“Lehigh Valley GDP Continues to Grow; Reaches Record-High $39 Billion”
By Colin McEvoy, Lehigh Valley Economic Development Corporation, on September 21, 2017
The Lehigh Valley GDP saw year-over-year growth in each individual subsector, reflecting the remarkable balance of the Lehigh Valley economy.
The Lehigh Valley’s gross domestic product (GDP) for private sector industry has grown to a record-high $39.1 billion for 2016, a more than 4 percent increase over the previous year.
The regional GDP saw year-over-year growth in each individual subsector, reflecting the remarkable balance of the Lehigh Valley economy.
“It’s truly remarkable to consider that the economic output of our two counties has increased to the point that it’s larger than two states,” said Don Cunningham, President and CEO of the Lehigh Valley Economic Development Corporation (LVEDC). “We saw growth across each of our economic subsectors, and manufacturing continues to grow in the Lehigh Valley, making up an even larger percentage of the regional economy than last year.”
The findings released today by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) show that the Lehigh Valley economy now ranks 65th out of the 382 largest metropolitan areas in the United States, compared to ranking 73rd last year.