West Virginia Economic Growth Booming

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 The federal government says West Virginia tied with Wyoming for the third-fastest economic growth in the nation last year.

The U.S. Department of Commerce’s Bureau for Economic Analysis said Wednesday that West Virginia’s real gross domestic product grew 5.1 percent to $68 billion in 2014, up from $64.7 billion in 2013.

Only two other states had faster growth: North Dakota at 6.3 percent and Texas at 5.2 percent. The bureau says mining was a significant contributor to the economies in those four states and was responsible for nearly all of West Virginia’s growth.

The report comes on the heels of Tuesday’s move by Gov. Earl Ray Tomblin to order $38.9 million in spending cuts to help close an estimated $70 million revenue gap this fiscal year.

(Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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