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Greater Mankato’s Gross Domestic Product Climbs
Mankato, MINN. (February 22, 2013) – The Mankato-North Mankato Metropolitan Statistical Area (MSA) had a 6.63% annual gain in its current Gross Domestic Product (GDP) from 2010 – 2011. The MSA also had a ten year GDP gain of 57.8%. The information comes from 2011 MSA figures released today by the U.S. Bureau of Economic Analysis.
The Mankato-North Mankato MSA’s one year and 10 year GDP gains were the highest of any of Minnesota’s five MSAs, as well as the State of Minnesota and the United States.
1 Year Change 2010-11
10 Year Change
Mankato-North Mankato, MN
St. Cloud, MN
Minneapolis-St. Paul-Bloomington, MN-WI
“This data is consistent with other economic performance measurements and benchmarks we’ve seen over the past number of years, illustrating our region’s continued economic growth and vitality,” said Greater Mankato Growth President & CEO Jonathan Zierdt.
According to the Bureau of Economic Analysis, GDP by metropolitan area is the sub-state counterpart of the Nation's GDP the Bureau's featured and most comprehensive measure of U.S. economic activity. GDP by metropolitan area is derived as the sum of the GDP originating in all the industries in the metropolitan area. GDP by metropolitan area is a measure of each area's gross product that is based on national prices for the goods and services produced within the metropolitan area.
For more information on today’s release from the Bureau of Economic Analysis, visit bea.gov/newsreleases/regional/gdp_metro/2013/gdp_metro0213.htm.
About Greater Mankato Growth
Greater Mankato Growth (GMG) is committed to advancing business for a stronger community. As the Chamber of Commerce and Economic Development organization serving the regional marketplace, GMG advances business through: existing business support, new business growth, business promotion, talent development, public affairs, community marketing, visitor attraction and servicing and civic engagement. Greater Mankato Growth, Inc. also includes two LLCs: the Greater Mankato Convention and Visitors Bureau, LLC, which focuses on visitor attraction and servicing, and the City Center Partnership, LLC, which focuses on development in the City Center.
About the Regional Economic Development Alliance
In 2009, the Regional Economic Development Alliance (REDA) began with a progressive group of communities and counties joining together with Greater Mankato Growth in business attraction and development efforts. REDA participants include Eagle Lake, Lake Crystal, Le Sueur, Madison Lake, Mankato, Saint Peter and Blue Earth County. By working together, the group is able to efficiently provide regional and individual city and county information to businesses interested in the Greater Mankato marketplace. As a result of promoting the individual strengths of each community, along with the combined assets of the regional marketplace, all experience collective success.