It’s no secret that the Southeast and Western United States are booming. The costs of living and doing business there are often cheaper there than in big coastal cities. But where and how much those cities are thriving might surprise you.
Take Alabama. The state has some of the fastest growing metro areas in the country, including Mobile, which is projected to have the greatest change in “gross metropolitan product (GMP),” 34% between 2007-2012, according to research forecasts done for us by Moody’s Economy.com.
One boon to Alabama is ThyssenKrupp’s announcement last year to build a $3.7 billion steel plant in Mobile. And Huntsville–expected GMP growth 15% by 2012–has long been a hub for defense and space research. Since the mid-1990s, Alabama has also become a manufacturing center for automakers like DaimlerChrysler, Toyota and Hyundai.
“The automotive industry has been Alabama’s real growth industry in the last 15 years,” says Brian Hilson, president and CEO of Huntsville’s chamber of commerce.
Source: Yahoo Real Estate
