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Business Observer Saturday, May 7, 2022 4 months ago

Gulf Coast counties see surge of GDP growth, business formation

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Hillsborough, Lee, Pinellas and Sarasota counties are among the state's top 10 in terms of economic activity.

Four Gulf Coast counties are among the top 10 areas in Florida where gross domestic product is growing the fastest, according to a new study by SmartAsset.

The list is topped by Miami-Dade County, where GDP growth topped $4.58 billion and business growth — a measure of how many new businesses have been formed in the past year — exceeded 3.5%.

 

Ranked No. 5, Hillsborough County leads the Gulf Coast in GDP growth, surpassing $2.02 billion and with a business growth rate of 5%. Right behind, at No, 6, is Pinellas County, with GDP growth of $1.55 billion and a 4.7% uptick in new business formation.

Lee County, with GDP growth of $1.03 billion, appears at No. 8 on the list. Its 7.7% business growth rate is the highest among Gulf Coast counties.

Holding the No. 10 spot is Sarasota County, where GDP grew by $756 million and new business formation rose by 4.8%.

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