Roane Residents Earnings, Per Capita Income Increased
Wednesday May 07, 2008
Bureau of Economic Analysis (BEA), U.S. Department of Commerce reports the residents of Roane County are earning more and have a higher per capita income.
Despite the current economic downswing, a recent Bureau of Economic Analysis (BEA), U.S. Department of Commerce report over the period of 1996 - 2006 indicated the residents of Roane County are earning more and have a higher per capita income.
A recent BEA report disclosed that in 1996, the per capita personal income for Roane was $18,795, resulting in a placement of 34th amongst other Tennessee counties. In 2006, Roane had a per capita personal income of $29,074 and climbed in ranking to 20th in the state. Per capita income is a measure of how much money each individual receives of the yearly income that is generated in their state through productive activities. Components of personal income include net earnings by place of residence, dividends, interest, rent and personal current transfer receipts.
Roane County earnings increased 6.4% between 2005 and 2006, while the state change was 5.5% and national change 5.7%.
"A major goal of the Alliance since its formation was to bring the county's per capita income up to the state average," said Leslie Henderson, President/CEO, The Roane Alliance. "I feel very gratified that we have logged some of the top percentages increases in the state consistently over the past few years and that we are now at 90% of the state average. This is very good news for our county and really a cause to celebrate."
More information on the economy can be found on the BEA website at http://www.bea.gov/.
