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10/28/2018 5:56:00 PM
Lake County has second fastest growing economy in Indiana, study finds

Joseph S. Pete, Times of Northwest Indiana

Lake County has been benefiting from major investments like the $750 million U.S. Steel is pumping into Gary Works and the new data center on the Hammond lakeshore.

SmartAsset, a New York City-based technology company, ranks Lake County second and Porter County eighth in Indiana in gross domestic product growth over the past four years. 

Lake County's GDP has grown by $1.15 billion over the last four years, according to the SmartAsset study. Indiana's second most populous county, after Marion, has experienced 0.8 percent business growth during that period, the 33rd most statewide.

Over the last four years, Lake County also has issued 5,300 new building permits and experienced a gross domestic product growth of 4.04 percent.

Porter County posted 3.06 percent GDP growth and 1.3 percent business growth over the last four years. Porter County also issued 9,000 building permits and experienced an estimated $408 million in GDP growth over that period. 

Northwest Indiana continues to grow despite a relative lack of federal funding compared to other parts of the state. Lake County ranked 36th, Porter 44th and LaPorte 50th statewide in federal funding per capita. Porter County pulled in just $17 in federal funding per resident, as compared to $2,678 per resident in Indianapolis.

As far as incoming investment, Porter County placed 10th statewide, Lake County 28th and LaPorte County 69th. 

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Editor, John C. DePrez Jr.; Executive Editor, Carol Rogers; Publishers: IBRC and IAR

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