Kokomo ranks eighth in nation for 2012 economic growth
Last Updated: 81 days ago
KOKOMO, Ind. - New data shows a central Indiana city had one of the fastest-growing economies in the nation in 2012.
The United States Bureau of Economic Analysis said Kokomo’s economy grew 8.4 percent last year, making it third in the state and eighth in the nation for fastest-growing economy.
Kokomo Mayor Greg Goodnight said it’s welcome news for the city and it is an indication that Kokomo is heading in the right direction.
“We’re working hard to improve our community and make Kokomo a better place for residents and businesses,” Goodnight said. “Our local businesses have noticed our efforts and have invested in their Kokomo facilities and workforce. These investment decisions will positively impact our community for years and decades to come.”
In 2012, a spate of new announcements and investments came out from Kokomo’s manufacturing community. Among those were:
- Chrysler continued to invest hundreds of millions in new manufacturing equipment
- Haynes International announced a $23.5 million investment to expand manufacturing
- Carney Echelbarger relocated to Kokomo and invested $700,000 in its new facility
- EAC Corp relocated to Kokomo and invested more than $200,000 in new equipment
In additions to these areas of growth, Kokomo’s job force increased by 1,400 jobs from 2011 to 2012.
“As positive as these announcements are, we also know that they are just the beginning,” City of Kokomo Development Director Steve Whikehart said. “We will continue to promote economic development and improve quality of life in our community, by building partnerships, by investing wisely and by demanding more of ourselves, in everything we do.”
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