Nashville has one of the fastest growing economies in the nation, trailing only that of Austin, according to a report IHS Global Insight prepared for the United States Conference of Mayors.
Nashville’s Gross Metropolitan Product grew by 4.2 percent in 2013, twice as fast as the national average of 2.1 percent. GMP measures the value of all goods and services produced in a metropolitan area. Nashville’s growth rate matched that of San Jose, California, Austin’s GMP grew by 4.6 percent, the fastest in the nation.
With a total value of $96.3 billion, Nashville’s GMP ranks 35th in the nation and is expected to pass $100 billion this year.
According to the report, 33 U.S. cities had a GMP of $100 billion or more last year. They were led by New York, with an economy valued at $1.4 trillion, the report notes.