BROOKINGS 2019 METRO MONITOR REPORT: GRAND RAPIDS GROWTH
Contextualization and comparison are key steps in leveraging all of this data. With the wealth of knowledge readily available in this digital age, there’s no shortage of comparative studies available to determine how regions stack up to one another. Our research team identifies the highest quality comparative studies and analyzes them in order to gain a deeper understanding of what’s happening in our regional economy. While some rankings compare metros using a singular indicator (ex. total job growth), comparison studies that utilize a wider range of indicators are much more valuable. For this reason, our research and data team always looks forward to the release of Brookings Institution’s Annual Metro Monitor.
As a regional economic development organization for West Michigan, it is the responsibility of our research team to analyze both the strengths and weaknesses of the region’s economy. There are two ways we do this; the first is to evaluate our region’s performance, and the second is to leverage our regional economic data to contextualize and compare ourselves to others. To evaluate the region’s performance, we ask questions of the data, such as: Are quality jobs growing? Is our Gross Metropolitan Product (GMP) growing? What is the standard of living for our residents? Are all residents participating in the regional economic growth? Much of this data is then compiled and shared in The Right Place Data Center and the West Michigan Regional Dashboard.
The goal of the Metro Monitor is to deepen understanding of economic success by thinking beyond growth alone. The report more broadly evaluates the strengths and weaknesses of America’s metros, measuring them at a regional level to provide valuable insights into the parts that make up the whole of each state. This year’s edition of the Metro Monitor focuses on trends in Growth, Prosperity, and Inclusion (including race) for the 100 largest U.S. metro areas.
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DATACONOMY: BROOKINGS REPORT
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