New federal data from the U.S. Bureau of Economic Analysis finds Maine’s Gross Domestic Product has increased since Governor Janet Mills took office. The 9.2 percent increase is among the highest rates of growth in the nation.
Maine is leading New England in economic growth and has experienced stronger growth in recent years than larger states like New York and California.
Maine’s real Gross Domestic Product (GDP) grew at 4.9 percent during the third quarter of 2023.
Since the fourth quarter of 2019, the year Governor Mills took office, data shows that Maine’s real GDP has increased by 9.2 percent. Maine’s rate of economic growth during the period was the best in New England and outperformed the growth of larger states like New York (3.5 percent), California (7.6 percent), and Virginia (8.2 percent).
From Gov. Mills:
From day one, my Administration has been guided by the belief that to grow our economy, we must invest in our greatest asset: the people of Maine. This data shows that our investments in Maine people, solid fiscal management, initiatives to strengthen our workforce, and strong, innovative businesses are driving robust economic growth. I am proud of this achievement, and we will continue to work hard to improve the lives and livelihoods of Maine people and keep our state on the map as the best place to live, work, and raise a family.
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