Mankato regional income growth fastest in MinnesotaMANKATO, Minn. (AP) — Personal income has been growing faster in the Mankato region than in any other metropolitan area in Minnesota.
MANKATO, Minn. (AP) — Personal income has been growing faster in the Mankato region than in any other metropolitan area in Minnesota.
Per-capita personal income grew 13 percent in Blue Earth and Nicollet counties from 2010 to 2012, The Free Press reported Friday, a growth of $4,639 per person. The St. Cloud area saw an 11 percent increase, Rochester a 6.6 percent increase, Duluth a 9 percent increase and the Twin Cities a 9 percent increase in the same period. The figures come from the latest report by the U.S. Department of Commerce Bureau of Economic Analysis.
Per-capita personal income for the Mankato region was $40,052 in 2012, higher than in St. Cloud and Duluth but below the $45,702 in Rochester and the $50,260 in the Twin Cities.
Farm income soared around the state over the period. Total farm income in the Mankato region grew 78 percent from 2010 to 2012, to $290 million. Farm income growth in the St. Cloud area was also 78 percent and it grew by 103 percent in the Rochester area.
"The steady and aggressive rise of wealth generation experienced in the region is yet another indicator of the success of both our businesses and residents" Greater Mankato Growth President and CEO Jonathan Zierdt said in a statement.