July 5, 2023

America growing in the south

Axios - Six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — now add more to the national GDP than the Northeast, the perennial powerhouse. . .Those six states' new muscle is part of a "$100 billion wealth migration" as the U.S. economic center of gravity tilts south, Bloomberg reports. . . . A flood of transplants helped steer about $100 billion in new income to the Southeast in 2020 and 2021 alone, while the Northeast bled out about $60 billion, Bloomberg writes from IRS data.

The Census Bureau said in May that nine of the nation's 15 fastest-growing cities were in the South. Of the nine fastest-growing cities in the South, six were in Texas.


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