Wabash County, IN (Nov. 15, 2019) – Wabash County’s per capita personal income for 2018 experienced an increase of 5.89% over the prior year, according to data released by The U.S. Bureau of Economic Analysis (BEA).
This growth equated to an increase of $2,438 in per capita personal income per capita, thwarting the regional and national growth averages for 2018. Per capita personal income is calculated as the total income received in our community (Wabash County) divided by the total population. Grow Wabash County and other economic development organizations, including the Northeast Indiana Regional Partnership use per capita personal income as tool to measure economic growth in our community.
Per BEA data provided by the Northeast Indiana Regional Partnership in a news release, the 11-county northeast region of Indiana saw an average growth of 4.73% per capita between 2017 and 2018, which amounts to an approximate increase of $2,021 in personal income per capita. Although this growth percentage is an improvement over the 3.38% increase for 2016-2017, the region’s average still appears to lag behind the national average of 4.94% growth per capita.
“Wabash County boasts the second-largest growth per capita in northeast Indiana,” said Keith Gillenwater, President & CEO of Grow Wabash County. “Our year over year growth surpassed both the state and national average. This is a testament to our all of our partners here – employers who are raising wages and reinvesting into their businesses, employees who are upskilling themselves to transition into higher wage jobs, government partners who support the new investment through incentives, and of course all of our other economic development partners who make Wabash County a great place to be.”
The encouraging numbers for Wabash County come as Grow Wabash County and the Community Foundation of Wabash County work to address population decline through the Imagine Wabash County initiative. “As we work to address population loss in Wabash County, we are thrilled by this data. This tells someone who may be considering moving to or coming back to Wabash County that our future is bright and that you can make a great living right here in our community.” Gillenwater said.
More information about per capita growth in northeast Indiana can be found here.