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Mankato – North Mankato MSA Leads State in Income Growth

Mankato, MINN (July 11, 2017) – The Bureau of Economic Analysis recently released the figures for 2015 Real Personal Income. The Mankato-North Mankato MSA led the Minnesota MSAs in growth in both Real Personal Income and Per Capita Personal Income. “Real” means the figures account for inflation by using 2009 dollars. Mankato-North Mankato grew by 5.43% from 2014-2015 and 11.86% from 2011 to 2015.

 

Real personal income (thousands of chained (2009) dollars)

MSA

2011

2014

2015

2014-2015 % Change

2011-2015 % change

Mankato-
North Mankato, MN

$3,978,312

$4,221,077

$4,450,193

5.43%

11.86%

St. Cloud, MN

$7,155,942

$7,673,026

$7,992,272

4.16%

11.69%

Minneapolis-
Saint Paul MN

$153,802,934

$167,323,150

$174,074,033

4.03%

13.18%

Rochester, MN

$9,433,390

$9,862,887

$10,247,575

3.90%

8.63%

Duluth, MN

$11,193,669

$11,395,882

$11,733,864

2.97%

4.83%

 

In terms of Real Per Capita Personal Income, Mankato-North Mankato grew by 5.03% from 2014-2015 and 9.81% from 2011 to 2015.

Real per capita personal income (chained (2009) dollars)

MSA

2011

2014

2015

2014-2015 % Change

2011-2015 % change

Mankato-
North Mankato, MN

$40,880

 $42,743

 $44,891

5.03%

9.81%

Rochester, MN

$45,243

 $46,376

 $47,914

3.32%

5.90%

Minneapolis-
Saint Paul MN

$45,375

 $47,866

 $49,389

3.18%

8.85%

St. Cloud, MN

$37,639

 $39,844

 $41,109

3.17%

9.22%

Duluth, MN

$39,999

 $40,702

 $41,966

3.11%

4.92%

 

These figures are likely to continue to lead the state as other economic metrics covering more recent timeframes show employment rising in manufacturing, which on average pays a higher wage than the regional average.

Find the official release here: https://www.bea.gov/newsreleases/regional/rpp/rpp_newsrelease.htm

Personal income is the income received by all persons from all sources. Personal income is the sum of net earnings by place of residence, property income, and personal current transfer receipts. These are current dollar estimates. Comparisons for different regions and time periods reflect changes in both the price and quantity components of regional personal income.

Estimates of personal income in the United States are derived as the sum of the regional estimates. These differ from the estimates of personal income in the national income and product accounts (NIPAs) because of differences in coverage, in the methodologies used to prepare the estimates, and in the timing of the availability of source data.

 

Contact:

John Considine, 507.385.6640


The Greater Mankato Growth, Inc. Family: Visit Mankato City Center Partnership