Montgomery County Among Places in Pennsylvania with Highest GDP Growth

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Montgomery County was among the places in Pennsylvania with the highest GDP growth in 2021, according to a recently released report by SmartAsset.

SmartAsset compared the change in the number of businesses established in each PA location throughout a three-year period to determine whether or not people are starting new business ventures in each county like Montco or Bucks.

The county ranked in third place in the state with a GDP growth of $1,063 million and a GDP Growth Index of 27.01 last year. This is significantly above the state average of $185 million. This figure also placed Montgomery County in the top 100 nationwide at No. 95.

In 2021, the county reported business growth of 0.5 percent, which put it in No. 24 in that category. Nationwide, the county ranked at No. 1,438. The state recorded an average drop in business growth of 0.8 percent.

Meanwhile, 5.7 new building permits per 1,000 homes were issued in that same period, which put Montgomery County in eleventh place in Pennsylvania. Nationally, it ranked in No. 1,119 in this category. The state average is 3.2.

The place with the highest growth in the Keystone State is Allegheny County with $1,361 billion, followed by Philadelphia County with $1,173 billion.

Read more about the places with the highest GDP growth in 2021 in SmartAsset.

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