The Southern California region is the top contributor to overall US GDP
June 26, 2019
- In the U.S., the top 20 counties by GDP, only 0.6 percent of the nation’s counties, account for 27 percent of its overall GDP, a total of $5 trillion and the Southern California region accounts for 23.6 percent of this.
- California is not only the largest economy of any US state but, if it were a country, it’d be the fifth largest economy in the world. With a population of more than 39 million people, the Golden State also is the most populous state and drives much of the nation’s trends. With its incredibly diverse economy and strong economic drivers in Hollywood, Silicon Valley, manufacturing and agriculture, that state makes up 14 percent of the US economy.
- The SoCal region is a major player for the state. In 2017, the LA-OC metro economy alone made it to the trillion-dollar club. Orange County, though small in size compared to surrounding counties, is the state’s third largest economy, only after Los Angeles and Santa Clara. OC’s GDP is comparable to that of Peru or Portugal!
Source: JLL Research, Bureau of Economic Analysis