Canyon County has the third highest rate of economic growth in Idaho, according to data released by New York financial technology company, SmartAsset.

Ada and Kootenai County ranked first and second, respectively, based on recorded changes in county gross domestic product over four years.

Canyon County also had the 59th largest economic growth nationally in terms of incoming investments.

The study ranked local economic growth in counties across the country by tracking the establishment of new businesses in each county, GDP growth, new building permits and federal funding.

Other findings from the report include:

BUILDING PERMITS:

• Canyon County had the fourth most new building permits in Idaho and 59th most nationally, with 26.6 permits for every 1,000 homes. Ada County had 28.5 and Madison County had 33.2.

NEW BUSINESSES:

• It also had the second-highest business growth at 7.8 percent, based on the number of businesses established in the county over a three-year period. Ada County only experienced a 5.5 percent growth in new businesses, with Gem County at 7.1 percent and Owyhee County at 5.6 percent.

FEDERAL CONTRACTS:

• Canyon County only fell significantly behind in the area of federal funding, ranking in the bottom half of Idaho counties with businesses receiving federal contracts. It was ranked 23rd out of the state’s 44 counties at $140 in federal investment per capita. In contrast, Bonneville County received $11,692 in federal funding per capita and Kootenai County received $5,330. Ada County ranked similarly low, receiving only $1,757 in federal contracts.