Lehigh Valley’s GDP Reaches Record $55.7 Billion
LVB.com
by Stacy Wescoe//December 10, 2024
The Lehigh Valley has set a new economic benchmark, with its Gross Domestic Product (GDP) hitting $55.7 billion in 2023. Surpassing the economies of Alaska, Vermont, and Wyoming, the region’s growth was fueled by its robust manufacturing sector, which contributed $9 billion to the total.
With a 4% inflation-adjusted growth rate, the Lehigh Valley is outpacing Pennsylvania, the Northeast, and the nation. Its manufacturing economy ranks among the top 15% in the U.S., earning it recognition as the No. 1 mid-sized market for economic development by Site Selection magazine.
According to Don Cunningham, CEO of LVEDC, the region’s success lies in its collaborative spirit and diverse industries. This economic momentum is driving rising wages, household incomes, and quality of life for local families.
For the full story, visit Lehigh Valley Business: Lehigh Valley GDP grows to record $55.7 billion