The Economic Growth Council reports economic prospects are up

Per to the Economic Growth Council, Grant County’s economic prospects are looking up. According to the Bureau of Economic Analysis’ (BEA) annual report, Grant County’s gross domestic product (GDP) rose by 11.17 percent between 2017 and 2018. Grant County was one of three counties statewide to see a double-digit increase in GDP. Grant County ended 2018 with a GDP of $4.276 billion. 

Grant County’s rising GDP has steadied the county’s fluctuating output in recent years. In 2016, the county saw a 12.3 percent GDP increase but a 14.7 percent decrease in 2017. This recent economic growth can be attributed to local businesses actively investing not only in their own facilities and equipment but in the community around them. Local businesses are expanding product lines, meeting market demands and deploying new growth strategies, therefore increasing productivity, sales, and hiring rates. 

Many businesses have contributed significantly to Grant County’s economic strength. Café Valley, a commercial bakery, came to Marion in 2014, creating 500 jobs initially, and adding 63 more jobs this year. In 2017, AVG North America Inc., a Canadian auto parts manufacturer located a new operation in Gas City, creating 12 jobs. Ozark Materials LLC, an Alabama based pavement marking material manufacturer that produces products for all types of roadway applications, came to Marion in 2017, creating 15 jobs and making an initial investment of $1,200,000. The past three years of overall economic growth, combined with personal wealth increases, have made Grant County the 19th largest economy in Indiana. 

Marion’s Mayor Jess Alumbaugh acknowledges that economic growth is a team effort, saying: “Elected officials across the county along with businesses, community leaders and the Economic Growth Council collaborate every day to foster economic growth here in Grant County.” 

Bill Rock, Gas City’s newly elected Mayor is encouraged by the GDP increase: “It is encouraging to see that everyone’s hard work has created results that benefit Grant County businesses and residents,” he said. 

Media Contact: Mikayla Marazzi || mmarazzi@grantcounty.com || (765) 618-2786 

Link to BEA Grant County http://www.bea.gov/data/gdp/gdp-county-metro-and-other-areas

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