Grand Rapids, Michigan has a rapidly growing Gross Regional Product (GRP). In fact, it’s one of the fastest growing in the country according to recently released data from the Bureau of Economic Analysis and Headlight Data.
Grand Rapids GRP is growing much faster than the national average. Over the past five years, its GRP grew at a rate of 30.9%, compared to the national average of 20.5%. This lands the Grand Rapids metro in the top 10 of all large metros in the nation, and makes it one of only two Midwest cities in the top 10. This ranking also puts the region’s growth rate in the company of cities like San Jose, CA and Austin, TX.
GRP is a measure of an economy’s size and, similar to Gross Domestic Product (GDP), it’s the market value of goods and services produced in the region during specific period of time. The Grand Rapids metro includes data from Kent, Ottawa, Montcalm, and Barry counties.
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