Northeast Indiana touts income growth in region
Posted: Friday, December 2, 2016
By Alex Brown, Multimedia Journalist
The Northeast Indiana Regional Partnership says data from the U.S. Bureau of Economic Analysis shows the 11-county region is outpacing the nation in per capita personal income growth for the sixth consecutive year. Northeast Indiana’s income increased 4.3 percent in 2015, compared to the national rate of 3.7 percent.
The region also outpaced the state’s per capita personal income growth rate, which was also 3.7 percent. The data says per capital personal income for northeast Indiana reached $39,937, which is 83 percent of the national per capital income average.
“The most recent data proves 2015 was another year for income growth in Northeast Indiana,” said Valerie Richardson, research associate at the Community Research Institute at IPFW. “Per capita personal income in the region compared to the nation has been steadily gaining ground, which is significant after seeing decades of decline in the region’s per capita personal income compared to the nation. This is indicative of a healthy labor market and bodes well for the local economy.”
John Sampson, chief executive officer of the Northeast Indiana Regional Partnership, says the numbers “affirm our work together to confront and overcome our region’s most difficult economic challenges.”