A recent report from the United States Department of Labor places Adams County in the top five worst counties in the United States with economic growth.
According to the Local Area Gross Domestic Product report, in 2018, the United States economy expanded by the fastest pace in more than a decade, powered by growth in more than three-fourths of American counties.
Gross Domestic Product is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.
Across the United States, gross domestic product (GDP), increased in 2,375 counties in 2018, while it shrank in just 717 counties. It ranged from massive growth in Jackson County, West Virginia at 86.5 percent to Grant County, North Dakota, which shrank by 44 percent.
The most losses occurred in small counties, which have populations under 100,000. Across the 2,508 small counties in the United States, about one-quarter saw their economies contract in 2018.
By percentage, small counties had both the best and worst percentage changes in GDP. Grant County, North Dakota shrank by 44 percent, a result of losses in the area’s agriculture, forestry, fishing and hunting industry. On the other side, Jackson County, West Virginia expanded by 86.5 percent, led by the construction industry.
The counties ranked with the best economic growth are Jackson County, West Virginia (86.5), Harlan County, Nebraska (71.2), Banner County, Nebraska (64.5), Arthur County, Nebraska (61.9), Chouteau County, Montana (60.9).
The counties ranked with the worst economic growth are Grant County, North Dakota (-44), Blaine County, Nebraska (-43.1), Rock County, Nebraska (-42), Castro County, Texas (-37.8), Adams County, Ohio (-35).
Since 2016, Adams County has dropped by more than 46 percent. In 2016, the Real Gross Domestic Product was $1,528,527. In 2017, the Real Gross Domestic Product was $1,285,726. In 2018, the Real Gross Domestic Product was $835,269.
Adams County was also rated the worst county in Ohio with economic growth.
