Fast-Growing States Drive $100 Billion Wealth Migration and Economic Shift

Money MattersSales
Written By Jennifer Joslyn

Six fast-growing states in the South, including Florida, Texas, Georgia, the Carolinas, and Tennessee, are now contributing more to the national GDP than the Northeast, according to Bloomberg. This shift in economic power reflects a "$100 billion wealth migration" to the South, driven by a surge of transplants and accelerated by the COVID-19 pandemic. As Americans continue to spread out both physically and economically, the South's prominence in terms of population growth and economic activity is expected to persist.

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Jennifer Joslyn
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