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Iowa City Projected to Lead State in GMP Growth

IC MSA also Among Top US Cities for Job Opportunities

 

(Iowa City) – According to a recent study, Iowa City was ranked at the top among Iowa metros for projected gross metropolitan product (GMP) in 2014, measuring the economic output of a region. For Iowa City, GMP growth in 2014 is projected to be 2.4%. This data was released by the United States Conference of Mayors in their “US Metro Economies” study, featuring research from IHS Global Insight.

Kokomo, Indiana, led all metros with 4.7% projected GMP growth. In Iowa, Des Moines, Ames and Sioux City were ranked just below Iowa City. Waterloo/Cedar Falls was projected at 1.7% and Cedar Rapids at 1.2%.

Mark Nolte, ICAD Group President, cites the metro’s industry mix and stability as contributing factors to this projection. “The diversity and innovation throughout our interstate commerce companies helped us endure the recession and be a leader in the post-downturn economy,” said Nolte. “Many people are familiar with the education and health sectors that contribute to our economic output, but our metro is comprised of a robust assortment that also includes consumer goods manufacturing, insurance and professional services, and bio and information technology.”

One of the more interesting comparisons noted in the “US Metro Economies” study is comparison of metro, state, and country GMPs. For example, Iowa’s City’s total GMP is higher than that of the Bahamas, Liechtenstein and the US Virgin Islands.

New York, Los Angeles and Chicago were the top three metros in GMP.

The Iowa City MSA was also ranked among the top cities in Iowa and across the nation for jobs. The most recent report, “Beyond.com’s Q4 2013 Career Trends Report,” lists Iowa City as a Top 25 community among metros with the most job opportunities per capita. Both Des Moines (4) and Sioux City (7) are in the Top 10, with Cedar Rapids, Iowa City, and Ames in the Top 25.

“According to the feedback we are getting from our interstate commerce employers, hiring will remain strong,” added Nolte. “Our biggest challenge is building the pipeline of talented workers to allow our companies to continue their innovation and growth.”

Beyond.com's Q4 2013 Career Trends Report compared employment data and Bureau of Labor Statistics Civilian Labor Numbers for a set time period to evaluate the best places for job opportunities and the best places for companies to find workforce.

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