SOUTH BEND, Ind. — Earlier this month, the U.S. Bureau of Economic Analysis (BEA) released 2017 per capita personal income (PCPI) numbers and the South Bend – Elkhart Region (SBE Region) grew at 5.36 percent from 2016 to 2017, compared to the nation’s rate of 3.63 percent.
More than $32.7 billion of total personal income circulated in the South Bend – Elkhart Region’s five counties in 2017. That was an increase of over $1.7 billion of total personal income compared to 2016, resulting in a $2,290 increase in per capita personal income. The region’s 2017 per capita personal income was $45,002, 87.14 percent of the national per capita personal income.
“The South Bend – Elkhart Region is making strong advancements in growing jobs, increasing wages, and driving down unemployment to record-setting lows,” said Regina Emberton, president and CEO of the South Bend – Elkhart Regional Partnership. “However, the key to long-term economic growth and community prosperity requires us to leverage the current momentum by making critical investments now to ensure economic sustainability.”
Emberton said the SBE Region has been forging ahead with the “Ensuring Prosperity” Regional Development Strategy to enhance the five pillars of Industry, Entrepreneurship, Workforce, Talent, and Inclusion, with a goal of matching national per capita income by 2025.
Per capita personal income is calculated as the total personal income of the residents of a given area divided by the population of the area. Personal income includes wages, dividends, interest earnings, home rental and business income, and government benefits such as Social Security. In computing per capita personal income, BEA uses Census Bureau midyear population estimates.
|
2011
|
2012
|
2013
|
2014
|
2015
|
2016
|
2017
|
% Change from 2016
|
|
|
Elkhart County, IN
|
$32,236
|
$34,638
|
$35,575
|
$38,216
|
$39,865
|
$41,818
|
$44,143
|
5.56%
|
| Marshall County, IN |
$33,041
|
$33,959
|
$35,158
|
$36,180
|
$36,777
|
$38,169
|
$40,335
|
5.67%
|
| St. Joseph County, IN |
$36,552
|
$38,507
|
$38,946
|
$40,964
|
$43,437
|
$43,695
|
$46,118
|
5.55%
|
| Berrien County, MI |
$37,433
|
$37,714
|
$38,208
|
$40,044
|
$42,374
|
$43,998
|
$46,133
|
4.85%
|
| Cass County, MI |
$34,054
|
$34,858
|
$35,773
|
$37,258
|
$39,140
|
$41,360
|
$43,379
|
4.88%
|
|
South Bend – Elkhart
Region (5 Counties)
|
$35,147
|
$36,707
|
$37,378
|
$39,426
|
$41,473
|
$42,711
|
$45,002
|
5.36%
|
| % of National |
82.26%
|
82.34%
|
83.38%
|
83.84%
|
84.74%
|
85.71%
|
87.14%
|
The South Bend – Elkhart Region includes Elkhart, Marshall and St. Joseph counties in northern Indiana and Berrien and Cass counties in Michigan; a geographic region with over 725,000 residents. The full release on the BEA website shows numbers across the country.
About South Bend – Elkhart Regional Partnership
The South Bend – Elkhart Regional Partnership is a collaboration of the economic development partners from 47 smart connected communities in Northern Indiana and Southwest Michigan. The Regional Partnership focuses on a long-term systemic approach to advance the region’s economy by aligning the efforts of various stakeholders around five key areas: Educating a world-class WORKFORCE, Recruiting and retaining great TALENT, Attracting and growing new economy companies in complement to our remarkably strong manufacturing INDUSTRIES, Promoting INCLUSION and sparking opportunities for minorities and Helping ENTREPRENEURS thrive. The Regional Partnership seeks to unify and collaborate so that together, the communities across the region to work together to achieve what cannot be done individually. For more information about the Regional Partnership, visit SouthBendElkhart.org.
###
Media Contact:
Regina Emberton
South Bend – Elkhart Regional Partnership
574.400.5432
remberton@soutbendelkhart.org