Lexington MSA GDP Over $28.5 Billion

The Lexington MSA GDP totaled over $28.5 billion in 2015, the most recent year for which data is currently available.

The largest contributor was manufacturing at $5 billion, followed by real estate, rental, and leasing at $4.1 billion, and professional and business services at $3 billion.

Durable goods manufacturing made up 75% of manufacturing, such as motor vehicle parts, computer and electronics products, machinery manufacturing, and fabricated metal products. Half of the business and professional services GDP was professional, scientific, and technical services such as legal occupations, accounting, engineering, and veterinary services.

Over the past five years, Lexington MSA’s top five industry areas have all seen increases (health care and social assistance data not available for 2011 and 2012). Professional and business services had the largest growth of 26%, followed by manufacturing at 23%. Retail increased by 16%, indicating that the overall economy has been growing stronger and that residents have more discretionary income to spend. In dollar terms, manufacturing saw the largest increase, $928 million.

The Lexington MSA is home to 13.3% of Kentucky’s population, but contributes a higher percentage of the state’s GDP, particularly in educational services, health care, and social assistance (36.2%), real estate and rental and leasing (20.6%), and professional and business services (19.1%).

Note: The Lexington MSA does not include Franklin County.

 

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