View Mobile Site

Area’s GDP ranks 59th in US

Gainesville on par with San Francisco, other large cities

POSTED: March 5, 2013 11:30 p.m.

Gainesville-Hall County is on par with San Francisco in at least one respect: They both had the same percentage growth in real gross domestic product in 2011.

Gainesville-Hall ranked 59th out of the nation’s 366 metropolitan areas on the inflation-adjusted growth of its GDP between 2010 and 2011, according to a Feb. 22 report by the U.S. Department of Commerce’s Bureau of Economic Analysis.

“I would expect that through our concentration of professional, logistic and health care services for the entire Northeast Georgia region, as well as the strong presence of goods producing in this community, that we would do very well in terms of (GDP),” said Tim Evans, the Greater Hall Chamber of Commerce’s vice president of economic development.

“We have a lot of high value-added businesses in Hall County that serve a much larger region.”

In addition to the City by the Bay, Gainesville-Hall, with a 2.6 percent growth, also ranked the same as State College, Pa.; Ogden-Clearfield, Utah; Hartford, Conn.; Des Moines, Iowa; and Youngstown-Warren-Boardman, Ohio-Pa.

Among Georgia cities, it bested all but Columbus and Hinesville-Fort Stewart, which were ranked 27th and seventh, respectively.

Atlanta-Sandy Springs-Marietta, which ranked 85th, showed 2.2 percent growth, according to the report.

The Bureau of Economic Analysis report states that real GDP increased in 242 of the 366 metro areas in 2011, led by growth in professional and business services, durable goods manufacturing and trade.

“Strong contributions from (the durable goods) industry fueled growth in many small metropolitan areas, where production of these goods constitutes a large portion of the area’s economy,” the report states.

Overall, real GDP in metropolitan areas increased 1.6 percent in 2011 after increasing 3.1 percent in 2010.

Gainesville-Hall showed an inflation-adjusted GDP of $5.78 billion in 2011, up from 2010’s $5.63 billion but still down from $5.8 billion in 2008, or just before the start of the Great Recession.

The area’s GDP dropped to $5.37 billion, or by 7.9 percent, in 2009. The next year’s increase to $5.63 billion was 5 percent.

Phil Sutton, chief administrative officer for Kubota Manufacturing of America Corp., said he is optimistic about future growth.

“But it’s been a slow trend back upward to where we were in 2008,” said Sutton, whose company was named large industry of the year in Gainesville-Hall at a recognition ceremony in January.

Nationally, two Texas cities held the top spots for GDP growth — Odessa at No. 1, with 15.2 percent, and Midland at No. 2, with 9.5 percent.

Sioux City, Iowa, checked in at 366th, with a drop in GDP by 5.2 percent.


Contents of this site are © Copyright 2010 The Times, Gainesville, GA. All rights reserved. Privacy policy and Terms of service

Powered by
Morris Technology
Please wait ...