N.D.’s per capita personal income up 9 percent

BISMARCK (AP) — The state Commerce Department says North Dakota’s per-capita personal income rose 9 percent last year, to about $39,000.

The department said preliminary federal estimates show it was the country’s largest percentage gain in per-capita personal income for the year.

The national average for per-capita personal income was $39,571 last year, up 2.9 percent. The Commerce Department said North Dakota’s figure is at 99 percent of the national average.

North Dakota’s energy and agriculture sectors have been credited with boosting income in the state.

Officials said the 2008 increase is down from the state’s 2007 percentage increase of 11.9 percent.

North Dakota also had the largest percentage increase in disposable per-capita personal income, at 9.9 percent in 2008 compared to 11.9 percent in 2007, Monday’s report said. Disposable personal income refers to personal income minus personal current taxes.

The faster growth is mainly due to federal income tax rebates, the Commerce Department said.

Tags: news, income, property, economy, money