CHARLESTON, W.Va. – West Virginia moved up in the national ranking of 2009 per capita income. Recent figures from the U.S. Bureau of Economic Analysis (BEA) place the state in 47th position, an improvement over its 49th place showing in 2008.
West Virginia’s personal income growth expanded while the national average fell 2.6 percent. “Across states, per capita personal income fell as much as 6.0 percent in Nevada and grew as much as 1.8 percent in West Virginia,” stated the BEA report, dated Sept. 20, 2010.
“The increase in per capita income is one of several recent signs that West Virginia’s economy has held onto a stronger position during the recession compared to other states,” said Commerce Secretary Kelley Goes.
West Virginia’s exports reached $3 billion in the first half of 2010, an increase of 39.5 percent compared to the same time period in 2009. That outpaced the U.S. export growth rate of 23.8 percent for the same period.
Per capita income is personal income divided by a state’s total population. It does not reflect average wage.
Connecticut took top rank, followed by New Jersey in the second spot and Massachusetts in third place. Idaho ranked 48th, followed by Utah in 49th and Mississippi in 50th place.
In addition to the BEA report, in West Virginia general revenues reached $380.5 million in September, 2010, exceeding projections by 8 percent, Deputy Revenue Secretary Mark Muchow said.
“Based upon personal income statistics for 2010 thus far, I would expect some additional improvement for the state relative to the nation in 2010,” Muchow said.
Contact: Catherine Zacchi, 304-957-9340