Friday, December 15th, 2017

Region reverses income trend

Posted: Tuesday, November 27, 2012

Source: Northeast Indiana Regional Partnership

The U.S. Bureau of Economic Analysis released 2011 data on per capita personal income on Monday, November 26, and it is good news for Northeast Indiana. Northeast Indiana’s per capita personal income as a percentage of U.S. 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.