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Key Findings of
the 1999 DRI Report on
Metro Economies
May 29, 2000
According to the 1999 report,
U.S. Metro Economies: The Engines of America’s Growth, which was prepared
by Standard and Poor’s DRI for The U. S. Conference of Mayors and the
National Association of Counties
U. S. metro areas accounted for
85% of the nation’s gross domestic product in 1999.
Metro areas generated 84% of
the nation’s employment and 88% percent of the nation’s labor income in
1999.
Metro economies are responsible
for 86%, or more than $2.4 trillion, of the nation’s economic growth from
1992 to 1999.
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95% of high tech and 94% of
business services jobs that were created between 1992 and 1999 were in
metro areas.
The report also ranks U. S. metro
areas relative to themselves, states and national economies around the
world:
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Metro area economies compare
even more favorably with world economies today than they did in 1997 (the
first year DRI conducted this analysis); Los Angeles’s gross output (i.e.
gross metropolitan product {GMP}), for example, increased from 19th to
17th in the world, overtaking Argentina and Russia’s entire economic
output.
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If city/county metro economies
were ranked with nations, 48 of the world’s largest 100 economies, and 85
of the top 150 would be U.S. metro areas.
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The GMP of the ten largest U.S.
metro areas exceeds the combined output of 31 states.
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