Austin, Atlanta Give ‘Middleweight’ U.S. Cities Global Punch

Bloomberg reports:

Mid-size U.S. cities such as Austin, Texas, and Atlanta will join New York and Los Angeles to drive more than 10 percent of the world’s growth from now to 2025, McKinsey Global Institute said in a report.

Home to almost 70 percent of the U.S. population, so-called middleweight cities generated more than 70 percent of the nation’s gross domestic product, about 20 percentage points more than Western Europe’s 183 cities of similar size, according to McKinsey, the international consulting firm.

“The extent to which the middleweight cities contribute to the strength of U.S. economic clout was surprising,” Jaana Remes, a senior fellow of the institute who helped write the report, said in an interview. “It’s really these cities and their high per-capita income that drive U.S. economic strength.”

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