Danville area income outpaces nation's average
DANVILLE — Per-capita income in the Danville metro area continues to grow at a rate faster than the national average, according to data released Monday by the U.S. Bureau of Economic Analysis.
For the fourth straight year, per-capita income growth in the Danville area exceeded the national growth rate.
In 2011, per-capita income was $32,619, up 4.59 percent from $31,187 in 2010. The national average was up 4.26 percent.
Danville's growth rate for per-capita income ranked 136th among 366 metro areas — far better than Champaign-Urbana's rank of 306th.
Last year, farm earnings were way up, as were earnings from manufacturing of motor vehicle bodies, trailers and parts and transportation equipment.
Earnings from construction and the military were down, but earnings from performing arts, spectator sports, amusements and recreation were up substantially.
Danville remains toward the nation's lower end in per-capita income, placing 292nd out of the 366 areas.
Over the years, its position relative to other metro areas has steadily improved. In 2007, it ranked 345th. Since then, it climbed to 311th in 2008, 303rd in 2009, 293rd in 2010 and 292nd in 2011.
Per-capita income is calculated by dividing a metro area's personal income by the area's population.
Total personal income for the Danville metro area was listed as $2.658 billion in 2011, and the population was estimated at 81,588.
Population for the area was estimated to have declined by 0.10 percent in 2011. That rate ranked 318th out of the nation's 366 metro areas.