Wabash County, IN (Dec. 17, 2019) – Wabash County was identified as one of the top 10 most financially healthy counties in the state of Indiana for 2019 by SmartAsset, a financial technology company based in New York.
SmartAsset listed Wabash County as the 10th most financially healthy county in Indiana, with a Financial Health Index score of 79.03, based on criteria that included: debt as a percentage of income, bankruptcies, as well as the county’s poverty rate and unemployment rate.
“We love to see these studies come out that confirm what we already know about Wabash County – it’s a great place to be,” Keith Gillenwater, president and CEO of Grow Wabash County, said. “This list, which shows Wabash County as being one of the most financially healthy counties in the State when taking bankruptcies, debt as a percent of income, and unemployment and poverty rates into consideration shows that Wabash County is a great place to live, to invest, and to do business.”
The data reported in the survey shows that, by SmartAsset’s calculations, Wabash County has a rate of 0.84% for debt as a percentage of income, 2.26 bankruptcies occurring per 1,000 people, a poverty rate of 13.30—which was equal with the calculated average for the state—and an unemployment rate of 3.5%.
“The efforts by the City of Wabash and its partner organizations is clearly paying dividends,” Wabash Mayor Scott Long, said. “We strive to continually improve our city, county, and surrounding towns.”
Bankruptcies were weighed heaviest in the financial health index, per SmartAsset’s methodology, accounting for 40% of the score. Debt as a percentage of income, which was determined by dividing the county’s debt per capita by its income per capita, was also taken heavily into consideration by SmartAsset, accounting for 25% of the county’s final index score.