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.
Comair pilots to vote on deal
Comair strike at a glance
Fears of recession rekindled
Free trade has been trade-off for Cincinnati
N.Ky. gas bills could increase
Area income grows slower than national average
Taft: Ohio penalized for ethanol use
New perk for college alums: a lifetime e-mail address
HIGGINS: Personal finance
Savvy Strategies
SBA offers riot loans to businesses
Southwest claims raw deal on Web
Business Digest
Tristate Business Summary
What's the Buzz?