Economic Development Data & Resources

Measuring the Regional Economy

One of the most common measure of economic activity for a region is the gross regional product (GRP). The GRP is the market value of all final goods and services produced over a given period of time and is conceptually equivalent to the national measure of economic growth, the gross domestic product (GDP).  In 2012, for the 17 county region in the southeast Kansas, the total GRP for the region was $8,700 million. Out of this $5,194 were from regional earnings, $2,814 million were from property taxes generated from the region and $692 million were from taxes on production.

The following table breaks the GRP for the region by industries. The greatest value adding industries are Manufacturing and utilities (if Government was left aside).
GRP

Imports and Exports
Imports

The imports for the region show the amount of money leaving the region to foreign and external domestic sources. And exports for the region show the money received in the region through foreign and external domestic sources. The chart below shows the import and export of the region in 2012.
Chart

The region imports 80% of its demand, over $3 billion in each Manufacturing and Government. Health Care and Social Assistance; Finance and Insurance; and Mining, Quarrying, and Oil and Gas are each around $1 billion in imports. The region exports 79% of its supply. With over $5 billion in exports the region’s manufacturing industry is the top wealth generator for the region. Utilities and Agriculture, Forestry, Fishing and Hunting are both other large exporting industries with exports greater than $1 billion.

 
 

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