AUSTIN -- The word is out, Texas is among the hottest economies in the nation, and Austin may soon reach the $100 billion mark before the end of 2013.
A report out on Tuesday from the U.S. Bureau of Economic Analysis shows some of the top ten areas with the largest growth -- are here in the Lone Star State.
The Austin economy is set to soar past the $100 billion mark before the end of 2013. This would be a first for Central Texas. Most of the growth can be attributed to an increase in local gross domestic product -- in 2012, that year-end total was $98.7 billion.
The report says 305 of the nation’s 381 metropolitan areas saw real growth in their GDP. Growth in metropolitan areas showed an increase of 2.5 percent in 2012. In 2011 that growth increased by 1.7 percent.
The Houston area saw a 5.3 percent increase in GDP growth -- while Dallas saw a 4.3 percent increase.
Laredo, San Angelo, Longview and Corpus Christi all saw growth in the industrial sectors. Odessa, Texas saw a 3.1 percent increase in trade -- attributed to the wholesale and retail sectors.