Here is a listing of the Toronto Skyscraper Blog's forecast of the top performing economic cities in the United States for 2014. I'm looking at the top metro's based on growth not only in economic opportunities, but also those that grew in absolute terms of people which choose to migrate there. These cities are not only economically powerful within the context of the United States they are powerful in terms of the overall global economy. They are the cities to watch for 2014.
Since the economic downturn, 8.8 million jobs were lost, but only 7 million have been regained. the United States needs another 6 to 8 million jobs to get back to normal, The states with the fastest job growth are North Dakota, Utah Idaho, Texas, Colorado, Minnesota, Georgia, Washington, Arizona and New Jersey. The unemployment rate is projected to decline to about 6.7 percent around the end of next year.
The top 10 markets to watch for a housing turnaround in 2014 are Salt Lake City; Naples, Fla.; Tampa, Fla.; Atlanta; Boise, Idaho; Houston; Charlotte, N.C.; Denver; Seattle; and Tucson, Ariz.
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1. Dallas - GDP $400 Billion Dollars : This city will really benefit by strong growth in its local housing sector, which is one of the hottest in the United States right now. It is also benefiting from the resource boom within the United States and also Canada it is a center of Oil Resource Power, and Agriculture within the United States.
2. Houston - GDP - $420 Billion Dollars: Houston benefits from it's proximity to the majority of oil refining capacity in the southern United States. It is also the largest and fastest growing metro in Texas. There is also a bit of a housing uptick here as well.
3. Chicago - GDP - $550 Billion Dollars - This midwestern city will see it's fortunes rise with the rebound in the Financial Markets that we've been looking at going on during the first few months of 2013, in addition to an insurance company rebound also underway.
4. San Francisco GDP - 330 Billion Dollars: Big growth in the tech sector among the competing giants of Google and Apple will bring a windfall of cash to the city of high tech. The possibilities are endless.
5. New York City - GDP 1.3 Trillion Dollars - The rebound in the Financial Markets has begun, and I'm really optimistic (Bullish, you might say) about the prospects for the Big Apple in 2013.
6. Seattle - GDP 230 Billion Dollars - As with San Fran, Seattle thrives on high tech, but there is another big player in town, with Boeing (formerly headquartered here as well) and Microsoft driving this cities economic growth.
7. Los Angeles - GDP 755 Billion Dollars - This city benefits from the Entertainment Industry, and by the looks of things, we are heading for a blockbuster year for the Hollywood Movie Business. The best thing about Los Angeles, (besides the weather) is the fact that it is also a center of aerospace within the United States, leading in the technology that moves us Forward. Export/Import Trade also another plus for SoCal.
8 Philadelphia - GDP 450 Billion Dollars - I see good things moving forward for Philly in 2013, as with Chicago there is a huge presence of white collar work in this town and growth remains steady. Finance and Insurance are going to be big drivers here.
9. Washington - GDP 435 Billion Dollars - Even as the Federal Government retracts to bring down spending, the wealth located in the Washington DC area is truly staggering. It's cherry blossom lined streets may also be among the most beautiful in America. A true leader in all respects.
10. Miami GDP - 260 Billion Dollars - De facto Finance Capital of Latin America, and based in the United States. Another local, where the weather doesn't hurt it's prospects for growth.
11. Boston GDP $284 Billion Dollars - Will see growth from Insurance related industries and Finance
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