Per capita personal income in the South Bend-Elkhart Region grew at more than double the national average in 2016, according to numbers released recently by the U.S. Bureau of Economic Analysis. Personal income in the region increased by $1 billion, resulting in a $1,436 per person increase in personal income.
“This is the one metric that economic development corporations around the country use to measure the economic health as it’s a strong indicator of how the area is doing,” said Jeff Rea, South Bend Regional Chamber President & CEO.
Rea added “Generally, the per capita personal income had declined for 18 straight years until 2010, when it started to gradually increase. In previous years, the region had lagged behind the national average for growth but in 2016, we outpaced it! We are excited about the direction this is headed and believe it is a strong indicator of the success of our economic recovery.”