The Visalia-Porterville MSA (Tulare County, CA) gross domestic product (GDP) posted a 7.6% increase in 2015, ranking it number 4 nationally, according to the Bureau of Economic Analysis, following the MSA’s of Midland, TX (1), San Jose-Sunnyvale-Santa Clara, CA (2) and Lake Charles, LA (3)
The data, released September 20, 2016, showed that real GDP nationally increased 2.5% led by growth in professional and business services, wholesale trade and retail trade, finance and real estate.
The Visalia-Porterville MSA GDP was $14,232,000 in 2015, were due in large part to the agriculture industry which grew by 22.5% from 2014 to 2015. The County showed GDP growth in all sectors, with the exception of manufacturing which showed a nominal decrease.
“As our economist predicted at this past economic summit, our local economy continues to show resiliency and growth in GDP, in jobs and in other economic categories” stated Paul Saldana, President & CEO of the Tulare County Economic Development Corporation. “Our next economic update is certain to quantify the positive changes we have observed in our economic conditions” Saldana added. The EDC issues a quarterly economic update as well as an annual economic forecast.
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