GOSHEN — Elkhart County’s gross domestic product was the third-fastest growing in the nation between 2011 and 2012, according to numbers released in September 2013 by the U.S. Bureau of Economic Analysis.
The Elkhart-Goshen Metro Statistical Area, which is all of Elkhart County, saw growth from $6.78 billion in 2009 to $9.81 billion in 2012, using 2005 dollars as a reference point. Using current dollars, Elkhart County grew from $7.35 billion in 2009 to $10.53 billion in 2012.
That’s a huge rebound from the recession trough, placing us behind only Midland, Texas, and Odessa, Texas in terms of percentage.
In 2012 Elkhart County was the 178th largest metro area in the U.S. by dollar amount, according to the BEA, a part of the U.S. Department of Commerce.
“Durable-goods manufacturing continued to spur growth in many of the nation’s metropolitan areas in 2012. Strong contributions from this industry fueled growth in many small metropolitan areas where it constitutes a large portion of the area’s economy,” the BEA wrote in the announcement of the 2012 data.
“This is especially true in the Great Lakes region where durable-goods manufacturing contributed 8.5 percentage points to growth in Elkhart-Goshen, IN, 8.3 percentage points to growth in Columbus, IN, and 7.2 percentage points in Kokomo, IN,” the BEA report notes.
“Elkhart-Goshen, IN and Columbus, IN were two of the fastest growing metropolitan areas in 2012, with overall real GDP growth of 11.4 percent and 9.6 percent, respectively,” according to the report.
In addition to the manufacturing gains, trade, transportation and utilities, information, financial activities, education, health services, other services and leisure and hospitality all posted small gains. Natural resources and professional/business services saw drops, while government had zero change between 2011 and 2012.