SOURCE The U.S. Conference of Mayors
Mayors Release New Report During 82nd Annual Meeting in Dallas, TX
DALLAS, June 20, 2014 /PRNewswire-USNewswire/ -- According to a new economic report released today by the U.S. Conference of Mayors (USCM), metro areas will continue to lead the way in stimulating the economy, propelling it to achieve its growth potential of more than 3%, a rate not reached since 2004. Released during the USCM 82nd Annual Meeting in Dallas, the report is based on analysis by IHS Global Insight and also shows that by 2016, nearly three quarters of all metros (269) will have unemployment rates below 6%.
The report also indicates that in 2013, metropolitan areas were home to 84% of the nation's population, 86% of total non-farm employment, 87% of total real income, 90% of new housing starts, and 90% of real gross domestic product. And they are expanding: total metropolitan employment climbed by 1.9% last year, real gross product increased by 2.1%, and metropolitan area population rose by 0.9%, with each growth rate faster than that of the US.
The report projects the economic growth of U.S. metro economies will accelerate next year (2015), driving the U.S. to real GDP gains of 3.2%.
"This report confirms what Mayors have been saying for years; that the economic prosperity of the U.S. economy is directly linked to the economic growth and job producing power of our nation's 363 metro areas," said USCM President Sacramento (CA) Mayor Kevin Johnson. "Mayors are optimistic that after years of struggling through the recession, we have turned the corner. Continued investment in our cities promises to be the game-changer the country needs to generate more jobs and fuel a full and robust recovery."
The report also finds that eight of the world's 40 highest producing economies are U.S. metro areas. It cites New York's economy as ranking 13th among the nations of the world, ahead of Spain, South Korea and Mexico.
"Not only does this report show that metro areas are the beating heart of the U.S. economy, it also points to the importance of metro areas as competitive forces in today's world economy," said USCM Vice President Baltimore (MD) Mayor Stephanie Rawlings-Blake. "U.S. metros comprise 36 of the 100 largest world economies, and are truly major players in the global economy."
"As this report shows, the role that metro areas play in spurring employment growth, export expansion and economic output can not be underestimated," said USCM's Chair for the Council on Metro Economies and the New American City Columbus (OH) Mayor Michael Coleman whose Council issued the report. "We need to invest in, not hinder, our metro areas because most of our future economic growth and the vast majority of our Gross Domestic Product will come from them."
The report can be found here: http://usmayors.org/metroeconomies/2014/06/report.pdf.
Key findings or the report include:
2013 Metro Economy Performance
U.S. Metro Economy Forecast
The Mayors' meeting, where the report was released, is slated to span four days with confirmed speakers as follows:
Friday, June 20 – Opening Press Conference at 11am; Welcome from Dallas Mayor Mike Rawlings; USCM President Sacramento Mayor Kevin Johnson's Inaugural Address; Climate Protection Awards for Winning Cities; Women's Mayors Meeting; Special Session on Education Excellence w/ Oklahoma City Mayor Mick Cornett, Louisville Mayor Greg Fischer, Tacoma (WA) Mayor Marilyn Strickland, Indianapolis Mayor Greg Ballard, Cleveland Mayor Frank Jackson; Breakout Sessions Led by Baltimore Mayor Stephanie Rawlings-Blake, Indianapolis Mayor Greg Ballard, Columbus Mayor Michael Coleman, Denver Mayor Michael Hancock w/ James Shelton, U.S. Education Dep. Sec re My Brother's Keeper Initiative, Houston Mayor Annise Parker, San Francisco Mayor Ed Lee, Green Bay (WI) Mayor James Schmitt, Phoenix Mayor Greg Stanton, Louisville Mayor Greg Fischer
Saturday, June 21 – Session on Building an Early Learning Nation w/ Education Sec. Arne Duncan, Jackie Bezos, Denver Mayor Michael Hancock, Seattle Mayor Ed Murray and USCM President Johnson; Citi Exec. V.P. for Global Public Affairs & fmr NYC Deputy Mayor Edward Skyler; Boston Mayor Martin Walsh; City Livability Awards for Innovation; Panel Discussion on Transportation with Atlanta Mayor Kasim Reed, Los Angeles Mayor Eric Garcetti and U.S. Representative Eddie Bernice Johnson; National Anti-Bullying Initiative to be Announced; Special Session on Veterans' Services; Breakout Sessions Led by Newton (MA) Mayor Setti Warren, Gresham (OR) Mayor Shane Bemis, Pembroke Pines (FL) Mayor Frank Ortis, Atlanta Mayor Kasim Reed and New Orleans Mayor Mitch Landrieu
Sunday, June 22 – Maria Shriver to Discuss The Shriver Report; Interactive Discussion on Climate Protection with EPA Administrator Gina McCarthy and Energy Sec. Ernest Moniz, Bridgeport (CT) Mayor Bill Finch & mayors; New York City Mayor Bill de Blasio; Breakout Sessions Led by Kansas City (MO) Mayor Sly James & Burnsville, (MN) Mayor Elizabeth Kautz, Columbia (SC) Mayor Steve Benjamin & Dubuque (IA) Mayor Roy Buol, Fresno (CA) Mayor Ashley Swearengin, Madison (WI) Mayor Paul Soglin, Lansing (MI) Mayor Virg Bernero, Memphis Mayor A.C. Wharton & Santa Barbara Mayor Helene Schneider, Rochester (MN) Mayor Ardell Brede & Sumter (SC) Mayor Joseph McElveen, Laredo (TX) Mayor Raul Salinas & Anaheim (CA) Mayor Tom Tait, Carmel (IN) Mayor Jim Brainard & Bridgeport (CT) Mayor Bill Finch and Orlando Mayor Buddy Dyer
Monday, June 23 – Special Session on Sports, Race and Politics featuring NBA All-Time Leading Scorer Kareem Abdul-Jabbar, Sacramento Kings Principal Owner Vivek Ranadive, Philadelphia Mayor Michael Nutter, Indianapolis Mayor Greg Ballard, Journalist, TV Host and Author Roland Martin, a current NBA Player/Coach TBA and USCM President Sacramento Mayor Kevin Johnson; Google's Get Your Business Online City Challenge Awards; Business Session to Debate/Vote on Policy Resolutions by Conference General Body; Breakout Sessions Led by Jacksonville (FL) Mayor Alvin Brown, Oklahoma City (OK) Mayor Mick Cornett
About The United States Conference of Mayors -- The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors.
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