Bowling Green MSA Shows Positive Growth Rate Contact:
Jessica M.L. Thompson, Communications Director
BOWLING GREEN, KY (October 2, 2009) - New statistics released by the U. S. Bureau of Economic Analysis show that the Bowling Green Metropolitan Statistical Area (MSA) is growing faster than nearly three-fourths of all metropolitan areas in the United States in terms of real gross domestic product (GDP), despite a downturn in the economy.
From 2007 to 2008, the Bowling Green MSA saw a 2% positive growth in real GDP, ranking the MSA in the top 25th percentile for growth compared to the entire 368 MSAs in the nation. The real GDP grew from $3.76 billion in 2007 in the MSA to $3.837 billion in 2008. The real GDP rate from 2006 to 2007 was 2.6% in Bowling Green.
"The BEA's new statistics are encouraging news for Bowling Green," said Bowling Green Mayor Elaine Walker. "It's reassuring to know that our work in economic development is continuing to bring positive results despite a challenging economy."
Since January 2007, South Central Kentucky has witnessed 57 new and expanding industry announcements with a reported capital investment of more than $229 million and 2,631 additional jobs when full employment is attained. The Bowling Green Area Chamber of Commerce has participated in 35 of those 57 announcements, with an investment of $138.9 million and the creation of 2,091 jobs.
"The Chamber continues to focus its economic development efforts on bringing more new jobs to the South Central Kentucky region, whether through attracting new industries or expanding established industries," explained Todd Davis, 2009 Chamber Board of Directors Chairman. "We're proud to see that the latest GDP statistics show the positive results of this work."
Bowling Green also demonstrated the highest growth rate in Kentucky with the exception of the Clarksville, TN-KY MSA, which saw a growth rate of 4.6%. The Nashville-Davidson-Murfreesboro-Franklin, TN MSA grew 1.5%. Other surrounding MSAs grew at the following rates:
- Elizabethtown: 1.4%
- Lexington-Fayette: 0.9%
- Huntington-Ashland, WV-KY-OH: 0.7%
- Cincinnati-Middletown, OH-KY-IN: 0.1%
- Owensboro: -0.6%
- Evansville, IN-KY: -1.1%
- Louisville-Jefferson County, KY-IN: -1.3%
"It's a testament to the strength of South Central Kentucky when we hear about results such as these," said Warren County Judge Executive Michael Buchanon. "To be the MSA with the second-highest growth rate in the state is a real honor, one that Bowling Green well deserves because of the consistent and effective economic development work that is accomplished here."
About the Bowling Green Area Chamber of Commerce
Incorporated in 1935, the Bowling Green Area Chamber of Commerce is proud to be the 2009 Chamber of the Year, as named by the American Chamber of Commerce Executives. As one of only 336 chambers nationwide to be accredited by the U.S. Chamber of Commerce, and the fourth largest chamber in Kentucky, the Chamber serves as a premier business advocate for its more than 1,300 partners and is the driving force for economic development in South Central Kentucky. Its primary goals are to promote growth and success in the business community, reaching its small business partners and those in large industries alike. With leadership programs, governmental relations projects, educational initiatives and involvement opportunities, the Chamber aims to support the community and its neighbors in order to enhance the business climate and continue to grow the region.