Regions

Local economic growth rates slow in some parts of Virginia

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Only five of 11 Virginia metro areas had local economic growth rates that matched or exceeded the national average last year, according to figures released Tuesday by a federal agency.

The U.S. Bureau of Economic analysis said the real gross domestic product averaged 2.5 percent among the nation’s 381 metropolitan areas in 2012, according to preliminary numbers. That growth rate represented an increase from 1.7 percent the previous year.

The 11 Virginia metro areas on the agency’s list averaged 3 percent, but only five had growth rates equal to or higher than 3 percent.

Those metro areas were Richmond (5.2 percent), Roanoke (5.1 percent), Blacksburg-Christiansburg-Radford (4 percent), Hampton Roads (3.9 percent) and Winchester (2.5 percent).

The other five were: Washington, D.C., including Northern Virginia (2.3 percent), Staunton-Waynesboro (2.2 percent), Lynchburg (2.1 percent), Bristol, including parts of Tennessee (2 percent), Harrisonburg (1.7 percent) and Charlottesville (1.5 percent).

A breakdown of GDP numbers shows:

Blacksburg-Christiansburg-Radford: $5.46 billion in 2011, $5.68 billion in 2012, 262nd in size among U.S. metro areas
Bristol: $10.17 billion in 2011, $10.37 in 2012, 182nd.
Charlottesville: $10.32 billion in 2011, $10.47 billion in 2012, 179th.
Hampton Roads: $81.64 billion in 2011, $84.84 billion in 2012, 39th.
Harrisonburg: $6.59 billion in 2011, $6.93 billion in 2012, 233rd.
Lynchburg: $8.53 billion in 2011, $8.71 billion in 2012, 200th.
Richmond: $65.21 billion in 2011, $68.21 billion in 2012, 44th.
Roanoke: $13.12 billion in 2011, $13.80 billion in 2012, 145th.
Staunton-Waynesboro: $4.47 billion in 2011, $4.57 billion in 2012, 306th.
Washington, D.C.: $438.77 billion in 2011, $448.74 billion in 2012, fifth.
Winchester: $5.27 billion in 2011, $5.40 billion in 2012, 273rd.


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