Per Capita Income Grows in South Bend – Elkhart Region, Outpaces National Rate

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SOUTH BEND, Ind. (February 1, 2024) – Per capita personal income (PCPI) in the South Bend – Elkhart region grew 2.78 percent in 2022 from 2021, according to U.S. Bureau of Economic Analysis (BEA) data. The region outpaced the national rate of 1.61.

“The South Bend – Elkhart region continues to steadily climb closer to the national average, with our region’s per capital personal income now reaching 88 percent of the national figure,” said Bethany Hartley, President and CEO of the South Bend – Elkhart Regional Partnership. “Interestingly, when the low cost of living of our area is taken into consideration, the value jumps to more than 97 percent of the national value. As we continue to invest in strategies to hit or exceed the national average PCPI, our affordability of the region has a huge impact on the wallet.”

More than $42 billion of total personal income circulated in the South Bend – Elkhart region’s five counties in 2022. That was an increase of more than $922 million of total personal income compared to 2021, resulting in a $1,560 increase in per capita personal income.

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.

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 nearly 730,000 residents. The full release on the BEA website shows numbers across the country.

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About South Bend – Elkhart Regional Partnership

The South Bend – Elkhart Regional Partnership is a collaboration of 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 South Bend – Elkhart Regional Partnership seeks to unify and collaborate so that together, the communities across the region work together to achieve what cannot be done individually. For more information about the Regional Partnership, visit SouthBendElkhart.org.

Media Contacts

Liz Folkerts
South Bend – Elkhart Regional Partnership
lfolkerts@southbendelkhart.org