Kansas number one in nation for economic growth

TOPEKA (KSNT) - Kansas has topped the nation for economic growth.

Data released by the Bureau of Economic Analysis (BEA) put Kansas in the top slot for the fastest economic growth rate in the U.S. with Kansas' economy growing by 9.7% in the third quarter.

The figures improve on Kansas' second quarter when it had the second-fastest growth rate with 7.4%.

“This data shows that our efforts to support businesses, create a stable economy, and grow our workforce are paying off,” Governor Laura Kelly said. “Now, Kansas is outstripping the entire nation in economic growth and attracting business investment. Last week, I announced Kansas surpassed $18 billion in business investment since I took office in 2019. It’s clear we have the momentum to continue this trajectory of economic success into 2024 and beyond.”

A press release from the Office of the Governor attributed the administration's work supporting agriculture, forestry, fishing and hunting industries with driving growth. According to the press release, those industries decreased nationally while being leading factors for growth in Kansas.

Farming growth decreased in 41 states across the nation but was a leading contributor to increased earnings in Kansas. In Kansas, personal income growth was also among the highest in the nation with 4.9%. Kansas had a three-way tie in wage growth for second place with Connecticut and South Carolina. Texas took the top spot for wage growth in the nation with 5.2%, according to data from the Bureau of Economic Analysis.

Texas followed Kansas in economic growth with a 7.7% change in GDP. In Texas, retail trade was the leading contributing factor to growth.

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