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Dayton Business Journal...
Ohio ranks last for
income growth
by G. Scott Thomas, DBJ Contributor
Monday, May 23, 2011
Ohio ranks dead last among the 50 states for income growth during the
past half-century, according to an analysis of U.S. Bureau of Economic
Analysis data.
Ohio’s disposable income grew at an annual rate of 5.9 percent per year
between 1960 and 2010.
The analysis was conducted by The Business Journals, online arm of the
Dayton Business Journal’s parent company, American City Business
Journals Inc. The study analyzed U.S. data for disposable income —
money earned by residents of a state in a given year minus income and
property taxes.
Nevada and Arizona top the list.
Nevada’s disposable income grew at an annual pace of 10.1 percent
between 1960 and 2010, easily the fastest rate in the country.
The only other state above 9 percent was Arizona, which posted a
50-year income growth rate of 9.3 percent per year. Rounding out the
top five were Florida, Texas and Colorado.
The nation’s disposable income grew at an annual rate of 7.1 percent
during the study period, ballooning from $362 billion in 1960 to $11.4
trillion in 2010.
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