Elkhart-Goshen GDP Growth Among Nation's Highest

Posted: Updated:
(Graphic courtesy of the U.S. Bureau of Economic Analysis) (Graphic courtesy of the U.S. Bureau of Economic Analysis)
WASHINGTON, D.C. -

Recently-released figures show the Elkhart-Goshen metropolitan area is one of the fastest-growing in terms of Gross Domestic Product in the country. The Bureau of Economic Analysis says the Elkhart-Goshen metro area notched a $15.5 billion annual GDP in 2016, compared to a 2015 figure of $14.4 billion. In an interview with Inside INdiana Business Television last month, Greater Elkhart Chamber of Commerce Chief Executive Officer Kyle Hannon said the surging recreational vehicle industry is fueling economic growth.

The BEA says GDP grew in 40 of the Great Lakes Region's 55 MSAs last year. Out of the 15 MSAs that include Indiana communities, all but three -- Evansville, Terre Haute and Columbus -- show increases year-over-year.

The highest Real GDP growth by metropolitan area in the country was 8.1 percent in Lake Charles, Louisiana and Bend-Redmond, Oregon. The percent of GDP change in the Odessa, Texas MSA had the largest reported decrease of 13.3 percent.

Metro areas that are located in all or part of Indiana include:

(National MSA Rank)  |  MSA Name  |  2016 GDP Figures  |  2015 GDP Figures

  • 3. Chicago-Naperville-Elgin (and parts of northwest Indiana) - $651.2 billion | $635 billion
  • 26. Indianapolis-Carmel-Anderson - $135.4 billion | $130.1 billion
  • 28. Cincinnati (and parts of southeast Indiana and northern Kentucky) - $132 billion | $126.6 billion
  • 46. Louisville (and parts of southeast Indiana) - $75 billion | $71.8 billion
  • 115. Fort Wayne - $20.9 billion | $20.4 billion
  • 143. Evansville - $16.9 billion | $17.1 billion
  • 154. Elkhart-Goshen - $15.5 billion | $14.4 billion
  • 163. South Bend-Mishawaka - $14.1 billion | $13.5 billion
  • 201. Lafayette-West Lafayette - $10 billion | $9.7 billion
  • 250. Bloomington - $6.9 billion | $6.7 billion
  • 262. Terre Haute - $6.2 billion | $6.3 billion
  • 287. Columbus - $5.7 billion | $5.8 billion
  • 329. Kokomo - $4.7 billion | $4.69 billion
  • 357. Michigan City-LaPorte - $3.83 billion | $3.82 billion
  • 360. Muncie - $3.765 billion | $3.763 billion

You can connect to the full regional and MSA GDP numbers by clicking here.

Editor's Note: A previous version of the story mistakenly used "millions" instead of "billions."

  • Perspectives

    • Focused Collaboration Leads to Effective STEM Leadership

      As a woman who has built a career in a STEM field, technology, I have come to realize that collaboration is an essential ingredient for organizational growth and survival. As my year serving as president for Women & Hi Tech comes to an end, one of the most impactful takeaways for me has been how a shared vision and strategic partnerships can help change the landscape for women studying science, technology, engineering or math in Indiana.

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Walmart Details Crawfordsville Layoffs

      Walmart Inc. (NYSE: WMT) has announced plans to reduce its workforce at the Walmart Optical Lab in Crawfordsville. In a notice to the state, the company did not provide a reason for the reduction, but said 108 employees will be out of work by the end of September.

    • Indy Tech Vet to Lead DePauw Center

      DePauw University has tapped an Indianapolis tech veteran to become a part of its leadership team. Steve Fouty, who most recently served as chief financial officer of ClusterTruck in Indy, has been named director of the McDermond Center for Management and Entrepreneurship on the Greencastle campus.

    • Airports in Indiana Secure FAA Grants

      Seven Hoosier airports and the Indiana Department of Transportation have received support for projects from the Federal Aviation Administration. Funding through the Airport Improvement Program will be used for infrastructure work including runways, terminals and firefighting and snow removal equipment. Nearly $660 million was distributed throughout the country in the most recent cycle.

    • Study: Hoosier Graduation Rates Continue to Rise

      A new report from the Indiana Commission for Higher Education says graduation rates among Hoosier college students are higher than ever. The 2018 College Completion Report says 38.5 percent of students graduated on time, up 4 percent from the previous year and nearly 14 percent over the past five years.

    • Caesars now owns Indiana Grand in Shelbyville and Hoosier Park in Anderson.

      Acquisition of Indiana Racinos Complete

      Las Vegas-based Caesars Entertainment Corp. (Nasdaq: CZR) has completed its $1.7 billion acquisition of Centaur Holdings LLC in Indianapolis. The deal adds Hoosier Park Racing and Casino in Anderson and Indiana Grand Racing and Casino in Shelbyville to Caesars' portfolio. The company says it will invest $50 million into various property improvements and IT upgrades at both facilities. Caesars says it plans to add table games to both properties, pending necessary approvals.