While the Bay Area took the top spot, the report warned about the future.
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The San Francisco Bay Area led the country in economic growth in 2022, with a 4.8% increase in GDP, according to a newto thank, not surprisingly, the report said, and the COVID-19 pandemic especially helped companies that facilitate remote work, like San Jose-based Zoom. The assessment is based on “extended metropolitan areas,” or EMAs, which isn’t a concept unfamiliar to Bay Area residents, though its definition reaches far beyond the nine Bay Area counties typically included when people talk about the region. Stockton, Merced, Modesto, San Benito County and Santa Cruz County were all included in the think tank’s categorization of Bay Area.
As a comparison, the New York EMA, which is the largest area by population, is made up of not just parts of New York, New Jersey and Connecticut, but also Pennsylvania, since some adjacent towns are tied to New York’s economic activity, the report says. The San Francisco Bay Area region analyzed had a population of 9.7 million in 2020, the fifth largest EMA in the country.
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