In this East Coast vs. West Coast battle, it looks like the West Coast is winning.
Story by Molly Brown -
According to a review of data from the U.S. Bureau of Economic Analysis, Bloomberg found that the tech boom is shifting the richest cities in America to the West Coast. Three out of the top five land here with San Jose topping the charts.
Bridgeport, Conn., an ultra-wealthy suburb outside New York City where many in finance live, comes in No. 2, but San Francisco and Seattle follow, with Boston rounding out the top five.
Bloomberg looked at the nation’s 100 largest metro areas to crunch the numbers to see which city had the “highest output per resident” in 2014.
Apparently, tech is the new gold rush, with the gross metropolitan product, or GMP per capita in Silicon Valley at $105,482 — which Bloomberg cites is “more than double the national average.”
Seattle’s GMP came in at $75,874, but our neighbor to the south, Portland, is also seeing a large jump.
