"Productivity rose in just 5 of 100 major cities studied
The Austin economy has grown more than those of any of the largest 100 American metros during a period when 95 percent of those metro economies contracted, according to a December Brookings Institution report.
Opinions vary on why Austin’s gross metropolitan product — or GMP, the value of goods and services produced — expanded by 2 percent from the end of fiscal 2008 until now. The average U.S. metro area saw its GMP decline 2.4 percent.
A vague conclusion from local experts points to Austin’s business and technology services sector. In simple terms, the region is exporting experience and technical know-how instead of widgets and rubber hoses.
“If you think about business services as an export, it is high,” said Brian Kelsey, economic development director for the Capital Area Council of Governments."
Courtesy of Austin Business Journal- Friday, January 8, 2010
No comments:
Post a Comment