Fastest Growing Economy in America
Steven Huang | November 14, 2022
Real Estate
Steven Huang | November 14, 2022
Real Estate
San Francisco Bay Area, including Silicon Valley, is ranked as having 2022's fastest growing economy among top 50 US metros. Kenan Institute of Private Enterprise, a business policy think tank at the University of North Carolina at Chapel Hill, revealed this in its October American Growth Project report, with other tech hubs Austin and Seattle ranking second and third, respectively. The study cites the shift from low tech to high tech and the migration toward the West and South as key factors. Nonetheless the shadow of remote work, tech layoffs and housing affordability hang over the region. Its enormous GDP outsizes other top gaining metros by orders of magnitude, and it may take years to erode its leadership, if ever.
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