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WIBC 9AM-Noon Podcast

Heart of the US economy moving south

WIBC 9AM-Noon Podcast

WIBC

News

4.61.2K Ratings

🗓️ 7 July 2023

⏱️ 3 minutes

🧾️ Download transcript

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Transcript

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0:00.0

Pat Sullivan here to remind you to stop putting screens on your gutters better to schedule a free

0:04.5

estimate with the local experts at gutter helmet. So you stay off the ladder. Visit gutterhelmetindie.com

0:10.4

with gutter helmet. You'll never clean your gutters again. gutterhelmetindie.com.

0:15.0

I want to mention this. The heart of the US economy is moving south. Six states in the Sunbelt now

0:21.6

contribute more to the national GDP than any place in the Northeast. Okay. So a lot of the wealth

0:28.5

migration is going to Florida, Texas, Georgia, North and South Carolina and Tennessee. They're

0:35.1

all outperforming Washington, New York, the entire Boston corridor. So the switch took place

0:41.6

during the pandemic, but it's not slowing down. So you've got two thirds of all job growth

0:47.2

in the country now concentrated in the Southeast. Now I would attribute a lot of this to the

0:52.8

no income tax in three out of these five states that were listed Tennessee, Florida and Texas.

0:59.9

But a lot of the workers going to the Sunbelt for better weather. Also more space after

1:06.7

everybody was cramped up in their tiny little expensive apartments in New York during lockdowns.

1:12.0

And you know, these southern states, they lifted lockdown measures faster. They were

1:16.8

luring people away and around 2.2 million people migrated to Florida and across the southeast

1:23.9

just in the past two years. There's a couple of Fortune 500 companies that are headquartered in

1:28.9

the South, AT&T, Dell, Tesla, CVS, Publix, Coca-Cola, Delta, Home Depot, Lowe's Bank of America,

1:36.8

Eastman, AutoZone and Exxon Mobile. And there's there's a cultural reason to this as well. We're

1:41.7

talking about the cramped tiny apartments. We were sold in the 90s in the Outs that kind of

1:47.1

the revivification of Dolly Parton's 9 to 5 where the cool thing to do is go to the big city

1:52.4

and you get into the big city and you work out of this tiny apartment and it's great and it

1:57.3

no, it smells like piss. It's a horrible big cities are horrible. I would sooner cut off both

2:02.4

of my legs than move into downtown Indianapolis again. You could not pay me. People don't like big

...

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