Personal income per capita increased in all 16 Central New York counties last year, according to new statistics on personal-income growth by county. The U.S. Bureau of Economic Analysis (BEA) issued the report on Nov. 16. The BEA defines personal income as “the income that is available to persons for consumption expenditures, taxes, interest payments, […]
Personal income per capita increased in all 16 Central New York counties last year, according to new statistics on personal-income growth by county. The U.S. Bureau of Economic Analysis (BEA) issued the report on Nov. 16.
The BEA defines personal income as “the income that is available to persons for consumption expenditures, taxes, interest payments, transfer payments to governments and the rest of the world, or for saving,” and per capita personal income as the personal income of an area divided by the area’s population.
Eight Central New York counties matched or exceeded the statewide average of 1.8 percent personal-income growth. Another two counties met or exceeded the 1.6 percent national rate.
Tioga County generated the highest growth rate, rising 2.3 percent, while Tompkins County grew the least, at 0.1 percent.
While the region fared well in terms of growth rate, the per capita personal income averages across all Central New York counties were well below the national figure of $49,246 and the statewide average of $59,563. Onondaga County had the highest personal income per capita in the region with $47,865, while St. Lawrence County’s figure of $34,364 was the lowest in the area.
Nationally, personal income per capita grew in 2,285 counties, fell in 795, and was unchanged in 33. Growth rates ranged from -40.8 percent in Kenedy County, Texas to 27.1 percent in Tillman County, Oklahoma. Per capita personal income averages ranged from $16,267 in Wheeler County, Georgia to $199,635 in Teton County, Wyoming.
