Kokomo’s manufacturers continue to drive the city’s economy as one of the nation’s leading exporters.
According to Business Facilities’ Metro Rankings Report, the Kokomo Metropolitan Statistical Area (MSA) ranked sixth on its list of “Export Leaders.” Other Indiana MSAs in the top ten include Columbus, Elkhart and Lafayette.
The category measured exports as a percentage of Gross Domestic Production (GDP) - the value of all goods and services produced. Kokomo’s $1.4 billion worth of manufactured exports in 2014 amounted to 32.4 percent of its GDP.
“Kokomo’s continued economic expansion is no accident,” said Kokomo Mayor Greg Goodnight. “Our growth strategy for attracting private investments in our manufacturing sector is paying off with job growth and demand for products built here. Kokomo is a growing city, an export leader with a strong, productive workforce representing several advanced manufacturing companies.”
Kokomo’s leading manufacturers include Fiat Chrysler Automobiles, Haynes International, Delphi Electronics & Safety and General Motors, with each having a strong overseas market for its products.
In 2013 Kokomo’s GDP growth was second fastest in Indiana and strong enough to place it 82nd out of 381 MSAs.
In 2014, Fiat Chrysler Automobiles announced plans to invest $266 million in new manufacturing equipment to expand production of its 8-speed transmissions at two of its four Kokomo plants.
The company recently celebrated the one-millionth 8-speed transmission built and assembled in Kokomo.
Source: Business Facilities' 2015 Annual Rankings Report