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Partnership: Region stops per-capita income slide

November 27th, 2012

News Coverage:

Partnership: Region stops per-capita income slide

Staff Reports

Tuesday, Nov. 27, 2012 at 10:05am

A steady per-capita personal income decline in northeast Indiana, relative to the same data for the entire country, has been arrested and reversed after lasting about 15 years.

That conclusion is based on U.S. Bureau of Economic Analysis data released Monday showing the region’s per-capital personal income relative to that of the United States had risen to 79.9 percent last year, up from 79.4 percent in 2010.

A statement on the data by the Northeast Indiana Regional Partnership said reversing the trend had been the main goal of the Vision 2020 initiative to grow the region’s economy while improving its business environment and quality of life.

"We now have three years of data that indicate that we have arrested the decline in per-capita personal income," John Stafford, director of the Community Research Institute at Indiana University-Purdue University Fort Wayne, said in the statement.

"Since 1994, the percentage has been declining, and we now have reason to believe that we have turned the corner. We must stop the decline before we can begin the trek upward, and that is what this new data shows us is happening."  

Vision 2020 was launched by the regional partnership in 2010. Mike Packnett, president and chief executive officer of Parkview Health, is chairman of the partnership’s governing board and a member of the Regional Opportunities Council. The council oversees Vision 2020.

"Regional leaders have cause to celebrate today as we now have data that shows that the regional collaboration here is making a difference," Packnett said. "We are truly changing the story of northeast Indiana, and this is just the beginning."