JAX’ Economic Snapshot at Year-End 2014
Metro JAX is growing and healthy and diverse. From an article by Robert Ward of the JAX Business Journal, a few highlights:
- Metro JAX’ population has grown 24% from 2000 to 2013, to a population of 1.39 million.
- Gross domestic product of $62.1B for 2013, 25% more than in 2004.
- No.1 ranking in port containers in FL among the state’s 15 seaports with 1.029M containers (2012/13)
- 24.2M tons of cargo handled at the local ports, No.2 in the state
- 22 Cities served by JIA with nonstop flights
- Cost of living at 98.4, 1.6% less than the national average/index
- Housing starts in the 5k range, double that of 2009, 2010 and 2011, but still a healthy 40% less than in 2004 and 2005.
- Job growth in 2013 at 14,808, slightly behind 15,800 in 2012 but substantially better than negative figures in 2008, 2009 and 2010.
- Unemployment rate of 6.9%, 400 bps less than in 2010.
- Diverse employment base with Trade/Transportation/Utilities leading (21% of total jobs), followed by Professional and Business Services (16%), Education and Health Services (14%), Leisure and Hospitality (13%), Government (12%), Financial (10%) and Goods/Manufacturing (10%).
- A median household income of $51,495, behind Atlanta ($56k), but ahead of Charlotte ($51k), Orlando ($47k), Miami ($46k) and Tampa ($46k).