Bonners Ferry Local Guide including all of Boundary County Idaho

Growth sparks rise in income

Tuesday, March 27, 2007; CDAP

Idaho personal income hit a growth spurt in the final three months of 2006, helping maintain the state ranking as one of the top states nationally for income growth. State personal income doubled its summer pace in the fourth quarter of 2006. Idaho ended up ranking sixth in growth for 2006, behind Louisiana, Montana, Nevada, North Dakota and South Dakota, according to the U.S. Bureau of Economic Analysis. Since per capita income is determined by dividing total income by the state's population, Idaho's numbers were somewhat diluted by a burgeoning population, said Bob Fick, public affairs officer with Idaho Commerce and Labor. "It (fast-growing population) keeps us down in the 42 and 43 level of rankings," Fick said. Idaho personal income -- which is defined as the total of all wages, business owner profits, investments earnings and transfer payments -- grew at an annualized rate of 1.5 percent from October to December compared to .8 percent growth during the previous three months. Idaho's per capita income growth percentage was the same in 2006 as 2005, but Idaho's ranking dropped from 42 to 43 nationally. Fick said Idaho's ranking drop was only because Louisiana moved up as people moved back to that state as it continues to recover from Hurricane Katrina. - Full Story