Manatee County Topped Florida in GDP Growth Rate in 2023, Highlighting Economic Expansion
Manatee County is leading Florida in economic growth, boasting the highest percentage increase in Gross Domestic Product (GDP) among local counties. According to the latest data from the U.S. Bureau of Economic Analysis, the county’s GDP rose from approximately $22.5 billion in 2022 to over $24 billion in 2023, reflecting an impressive 6.7% year-over-year growth.
This remarkable surge places Manatee County at the forefront of economic expansion in Florida, outpacing neighboring counties and reinforcing its role as a rapidly growing economic hub. The growth stems from a combination of factors, including a booming housing market, thriving tourism, and increasing investment in infrastructure and business development.
While Hillsborough County remains the largest contributor to regional GDP, with $128 billion in 2022, Manatee County’s growth rate surpasses its larger neighbor, which saw a more modest year-over-year increase. The rise in Manatee County’s GDP reflects a larger trend of dynamic growth along Florida’s Gulf Coast, with businesses and residents drawn to the area’s favorable economic environment and quality of life.
Studies highlight that Gulf Coast counties, including Manatee, are seeing notable gains in both GDP and business formation, further solidifying the region as a key driver of Florida’s economy. This continued expansion is expected to create new opportunities for residents and businesses, bolstering the county’s reputation as a thriving economic powerhouse.
With its rapidly growing GDP and strategic investments, Manatee County is well-positioned to sustain its momentum and contribute significantly to Florida’s economic success.