While real Gross Domestic Product (GDP) fell in seven of the Southern Tier’s fourteen counties in 2015, Tioga County led all of New York State with a 10.8% growth rate, according to a new
statistical report issued by the U.S. Bureau of Economic Analysis (BEA) on December 12.
The BEA defines GDP as the total value of all goods and services “originating in all the industries in the county.” The real GDP measure adjusts for inflation, meaning it removes the effect of price changes.
BThe report, covering the period from 2012 to 2015, is described as a “prototype” and is the first attempt to provide individual GDP statistics for all counties in the United States.
The data suggests that Tioga County’s 2015 performance is part of a larger trend. The County grew by 22.1% between 2012 and 2015, second only to Steuben County’s 24% growth rate during this period.
“This is certainly encouraging news for Tioga County,“ stated Economic Development and Planning Director LeeAnn Tinney. “This data is clear evidence that we are heading in the right direction with the recent growth in manufacturing and agricultural sectors.”
