The U.S. Department of Commerce’s Bureau of Economic Analysis reported that Naples-Marco Island ranked second in the country for personal income in 2008. The per-capita income grew slightly by 1.7 percent last year to $64,349, up from $63,276 in 2007. In the metro area total income was about $20.3 billion, up 2.2 percent from $10.8 billion in 2007.
The number one ranking went to Bridgeport-Stamford, Conn. with $82,266 per-capita income.
Per-capita income is the total income, from wages to investments, of all residents divided by the population.
“Cape Coral-Fort Myers ranked 52nd in the country for its personal income. Per-capita income declined 0.4 percent to $41,766 in 2008 in the area, down from $41,954 a year ealier. Total personal income was about $24.8 billion, up 0,4 percent from nearly $24.7 million in 2007.”
In most metro areas in the nation personal income growth slowed last year. It grew on average 3.3 percent, down from 6 percent in 2007.
The following metro areas saw their personal income fall last year: Dalton,Ga.,Monroe,Mich.,Elkhart,Ind.,Kokomo,Ind. and Gulfport,Miss. In large metro areas, with populations of at least 1 million,the following were the slowest growing: Jacksonville, Fl.,Tampa,Fl.,San Jose,Calif.,Phoenix,Arizona and Detroit,Michigan.