CEDAR VALLEY OF IOWA (Sept. 2014) The Waterloo/Cedar Falls Metropolitan Statistical Area gross domestic product (GDP) of $8.7 billion from 2012-2013. This is up 5.6% from the previous year, according to data released last week from the U.S. Bureau of Economic Analysis. Collectively, real GDP for U.S. metropolitan areas increased 1.7% during the same period.
The Metro Area had the second highest percentage increase compared to other Iowa metros. The largest percentage GDP increases by industry were: Information (7.5%); Real Estate, Rental, Leasing (11.9%); and Finance, Insurance (10.3%). Manufacturing and Retail grew 3.3% and 3.7% respectively.
“These numbers support what our businesses have been saying all along: the Cedar Valley is strong and growing,” comments Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber. “These gains reflect the confidence of Cedar Valley businesses across the valley who are making investments in their companies, increasing exports, and hiring talented, productive people.”
Other IA metros GDP growth from 2012-2013:
Cedar Rapids: 3.1%
Des Moines: 4.5%
Iowa City: 4.4%
Quad Cities: 2.8%
Sioux City: 7.3% (25.2% construction led growth by industry sector)
Omaha/Council Bluffs: 3.9%
The mission of the Greater Cedar Valley Alliance & Chamber is to increase economic vitality and wealth by leading collaborative economic and community development. Details about the many programs and initiatives of the Alliance & Chamber can be found at www.cedarvalleyalliance.com or by calling Steve Dust, CEO at (319) 232-1156.