Region’s income improving

November 23rd, 2013

News Coverage:

Region’s income improving

Posted: Saturday, November 23, 2013 12:00 am

Northeast Indiana’s economy has $1.2 billion more in personal income circulating than at this time last year, a new report says.

The U.S. Bureau of Economic Analysis released 2012 per capita personal income numbers this week. It said northeast Indiana is outpacing the nation by showing a 5 percent growth rate, compared to the national rate of 3.4 percent.

The Northeast Indiana Regional Partnership is tracking per capita personal income. It said in 2009, per capita income in northeast Indiana was 79 percent of the national average. Today, northeast Indiana has improved to 81.2 per of the U.S. average. Northeast Indiana’s figure is $35,509; the U.S. average is $43,735.

For the past several decades, per capita personal income in Northeast Indiana has been declining relative to the nation, but that trend has been effectively reversed in the past three years, the partnership said.

“Reversing this downward trend in per capita income is a great affirmation of our collaborative efforts here in the region,” said John Sampson, president and CEO of the Northeast Indiana Regional Partnership. “We are on the right track and making visible progress, but there is still much work to be done. We must continue to gain ground and close the gap to become the top global competitor we know this region can be.”

The partnership tracks its 10 member counties: Adams, Allen, DeKalb, Huntington, LaGrange, Noble, Steuben, Wabash, Wells and Whitley.