Metro areas in the U.S. with a stable population are proving growth is not the path to prosperity. Eben Fodor, community planning consultant and author of Better, Not Bigger, has just released a study comparing the fastest-growing metro areas of the U.S. with the slowest-growing, to test conventional wisdom that cities benefit from growth. This study ought to put the final nail in the coffin of the “grow or die” myth that misinforms public policies in many cities. Unfortunately, in most areas this myth is very much alive and well.
According to Fodor, “The slowest-growing MSAs (Metropolitan Statistical Areas) outperformed the fastest-growing in every category. The 25 slowest-growing MSAs averaged almost 1% lower unemployment rates, 2.4% lower poverty rates, and a remarkable $8,455 more in per capita personal income in 2009. They also had larger income gains from 2000 to 2009 and saw significantly lower declines in income from the recession (2007-09). “