US EditionA $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South
- Electric-Vehicle factories and battery plants are increasingly replacing pine forests in the Atlantic coast region from Charleston to northern Florida, signifying a significant economic shift in the US, particularly in the South.
- The southern US, including states like Kentucky and Texas, is witnessing a surge in businesses moving, job creation, and home purchases.
- However, this economic uplift is not evenly distributed, indicating regional disparities in economic growth and opportunities within the New New South.
4 Articles
4 Articles
A $100 Billion Wealth Migration
Bloomberg: “The entire South, stretching from Florida north to Kentucky and west to Texas, is where businesses are moving to, jobs are being created and homes are being bought. The uplift isn’t happening equally everywhere, or equally for everyone. But the implications for the entire country are enormous.” “The numbers tell the story. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee …
A $100 Billion Wealth Migration Tilts US Economy Southward
Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston. For the first time, six fast-growing states in the South — Florida, Texas, Georgia, the Carolinas and Tennessee — are contributing more to the national GDP than the Northeast in government figures going back to the 1990s. The switch happened during the pandemic and shows no signs of reverting.
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