The Kokomo Metropolitan Statistical Area (MSA) saw the largest increase in Gross Domestic Product (GDP) in the Great Lakes Region, according to a new report from the Bureau of Economic Analysis (BEA).
The Kokomo MSA experienced a upswing from -1.3 in 2014 to 3.0 in 2015, representing a 4.3 percentage point improvement. The BEA attributes the increase to growth in durable goods manufacturing.
In Indiana only three MSAs (Elkhart 3.7, Kokomo 3.0 and Muncie 2.5) matched or outperformed the average GDP growth (2.5%) in all metro areas for 2015.
“This is just another indicator that our local economy is headed in the right direction,” said Kokomo Mayor Greg Goodnight. “Our Metro is better than the state and national rates. It’s a good sign as we move forward.”
Gross Domestic Product by Metropolitan Area, 2015