Providence metro ranked among world's largest 200 economies

The Brookings Institution released a recent survey of the world's 200 largest metro economies, and Providence metro region was ranked 102nd among those economies.

The study http://www.brookings.edu/~/media/Files/rc/reports/2012/0118_global_metro_monitor/0118_global_metro_monitor.pdf was reported in today's Providence Business News, and is available on the Brookings website, in its Global Metro Monitor 2011 study. Important findings show 90-percent of the fastest-growing economies were located otuside of North America and Western Europe. The study factored in per capita (income) and employment.

"2011 marked the latest year in a volatile global economy," the fourth of "global economic turmoil," the report noted. The impact was reflected in the "distinct experiences" of these metro economies. Many - including Providence metro region - despite the slow recovery have been making a resurgence in market trade and production.

The report underscored the importance of locating in these metropolitan areas, with "large labor markets, public infrastructure and deep pools of customers." Interestingly, their study shows that Providence under-performed expectatons for the nation and the industry but over-performed in income within the metro area.

Authors of the report urged leaders to focus resources to these "micro" assets to these metro areas that "account for fully half of the global economy" through clusters of firms, infrastructure to support trade flows and institutions providing skilled and adaptable labor forces."