The Atlanta Free Market economy, according to a new report, is “a highly competitive and competitively rewarding enterprise.”
The study, released Wednesday by the Atlanta-based Center for Economic Growth, says the market is “on track to have the fastest growth in business-based economic activity of any metropolitan area.”
The new study estimates the metro area’s economy will be worth $18.4 billion by 2020.
The report is based on new data from the Atlanta Metropolitan Government’s annual census, which provides a snapshot of the economy.
It projects a $3.6 billion surplus in 2019-20, up from a projected $3 billion deficit in 2018-19.
The economy will grow $2.4 trillion over the next 30 years.
A few key findings:The Atlanta metro area is forecast to grow $5.5 billion in 2019, the fastest pace in the nation.
The metro area will grow an estimated $3,300 per capita in 2019.
That is about $10 a day higher than the national average.
The region is projected to grow another $5,800 per capita by 2026.
The Atlanta region has the nation’s second-highest percentage of households that earn less than $25,000 per year, according the report.
That’s up from the metro areas 10th highest share in 2016.
The metro area also has the country’s lowest average income.
In fact, the report projects the region’s economic growth will slow as the economy ages.
According to the report, the metro region will be a net negative net contributor to its budget by 2032.
The report also notes that the region has an underfunded workforce and a high unemployment rate.
It said the region is likely to need $1.9 billion in state and federal aid over the coming decades to pay for the jobs that will be lost to automation and robotics.