The COVID-19 pandemic caused the most significant GDP decline in modern U.S. history. Many businesses shuttered and many workers lost jobs, bringing the economy to a screeching halt. Even when factoring in the devastating effects of 2020, many local economies still grew overall from 2015 to 2020.
Each state had at least one county in which the GDP increased from 2015 to 2020. In some states, GDP in the fastest growing local economy increased by just a few percentage points. In others, the size of the county’s economy more than doubled.
To determine the fastest growing local economy in every state, 24/7 Wall St. reviewed data on real GDP at the county level from the U.S. Bureau of Economic Analysis. Counties were ranked based on percentage change in real GDP from 2015 to 2020.
The majority of the counties in each state with the fastest growing economy are not especially wealthy areas. Most have median household incomes that are lower than the U.S. median of $64,994.
The U.S. has one of the most diverse economies in the world, and the fastest growing local economies in each state were buoyed by a wide variety of industries. Multiple counties on this list had manufacturing, utilities, agriculture, management, information, and oil and gas extraction rank as their fastest growing industry. This is the fastest growing job in every state.
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