Area counties’ GDPs have been released. Some counties’ GDPs have gone up and some have gone down.
The Bureau of Economic Analysis recently released it’s County by County Gross Domestic Product, or GDP, information for the years 2015 through 2018.
GDP is the value of the goods and services produced in a year, measured either in current dollars or adjusted for inflation. When a GDP is high, it means that the county is increasing the amount of production that is taking place and that the citizens have a higher income, which causes them to spend more.
Dubois County’s GDP has increased in the past few years, despite a slight decrease in one year.
For the year of 2015, Dubois County had a GDP of about $2.6 billion. In 2016, Dubois County decreased to a $2.5 billion GDP. When 2017 rolled around, Dubois County raised to a $2.57 billion GDP. Finally, Dubois County closed out 2018 with a $2.61 billion GDP. This means that Dubois County’s GDP has increased over the four years.
At the end of 2018, Dubois County ranked 25th in the state for overall GDP.
Spencer County’s GDP has fallen over the past few years.
For the year of 2015, Spencer County had a GDP of about $1.17 billion. In 2016, Spencer County stayed in the same area of a $1.17 billion GDP. When 2017 rolled around, Spencer County raised slightly to a $1.18 billion GDP. Finally, Spencer County closed out 2018 with a $1.14 billion GDP. This means that Spencer County’s GDP has decreased over the four years.
At the end of 2018, Spencer County ranked 53rd in the state for overall GDP.
Martin County’s GDP has increased the past few years, taking big leaps in 2017 and 2018.
For the year of 2015, Martin County had a GDP of about $924 million. In 2016, Martin County increased to a $933 million GDP. When 2017 rolled around, Martin County raised to a $987 million GDP. Finally, Martin County closed out 2018 with a $1.02 billion GDP. This means that Martin County’s GDP has increased over the four years.
At the end of 2018, Martin County ranked 56th in the state for overall GDP.
