The three “S” cities: San Jose, San Francisco, Seattle.
These house more than the headquarters of the world’s largest technology companies… they are also some of the most productive hubs in the U.S. economy.
The Seattle-area is home to some of the largest public companies in the country, as well as a bevy of smaller, but fast-growing businesses. That helped propel Seattle to No. 4 on a Bloomberg list of the richest cities in the U.S. The news organization analyzed Bureau of Economic Analysis data on the 100-largest metropolitan areas, and looked at the gross metropolitan product for each city.
Bloomberg cited Amazon and other growing Seattle companies as the reason for the city’s prosperity. Tech cities outside the Bay Area have also benefited from the industry’s boom. Helped by not only Amazon Inc. but also newer Internet companies like Zulily Inc., Seattle’s GMP per capita grew by a cumulative 7.9 percent since 2009, when the economic recovery began. That helped the Washington city catapult to No. 4 from its No. 6 spot in 2008 through 2011.
Seattle’s GMP has grown by 7.9 percent since 2009 having a GMP of $75,874 per resident, putting it just above Boston at $74,746. Washington D.C. is at $72,191.
The San Jose, California metro area had the highest output per resident for 2014, according to a Bloomberg analysis of U.S. Bureau of Economic Analysis data for the 100 largest metropolitan areas. Gross metropolitan product (GMP) per capita in the Silicon Valley epicenter was $105,482, more than double the national average. Bridgeport, Connecticut ranked second at $94,349. San Francisco, Seattle and Boston followed.