Study: Exports Driving Growth in Dayton
A yearly study from Brookings and JPMorgan Chase shows exports are an important piece of the economic recovery in the Dayton region. The Export Nation 2013 report shows that exports grew about 7 percent each year from 2009 to 2012 in the greater Dayton area.
And that growth is making up for lag in domestic sales; overall sales of goods made in Dayton only grew by 1 percent per year during the same time, which means the city is leaning pretty hard on exported goods for economic recovery.
But the report also argues Dayton isn’t alone: it says exports are driving post-recession growth in most major cities, with 54 percent of output growth in the top 100 metro areas attributed to exported goods. Still, the metropolitan growth numbers for 2012 are behind the goals set by President Obama’s National Export Initiative in 2010 to double exports by 2015.
Nonetheless, most big cities have seen steady growth in real output numbers. The Dayton area sent $4.5 billion of goods and services to foreign countries in 2012, putting it in 41st place for growth among the 100 biggest cities. Motor vehicles, and motor vehicle and airplane parts were the biggest sellers, but Dayton’s output is fairly diversified and also includes financial services, IT services, and coal and petroleum products.