[krazeeboi]

2010 Gross Metropolitan Product of SC's metros (ranked according to national position among MSAs nationwide)

69. Columbia ($32.2 billion)

78. Charleston ($27.9 billion)

85. Greenville ($25.9 billion)

169. Spartanburg ($10.4 billion)

184. Myrtle Beach ($9.6 billion)

215. Florence ($7.2 billion)

286. Anderson ($4.6 billion)

349. Sumter ($3.1 billion)

The SC portion of the Charlotte MSA (York County): $8.63 billion

The SC portion of the Augusta MSA (Aiken, Edgefield counties): $6.17 billion

National ranking by annual average growth rate, 2000-2010

55. Charleston (5.5%)

163. Myrtle Beach (4.3%)

174. Columbia (4.2%)

281. Sumter (3.2%)

284. Florence (3.1%)

303. Spartanburg (2.9%)

313. Greenville (2.6%)

333. Anderson (2.1%)

Source: http://www.usmayors.org/metroeconomies/2011/report.pdf

[ausrutherford]

Shouldn't Greenville and Spartanburg's be counted together since they are so close they interconnect?

[gman430]

Seems like Greenville always fall behind Columbia and Charleston with these positive statistics. Talk about depressing. Just once, I would like to see Greenville ranked first. Is that so much to ask?

[CorgiMatt]

Shouldn't Greenville and Spartanburg's be counted together since they are so close they interconnect?

Then you'd have to lump them together with things like the unemployment rate, education attainment, etc. No stat-accommodating combining or separating allowed.

[krazeeboi]

Shouldn't Greenville and Spartanburg's be counted together since they are so close they interconnect?

They do not constitute one metropolitan statistical area. But I'm sure there are stats based on combined statistical areas (which Greenville, Spartanburg, and Anderson are) out there somewhere.

Seems like Greenville always fall behind Columbia and Charleston with these positive statistics. Talk about depressing. Just once, I would like to see Greenville ranked first. Is that so much to ask?

Greenville ranks first in the state when it comes to exports.