This report examines the economic and demographic trends in Louisville, highlighting the city's struggles in key areas compared to its peer cities. Despite being a major metropolitan hub in the U.S., Louisville faces several challenges that have hindered its growth and development.
Louisville's population growth has been sluggish, with many younger and more educated individuals moving to cities with stronger economic opportunities, such as Nashville, Indianapolis, and Charlotte. The city's demographic makeup shows an aging population, which poses long-term challenges for its labor force and social services. Louisville also faces challenges with racial and economic segregation, affecting access to education, healthcare, and employment opportunities.
Louisville's economy has grown at a slower pace than comparable cities. While peer cities have seen stronger job creation, Louisville's employment growth lags behind. Key sectors such as manufacturing, healthcare, and logistics, which have traditionally driven the city's economy, have not diversified enough to keep up with emerging industries. Additionally, wage growth in Louisville has not kept pace with neighboring wages, leading to stagnant living standards for many residents.
In 1974,
Louisvillians lamented at the comparison to Atlanta and their recent economic boom. “in recent years they have seemed preoccupied, to a degree that might be called defensive, by comparisons with Atlanta. They like to point out that they think the bloom is off the capital city of Georgia.” p42.
In 1950, ATL was 116% the size of Louisville by 1974, ATL was 180% (80% larger) by 2020, ATL was 473% (373% larger)
The same can be said to compare to Nashville In 1950, Nashville was 55.7% the size of Louisville (Louisville was 2x larger) by 1974, Nashville was 74.5% by 2020, Nashville was 156.6% (56% larger)
And what about Austin In 1950, Austin was 27.8% the size of Louisville (Louisville 4x larger) by 1974, Austin was 42.2% the size of Louisville (Louisville 2.5x larger) by 2020, Austin was 177.7% (77% larger)
And what about Indy In 1950, Indianapolis was 95.7% the size of Louisville by 1974, Indianapolis was 136% (36% larger) by 2020, Indianapolis was 164% (64% larger)
I sometimes hear that we can be where Nashville or Indianapolis are today in 10 years. But looking at these trends we’re moving in the wrong directions and catching up is not a matter of pronouncements but significant sustained actionability.
I would say it would be a significant achievement if we get to where Nashville is today in 30 years.
https://kycombinator-public.s3.us-east-1.amazonaws.com/population_relative_animation.html
https://kycombinator-public.s3.us-east-1.amazonaws.com/median_income_relative_animation.html
https://kycombinator-public.s3.us-east-1.amazonaws.com/total_income_relative_animation_no_ny.html