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Nearly half of local economy tied to financial services


Greater Des Moines’ financial sector accounts for a bigger portion of its gross metropolitan product (GMP) than that sector does in any other U.S. market, according to an analysis by The Business Journals.

The financial sector – banking and financial services – generated $18.36 billion in economic activity, or 46.5 percent of Greater Des Moines’ GMP in 2010, based on a review of data from the Bureau of Economic Analysis of 351 metropolitan areas.

By comparison, Sioux Falls, S.D., and Bridgeport/Stamford, Conn., had the second- and third-highest financial sector activity, at 44.1 and 40.3 percent of GMP, respectively.

Collective figures for all 351 markets show the financial sector generated $2.84 trillion of their total GMP of $12.64 trillion, or 22.5 percent. To view the rankings, click here.

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