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By Rebecca Logan
Staff writer
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Personal income in Fayetteville grew by 7.7 percent last year — more than any other urban area in the state, and among the fastest growth in the country. The figures released today by the U.S. Bureau of Economic Analysis measures income per capita in the country’s 363 metro areas. For Fayetteville, which includes Cumberland and Hoke counties, the per capita income grew from $32,817 in 2006 to $35,353 in 2007. The area’s income has skyrocketed about 48 percent since 2001, when was $23,889 per capita. Fayetteville now ranks fifth in the state for income and is not that far behind No. 1 Charlotte, which was $39,004.
In terms of the percentage change, Fayetteville ranked 12th in the U.S.
The five fasting growing areas for income were in Louisiana and Mississippi — places boosted in part by federal payments to rebuild homes destroyed or damaged by Hurricane Katrina in 2005. Also in the Top 10 was Columbus, Ga., home to Fort Benning. The Jacksonville metro area, which is home to Camp Lejeune, also saw personal income grow dramatically with a 7.3 percent increase from 2006 to 2007, ranking the area second in the state behind Fayetteville. “I would think the common thread here is military,” said Michael Walden, a professor at at North Carolina State University and host of the radio show “Economic Perspective.” “There’s the increase in the military budget. And secondly, the changes that have taken place have favored the bases in North Carolina,” Walden said. “We’ve come out ahead ... and that’s why you’re seeing Fayetteville on the top of heap.”
By Rebecca Logan
Staff writer
[CENTER]ADVERTISEMENT
[/CENTER]
Personal income in Fayetteville grew by 7.7 percent last year — more than any other urban area in the state, and among the fastest growth in the country. The figures released today by the U.S. Bureau of Economic Analysis measures income per capita in the country’s 363 metro areas. For Fayetteville, which includes Cumberland and Hoke counties, the per capita income grew from $32,817 in 2006 to $35,353 in 2007. The area’s income has skyrocketed about 48 percent since 2001, when was $23,889 per capita. Fayetteville now ranks fifth in the state for income and is not that far behind No. 1 Charlotte, which was $39,004.
In terms of the percentage change, Fayetteville ranked 12th in the U.S.
The five fasting growing areas for income were in Louisiana and Mississippi — places boosted in part by federal payments to rebuild homes destroyed or damaged by Hurricane Katrina in 2005. Also in the Top 10 was Columbus, Ga., home to Fort Benning. The Jacksonville metro area, which is home to Camp Lejeune, also saw personal income grow dramatically with a 7.3 percent increase from 2006 to 2007, ranking the area second in the state behind Fayetteville. “I would think the common thread here is military,” said Michael Walden, a professor at at North Carolina State University and host of the radio show “Economic Perspective.” “There’s the increase in the military budget. And secondly, the changes that have taken place have favored the bases in North Carolina,” Walden said. “We’ve come out ahead ... and that’s why you’re seeing Fayetteville on the top of heap.”
That's good for me only because I have a house there that I rent. But I got the heck outta Fayetteville 3yrs ago because of lack of job opportunities and low pay. If you are not living off of the bloated defense industry payrolls or you don't run a small business or sell cars then Fayetteville SUCKS for jobs; always has...always will; and don't tell me anything else people....I grew up in Fayetteville and spent most of my life there. I've seen these Republican "war" economy booms before. It will pop later on and settle back down and Wal-Mart jobs will reign supreme as alwaysl!!!
I would not put too much stock in those figures. When places like Mississippi, etc. start ranking high on the list of anything you have to question it. a one year windfall in combat pay does not mean F-ville is hitting the jackpot. I mean it's good for the people that are temporarily making more money, but it will not solve the problem that F-ville has with lacking good jobs.
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