This region’s slow economic growth since 2010, it ranks 15th out of the largest 15 metros, has been compounded by a weak mix of new jobs favoring lower-value added occupations. This, in turn, has resulted in the Washington region having the slowest personal income growth of any of the top 15 metropolitan areas, and still the region ranks third for its high cost of living and second of its high rental costs; these are 69% above the U.S. average. No wonder that population growth has slowed and the region has experienced net domestic outmigration for three consecutive years. On top of this the region continues to rank at the top or near the top for traffic congestion and time spent in commuting. The Region’s brand has been tarnished by its decline in its rankings as compared to its peers. The evidence is growing that the time is now to start re-branding the region based on its ample assets.
The Washington Region’s Declining Economic Brand
July 2017
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