The COVID-19 pandemic caused the largest GDP drop in modern US history. Many businesses closed and many workers lost their jobs, bringing the economy to a halt. Even allowing for the devastating impact of 2020, many local economies grew overall from 2015-2020.
Every state had at least one county where GDP increased from 2015 to 2020. In some states, the GDP of the fastest growing local economy grew by just a few percentage points. In others, the size of the county’s economy has more than doubled.
To identify the fastest growing local economy in each state, 24/7 Wall St. reviewed county-level real GDP data from the US Bureau of Economic Analysis. The circles were ranked based on the percentage change in real GDP from 2015 to 2020.
Most of the counties in each state with the fastest growing economy are not particularly prosperous areas. Most have median household incomes below the US average of $64,994.
The US has one of the most diverse economies in the world, and the fastest growing local economies in each state have been sustained by a variety of industries. Several counties on this list had manufacturing, utilities, agriculture, management, information, and oil and gas exploration as their fastest growing industries. This is the fastest growing job in any state.
Click here to see the fastest growing local economy in each state
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