Per Capita Income Grows in Northern Indiana
SOUTH BEND - The South Bend-Elkhart Regional Partnership says per capita personal income grew at a rate of nearly 5.4 percent between 2016 and 2017, nearly 2 percent higher than the national rate. The five-county region saw more than $32.7 billion in total personal income last year.
Regina Emberton, chief executive officer of the South Bend - Elkhart Regional Partnership, says the region is continuing with its regional development strategy to enhance industry, entrepreneurship, workforce, talent, and inclusion. She says the goal is to match national per capita income by 2025.
"The South Bend - Elkhart Region is making strong advancements in growing jobs, increasing wages, and driving down unemployment to record-setting lows," Emberton said in a news release. "However, the key to long-term economic growth and community prosperity requires us to leverage the current momentum by making critical investments now to ensure economic sustainability."
The PCPI figures come from the U.S. Bureau of Economic Analysis. They are calculated as the total personal income of the residents of a given area divided by the population of that area. You can read more about the region's PCPI figures, including a breakdown by county, by clicking here.