Issue link: http://savannah.uberflip.com/i/1202658
56 Savannah Area Chamber of Commerce 2020 Economic Trends 6 Economy: Gross Regional Product Gross Regional Product (GRP) in Savannah grew almost $605 million (3.2%) from 2017 to 2018; this puts Savannah in third place for growth among the Georgia metropolitan areas measured by the U.S. Department of Commerce's Bureau of Economic Analysis. At almost $19.5 billion, Savannah's GRP is the state's third largest, behind only Atlanta and Augusta. Economic activity generated by Savannah's private sector industries measured nearly $17.1 billion in 2018 and accounted for 88% of the regional economy in 2018. Growth GDP ($ millions) 2017-2018 Change Rank MSA 2016 2017 2018 1 Gainesville $ 8,015 $ 8,441 $ 8,765 3.8% 2 Macon-Bibb County $ 10,048 $ 10,089 $ 10,424 3.3% 3 Savannah $ 18,166 $ 18,840 $ 19,445 3.2% 4 Warner Robins $ 6,631 $ 6,797 $ 6,980 2.7% 5 Athens-Clarke County $ 8,442 $ 8,730 $ 8,955 2.6% 6 Atlanta-Sandy Springs-Alpharetta $ 334,862 $ 348,682 $ 357,308 2.5% 7 Albany $ 5,162 $ 5,224 $ 5,324 1.9% 8 Augusta-Richmond County $ 23,649 $ 24,254 $ 24,691 1.8% 9 Columbus $ 12,999 $ 13,233 $ 13,467 1.8% 10 Dalton $ 6,732 $ 6,823 $ 6,856 0.5% Source: Bureau of Economic Analysis, U.S. Department of Commerce, Inflation adjusted 2012 dollars Gross Domestic Product by Metropolitan Area. (http://www.bea.gov/iTable/index_regional.cfm/ retrieved 12/29/2019, Table CAGDP9) A diverse mix of industries, busy ports and strategically networked transportation, logistics, energy and communications infrastructures create a business climate in Savannah that is unmatched in many larger cities. Savannah's exceptionally high value-adding production in manufacturing represents approximately 24% of the region's total output. Source: Bureau of Economic Analysis, U.S. Department of Commerce, Gross Domestic Product by Metropolitan Area, Table CAGDP9. Inflation adjusted 2012 dollars. "Wholesale Trade" and "Transportation and Utilities" are suppressed to avoid the disclosure of confidential information. GRP is the measure of the market value of final goods and services produced within a metropolitan area in a particular period of time. It is the most comprehensive measure of economic activity provided by the Bureau of Economic Analysis of the U.S. Department of Commerce.