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Saturday, May 05, 2001

Area income grows slower than national average


Biggest increases clustered in West

By John J. Byczkowski
The Cincinnati Enquirer

        Personal income growth in 1999 in Greater Cincinnati failed to beat the national average for the sixth time in nine years, the federal Bureau of Economic Analysis reported this week.

        Total income in the region — every cent earned by every worker, investor or person receiving government payments — grew 5.0 percent to $49 billion in the 12-county Greater Cincinnati area. The total was second highest among 25 metro areas in Ohio, Indiana and Kentucky — behind Cleveland — but growth ranked only eighth-highest.

        Only the 5.9 percent growth in income in Elkhart-Goshen, Ind., topped the national metro average of 5.6 percent. Just five cities in the region tied or beat the overall national average gain of 5.4 percent.

        Greater Cincinnati's per-capita income was $30,105, up 4.4 percent. The income figure is higher than the national average of $28,546 — and ranked No. 62 among 318 cities. But growth was slower than the average of 4.5 percent.

        Ranking the cities with the fastest-growing personal income, all were in the West, and six were in California. The BEA said incomes rose most in 1999 in cities with strong growth in “New Economy” companies. San Jose led the nation with 15.8 percent growth in personal income, followed by Austin, Texas (up 11.8 percent) and Seattle (up 10 percent).

        San Francisco led the nation in per-capita income, at $49,695, followed by San Jose and New Haven-Bridgeport-Stamford-Danbury-Waterbury, Conn.

       



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