~~Bureau of Economic Analysis Report Reflects Success of Kelly Administration Efforts to Create Jobs, Support Businesses~~
TOPEKA – A report recently released by the Bureau of Economic Analysis (BEA) shows that, in the first quarter of 2023, Kansas ranked fourth in the nation for personal income growth and seventh in the nation for economic growth. The report highlights the Kelly administration’s success in recruiting and supporting businesses that grow the state’s economy and increase wages for workers.
“This report is further proof that the work my administration is doing to create good-paying jobs, grow the economy, and balance the budget is benefiting Kansans,” Governor Laura Kelly said. “The days of Kansas making headlines for failure and mismanagement are long behind us. Now, we are leading the nation in creating a strong economy.”
Kansas’ real gross domestic product (GDP), or the market value of goods and services produced in the state, grew by 6.0% from the fourth quarter of 2022 when adjusted for inflation, triple the national average of 2.0%.
Personal income in Kansas grew by 8.4% over the same period, surpassing the national rate of 5.1%.
“This report demonstrates the resiliency and strength of the Kansas economy,” Secretary of Administration and Director of Budget Adam Proffitt said. “The state has placed in the top 7 for both GDP and Personal Income in the aggregate and across multiple sectors of the economy, showing that our economy is not overly dependent on any one sector. Our state’s fiscal health is strong, and the outlook remains promising.”
The report showed that agriculture, forestry, fishing, and hunting were the lead contributors to growth in states including Kansas – a testament to the Kelly administration’s efforts to reinvigorate the state’s economy across multiple sectors.
“The Kansas Department of Wildlife and Parks and residents have worked hard to build a reputation for the Sunflower State as one of the top states in the nation for outdoor recreation, and our six percent rise in real GDP this quarter certainly reflects that,” Secretary of Wildlife and Parks Brad Loveless said. “By prioritizing sustainable practices and collaboration with private landowners, I’m confident we’ll continue to develop our great tradition of hunting, fishing, hiking, and camping for many more generations, and visitors, to come.”
“Agriculture has always been at the heart of the Kansas economy, and the growth we’ve seen in agriculture and agribusiness across the state shows the entrepreneurial spirit of Kansans,” Agriculture Secretary Mike Beam said. “Innovative approaches in technology, science, and sustainability will keep Kansas agriculture at the forefront of producing the food, fiber, and fuel that are needed in the future.”
Read more from the BEA here.
Original source can be found here.
