$100 Billion "Profound Economic Shift" Has Reshaped Southern US

Thank you for a

Flood of transplants during pandemic

Six southern states have seen a growth in

Breakneck speed

As approximately

100 billion dollars in new revenue in 2020 and 2021

The southern US has begun to change.

Jacksonville, FL

Florida, Texas Georgia, Carolinas, and Tennessee

The Northeast now contributes more to GDP than the Northeast

According to the OECD, this equates to a loss of about $60 billion over the same period.

Bloomberg

Citing government figures dating back to the 1990s.

"

The switch was made during the pandemic, and there are no signs that it will be reversed

" Write

Bloomberg

Michael Sasso, Alexandre Tanzi

From early 2020

The Southeast has accounted more than two thirds of the job growth in the US

It has nearly doubled its share from before the pandemic and is now home to

Ten of the fastest growing large cities in America

.

As regular readers

Already know

,

Corporations have also been flocking towards the

Southern US

The cost of living is lower and the quality of life is higher in.

Dun & Broadstreet was founded in 182 and had its headquarters until recently, Short Hills, New Jersey.

Jacksonville, Florida is moving to 2021

• to be eligible for a $100,000,000 package of tax and cash incentives. D&B's CFO Bryan Hipsher said

Bloomberg

The company would have happily stayed in New York, but Florida's offer was too tempting to turn down.

You must be feeling very wanted. Hipsher said to the outlet. "You clearly feel welcomed," Hipsher told the outlet.

Average annual salaries here are $77,000, which is 25% higher than the national average.

The salaries are far above the average of most locals. Despite this, some roles are paid at a rate that is about 15% lower than the average salary of the former New Jersey headquarters.

Jacksonville has grown so quickly that it is now a city of 500,000 people.

The surpassed

San Jose population in last year.

Hipsher explained that good schools such as the University of Florida, which is only an hour and half away, are important in attracting high-quality employees. The firm is still hiring today -- it's just a little under halfway to its 500-person goal. -Bloomberg

Meanwhile,

The Mayo Clinic Jacksonville branch has grown along with the city

The area will be able to accommodate 9,000 employees with the construction of a new building for oncology and the addition 2,400 workers.

Over the last two years, 2.2 million people have moved to Florida and the Southeast.

.

Mark Vitner is a retired economist from Wells Fargo and now runs his own economic consulting firm, Piedmont Crescent Capital in Charlotte, North Carolina.

JPMorgan Chase CEO Jamie Dimon

Bloomberg TV reports that the company has more employees now in Texas than New York State. "It shouldn't have happened like this," says Bloomberg TV.

Then, there is the

South Atlantic Coast is concerned

Charleston, SC is included.

Signs of explosive growth continue

.

Beth Woods, 47, moved from Mount Olive NJ, to Mount Pleasant, a Charleston suburb, during the pandemic.

Life is better than ever

now.

You could do your nails, get your hair done and basically live your own life. "And it also has lower property tax here," she said.

Rosemary Taibi, 59, agreed. She made her husband drop their property tax by

$14,000.

Moving from Randolph, New Jersey

She said, "It makes a huge difference."

It has a major political impact as well

.

For now, the more people there are in America, the more seats in Congress and political power we have on a national level.

In the last five decades, 12 Southeast states, including Texas, have collectively gained 33 additional congressional seats. This is roughly the number of seats that the Northeast and Midwest lost during the same time period.

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Southerners are now in charge of 11 out of 21 important committees within the US House

Bloomberg Government has conducted an analysis.

In 2022, Republican governors in Florida, Georgia, and Texas defeated their nationally-known Democratic opponents, dealing a major blow to Democrats

It was hoped that the more diverse population moving south would make the region, if it wasn't already blue, at least purple. It may happen in the long run because changing politics in large states like Florida and Texas takes 10 to 20 years. -Bloomberg

Gimpel says it's not surprising that many of the top GOP candidates live in the South, including Donald Trump and Ron DeSantis.

Steven Hertzberg is a tech entrepreneur who hails from Sonoma County in California. He's in heaven in St. Johns County in Florida.

Just drive around the neighborhood. "It feels like you are in Disneyland," said he. You see teenagers flying around in electric scooters and golf carts.

See how long it lasts...