Policy Analysis | July 2011
What changes have SLC states seen in annual income rates over the past 50 years?
Disposable income, defined by the U.S. Department of Commerce as all money earned by all residents of a state in a given year, minus all income taxes and property taxes, has risen at an annual rate of 7.88 percent in the SLC region, compared to the national rate of 7.14 percent. Within the SLC, Florida experienced the fastest increase (9.02 percent per year), whereas disposable income in West Virginia grew the slowest (6.20 percent per year).
Average Annual Growth Rate of Disposable Income in SLC Member States and Region, 1960-2010
(click on headers to sort by column)
| State | 1960 | 1970 | 1980 | 1990 | 2000 | 2010 | Annual Growth Rate (1960-2010) |
|---|---|---|---|---|---|---|---|
| Alabama | 4,594,145 | 9,183,936 | 27,126,560 | 56,468,172 | 95,076,568 | 149,904,988 | 7.22% |
| Arkansas | 2,303,101 | 4,918,218 | 15,337,530 | 30,466,715 | 53,655,678 | 89,129,913 | 7.59% |
| Florida | 9,117,785 | 24,365,448 | 86,119,314 | 226,749,898 | 407,470,918 | 684,611,189 | 9.02% |
| Georgia | 6,026,948 | 13,768,792 | 40,583,679 | 100,453,337 | 202,508,868 | 315,033,052 | 8.23% |
| Kentucky | 4,438,294 | 9,080,056 | 26,282,508 | 50,033,667 | 87,964,482 | 132,463,737 | 7.03% |
| Louisiana | 4,999,925 | 10,173,438 | 32,388,150 | 57,781,395 | 94,173,887 | 159,896,187 | 7.18% |
| Mississippi | 2,476,159 | 5,287,528 | 15,915,984 | 30,787,540 | 55,516,465 | 86,512,557 | 7.37% |
| Missouri | 8,427,554 | 15,837,946 | 39,987,891 | 79,456,439 | 136,425,998 | 202,503,716 | 6.57% |
| North Carolina | 6,730,135 | 14,708,172 | 42,234,447 | 100,923,661 | 195,950,150 | 310,542,398 | 7.96% |
| Oklahoma | 4,037,052 | 7,951,860 | 25,116,579 | 44,617,974 | 75,031,048 | 125,658,073 | 7.12% |
| South Carolina | 3,123,724 | 7,121,436 | 21,439,154 | 49,171,833 | 89,182,548 | 142,057,606 | 7.93% |
| Tennessee | 5,278,966 | 11,152,902 | 33,922,750 | 73,436,061 | 136,937,882 | 210,345,583 | 7.65% |
| Texas | 16,887,978 | 36,141,237 | 122,640,886 | 263,742,047 | 527,136,382 | 914,149,460 | 8.31% |
| Virginia | 6,746,031 | 15,226,057 | 46,878,960 | 110,256,406 | 190,257,505 | 321,528,073 | 8.03% |
| West Virginia | 2,747,417 | 4,809,107 | 13,808,964 | 23,138,112 | 35,805,396 | 55,547,358 | 6.20% |
| SLC | 87,935,214 | 189,726,133 | 589,783,356 | 1,297,483,257 | 2,383,093,775 | 3,899,883,890 | 7.88% |
| United States | 362,195,000 | 729,812,000 | 1,994,796,000 | 4,239,944,000 | 7,323,689,000 | 11,364,177,184 | 7.14% |
Sources:
Regional Economic Information System, Bureau of Economic Analysis, U.S. Department of Commerce
http://www.bea.gov/regional/docs/footnotes.cfm?tablename=SA51-53
Regional Economic Information System
Bureau of Economic Analysis
'March 2011'
Thomas, Scott. "Nevada, Arizona are big winners in income growth during half-century." The Business Journals, May 23, 2011. Last accessed on July 1, 2011.