Region Reverses Income Trend
Region Reverses Income Trend
Per capita personal income in northeast Indiana rose slightly in 2011, after nearly two decades of decline. Northeast Indiana Regional Partnership Chief Executive Officer John Sampson says the number shows the organizations efforts to make the region "relevant in the global marketplace" are paying off. He says the group will continue to focus on the area's education, entrepreneurship and quality of life.
November 26, 2012
FORT WAYNE, Ind. - Today the U.S. Bureau of Economic Analysis released 2011 data on per capita personal income, and it's good news for Northeast Indiana. Northeast Indiana's per capita personal income as a percentage of US per capita personal income is up. In 2010, Northeast Indiana residents made only 79.4 percent on the dollar and, in 2011, that number rose to 79.9 percent.
"We now have three years of data that indicate that we have arrested the decline in per capita personal income," said John Stafford, director of the Community Research Institute (CRI) at Indiana University-Purdue University Fort Wayne (IPFW). "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."
Regional leaders behind the Vision 2020 initiative have used the per capita personal income chart as a call to arms for the region. The main goal behind the initiative is to reverse the decline in per capita income relative to the US.
"Regional leaders have cause to celebrate today as we now have data that shows that the regional collaboration here is making a difference," said Mike Packnett, president and CEO of Parkview Health and chairman of the Northeast Indiana Regional Partnership's governing board. "We are truly changing the story of Northeast Indiana, and this is just the beginning." Packnett is also a member of the Regional Opportunities Council, which oversees the Regional Partnership's Vision 2020 initiative.
The Northeast Indiana Regional Partnership was formed in 2006 to help build a globally competitive economy in Northeast Indiana. It is a public-private partnership focused on generating business leads and building regional capacity through product development and effective regional collaboration. In 2010, the Partnership launched Vision 2020 to bring the region together around five key areas (the five pillars) for economic growth: 21st Century Talent, Competitive Business Climate, Entrepreneurship, Infrastructure and Quality of Life. Through its combined efforts in business development and capacity building, the Partnership supports its 10 member counties: Adams, Allen, DeKalb, Huntington, LaGrange, Noble, Steuben, Wabash, Wells and Whitley. For more information, visit www.NEIndiana.com.
Source: Northeast Indiana Regional Partnership'