BISMARCK, N.D. – For the sixth time in the last seven years, North Dakota has recorded the strongest personal income growth among all states, the U.S. Bureau of Economic Analysis (BEA) reported today.
North Dakota’s average personal income increased 7.6 percent last year while the nation averaged 2.6 percent growth. Utah ranked second in the nation with 4 percent growth in personal income, according to the BEA.
“These latest statistics are more evidence that our efforts to create jobs and career opportunities are getting results,” Gov. Jack Dalrymple said. “We are enjoying economic growth in all regions of the state and our income growth stems from nearly every business sector.”
North Dakota’s average, per-capita personal income increased to $57,084 last year, more than double the state’s per-capita income of $25,592 in 2000. North Dakota’s 2013 overall income level is the second highest in the nation and 128 percent of the national average, according to BEA statistics.
The BEA report shows that North Dakota’s income growth is tied to many business sectors including agriculture, construction, energy development, manufacturing and retail trade.
The complete BEA report is available at http://www.bea.gov/index.htm