Charlotte, Raleigh rank among nation’s fastest-growing local economies

CHARLOTTE — The Charlotte area will finish this year as one of the nation’s 10 fastest-growing economies, according to data analysis and projections by the Kenan Institute of Private Enterprise at UNC Chapel Hill.

According to the report, released this morning, Charlotte ranks eighth among the 50 largest metro areas in the U.S. for gross domestic product growth at 2.5%.

The study is the first from the American Growth Project. That Kenan Institute research series will examine so-called microeconomies in cities, towns, suburbs and rural communities by analyzing how they differ and how they align.

An example of the latter: researchers at Kenan Institute created “extended metro areas” for the economic output study to minimize statistical oddities such as the federal government classifying Raleigh-Durham-Chapel Hill as two separate economic areas. The extended metros allow for better linking of related economies and capturing what the researchers describe as distinct ecosystems.

The metro areas are ranked based on percentage growth in GDP. San Francisco is No. 1 at 4.8%, followed by Austin (4.3%), Seattle (3.5%), Raleigh-Durham (3.4%), Dallas (3.1%), Denver (3%), Salt Lake City (2.8%), Charlotte (2.5%), and, rounding out the top 10, New Orleans and Orlando, each at 2.4%.

Read more here.

(WATCH BELOW: Housing market starting to improve for buyers, some experts say)

Housing market starting to improve for buyers, some experts say

©2022 Cox Media Group