Regional economies in rebound mode

The Gulf Coast economy could run like a spigot the rest of 2014.

That's the word from the United States Conference of Mayors and the Council on Metro Economies and the New American City. The conference and the council recently released a report, prepared by data firms IHS and Global Insight, that analyzed the growth rate in Gross Metropolitan Product in 363 metro areas nationwide. GMP, similar to gross domestic product, is the value of all goods and services produced in an area over one year.

A GMP expansion rate of 3% is considered solid economic growth. Florida and the Gulf Coast have plenty of regions that fall into that category — especially in 2014 projections. The Naples-Marco Island area, for one, has a projected increase of 6.3% this year. That's the highest growth rate projection in the country, the report shows, and more than 1% over the runner-up region for projected growth, Kokomo, Ind., at 5%.

The North Port-Bradenton-Sarasota region is the next best on the Gulf Coast, with a projected GMP increase of 3% this year. Even Punta Gorda, with a GMP decrease of -3.8% in 2012 and -1.2% in 2013, is projected to have an increase this year. The region, in Charlotte County, is expected to grow 2.7% in 2014.

Outside of 2014 projections, the top 10 nationwide overall in highest growth rate for 2013 reads like an oilman 's boomtown guide. Top performers there include Midland and Odessa, Texas; Bismarck, N.D.; Fargo, N.D.-Minn; and Sioux Falls, S.D. The growth rate in Odessa stands out even among those peers, the report shows, with a 17.1% climb in 2011, 14.1% gain in 2012 and 6.7% jump last year. Regions in the bottom 10 for 2013 include Shreveport-Bossier City, La.; Decatur, Ill.; Yuma, Ariz.; and Binghamton, N. Y.

Here's a glance at how the Gulf Coast metro areas have fared the last three years in GMP: