1. Slide 1 Charles County Department of Economic Development Gross Domestic Product Measuring the County’s Economy Gross Domestic Product Measuring the County’s Economy

2. Slide 2 Topic Overview How is the County’s GDP measured? The County’s total GDP compared to other jurisdictions. GDP by component. Top ten contributors to the County’s GDP. How is the County’s GDP measured? The County’s total GDP compared to other jurisdictions. GDP by component. Top ten contributors to the County’s GDP.

3. Slide 3 What is Gross Domestic Product? GDP is the market value of all final goods and services produced during a given time period. What is Gross Domestic Product? GDP is the market value of all final goods and services produced during a given time period. Known as Gross County Product County output Measure of the county’s economic health Formula Consumption+ Investment+ Government Spending+ (Exports- Imports) Final goods are… Goods or services that are consumed by the end user and do not require any further processing, i.e. The purchaser of a car is the end user, not the tire manufacturer or seat belt installer. Final Goods can be classified into three categories: 1. Durable Goods 2. Non- durable goods 3. Services

4. Slide 4 Gross Domestic Product since Recession Source: Regional Economic Models Inc. Billions

5. Slide 5 1.84% GDP growth since 2012 Billions of Fixed 2005 Dollars Source: Regional Economic Models Inc. 2013 REMI PI+ V1.5. Amherst, MA Regional Economic Models Inc. Billions Gross Domestic Product Historical and Forecast 1990-2020

6. Slide 6 2012 MD Counties GDP (in Billions) Gross Product: Total, (Fixed 2005 $) in Billions U.S. Bureau of Economic Analysis (BEA); Moody's Analytics (ECCA) Forecast The County's 2012 GDP was $3.972 B. Billions

7. Slide 7 2013 GDP by Component (in billions) Source: Regional Economic Models Inc. 2013 REMI PI+ V1.5. Amherst, MA Regional Economic Models Inc. Billions

8. Slide 8

9. Slide 9 Appendix I 2013 Imports from the Rest of the Nation (in billions) Source: Regional Economic Models Inc. 2013 REMI PI+ V1.5. Amherst, MA Regional Economic Models Inc.

10. Slide 10 Appendix II 2013 Exports to the Rest of the Nation (In Millions)

11. Slide 11 Presented by: Charles County Government Department of Economic Development Kwasi Holman- Director of Economic Development holmank@meetcharlescounty.comwww.CharlesCountyMD.gov Charles County Government Department of Economic Development Kwasi Holman- Director of Economic Development holmank@meetcharlescounty.comwww.CharlesCountyMD.gov Mission Statement The mission of Charles County Government is to provide our citizens the highest quality service possible in a timely, efficient, and courteous manner. To achieve this goal, our government must be operated in an open and accessible atmosphere, be based on comprehensive long- and short-term planning, and have an appropriate managerial organization tempered by fiscal responsibility. We support and encourage efforts to grow a diverse workplace. Mission Statement The mission of Charles County Government is to provide our citizens the highest quality service possible in a timely, efficient, and courteous manner. To achieve this goal, our government must be operated in an open and accessible atmosphere, be based on comprehensive long- and short-term planning, and have an appropriate managerial organization tempered by fiscal responsibility. We support and encourage efforts to grow a diverse workplace. Vision Statement Charles County is a place where all people thrive and businesses grow and prosper; where the preservation of our heritage and environment is paramount, where government services to its citizens are provided at the highest level of excellence; and where the quality of life is the best in the nation. Vision Statement Charles County is a place where all people thrive and businesses grow and prosper; where the preservation of our heritage and environment is paramount, where government services to its citizens are provided at the highest level of excellence; and where the quality of life is the best in the nation.