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B/CS area has second fastest growing GDP in state

(KBTX)
Published: Jan. 24, 2020 at 12:49 PM CST
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The Bryan-College Station Metropolitan Statistical Area has the second fastest growing Gross Domestic Product in the state.

New economic indicators from the Texas A&M Private Enterprise Research Center show our area's Gross Domestic Product was $13.3 billion in 2018.

It's the second leader in the state for GDP growth behind the Austin- Round Rock-Georgetown metro.

KBTX met with a Texas A&M Economist about what it means for residents here.

"We're looking at numbers from 2018 so it tells you that In the past and through 2018 GDP's been growing a lot and things have been going well. And even in the last year, we know through 2019 that the economy is doing great," said Dennis Jansen, Texas A&M Private Enterprise Research Center Director.

“We’re excited about the index and the growth that we're seeing. We saw especially from 2016 forward just some wonderful aggressive growth that’s happening with the index," said Matt Prochaska, Brazos Valley Economic Development Corporation President and CEO.

"That’s in thanks to our partners so if we look at the jurisdictions and the cities and the county and A&M what’s happening. We are becoming a growing, thriving, business community and the economy is reflecting those numbers. From the quality of place to welcoming new companies to our talent pool. All of that really plays in," said Prochaska.

The unemployment rate also stayed level at just 2.7%.

The local MSA includes Brazos, Burleson and Robertson Counties. Jansen said the numbers released by the Bureau of Economic Analysis have revised and improved their methodology for the latest GDP figures.

We have the latest report attached in the related documents section of this story.

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