HOWARD COUNTY, Ind. (WOWO): According to new data released by the United States Bureau of Economic Analysis, Kokomo was the 8th fastest-growing economy in 2012.

The Kokomo metropolitan area had one of the fastest-growing economies in the nation, growing 8.4 percent last year, making it third in the state and eighth in the nation.

Mayor Greg Goodnight called the report welcome news for the City of Kokomo and said it is an indication that the city is heading in the right direction.

“We’re working hard to improve our community and make Kokomo a better place for residents and businesses,” Mayor Goodnight said. “Our local businesses have noticed our efforts and have invested in their Kokomo facilities and workforce. These investment decisions will positively impact our community for years and decades to come.”