FORT WAYNE – Per capita personal income in Northeast Indiana’s 11 counties continues to grow at a faster rate than in recent years, but that growth last year still lagged behind the nation.
Northeast Indiana grew at 4.73% compared to the nation’s rate of 4.94% from 2017 to 2018. The Northeast Indiana growth rate represents nearly 40% increase over the 3.38% growth in 2017.
LaGrange County had the lowest growth rate in the region at 2.36%. DeKalb County was next at 4.4%. Noble County 4.63% and Steuben County at 7.53%.
Increasing per capita personal income annually against the national average is one of the Northeast Indiana Regional Partnership’s three major goals to grow the regional economy and compete in the global marketplace. The Regional Partnership has established a goal to increase Northeast Indiana’s PCPI to 90% of the national average by the year 2030.
Regional economic developers in Northeast Indiana use PCPI as an economic indicator because it provides a historical regional trend that displays a consistent and comprehensive look at personal income with a national benchmark. In addition to wages, per capita personal income captures investments, entitlements like social security and other forms of income.
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