St. Bernard Parish Reports 42% GDP Growth
CHALMETTE, La. – The U.S. Department of Commerce’s Bureau of Economic Analysis and The Advocate have reported that St. Bernard’s gross domestic product growth from 2016-2019 ranks second amongst all parishes in Louisiana, rising 42% and over $273 Million. GDP, defined as the total value of all goods and services produced in a market, is a key performance indicator of an economy’s health and outlook.
“This newfound data is proof of what the residents of St. Bernard Parish already see daily. Our Parish is experiencing steady increases in business permits applied for and issued, residential construction, property value, household income and job opportunities” said Meaghan McCormack, executive drector of the St. Bernard Economic Development Foundation. “Now, St. Bernard must look to capitalize on this growth to improve quality of life throughout the Parish, creating a better tomorrow for our residents both present and future.”
While the Coronavirus pandemic and 2020 upended many economic sectors, early data suggests St. Bernard Parish has shown resiliency, from its neighborhoods to its small business ecosystem.
“We are lucky to continue seeing a rise in new businesses, residential construction and an uptick in corporations interested in scaling their operations to our parish,” said McCormack. “While last year was hard on many in our community, St. Bernard knows how to stick together and fight hardships. We see our recent growth as a sign of great things to come upon our economy’s full return to normalcy.”