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Elizabethtown Leads Nation in Personal Income Growth

By wmadministrator

An influx of military personnel to nearby Fort Knox has given a boost to the construction industry in and around Elizabethtown.

Personal income in the two-county  Elizabethtown MSA grew 10.1 percent in 2010, giving it the distinction of having the highest level of personal income growth in the nation, according to statistics released by the U.S. Bureau of Economic Analysis.

Personal income rose in 2010 in all but four of the nation’s 366 metropolitan statistical areas (MSA), rising an average of 2.9 percent in 2010 after falling 1.9 percent in 2009. Inflation, as measured by the national price index for personal consumption expenditures, accelerated 1.8 percent in 2010 from 0.2 percent in 2009.

In the four MSAs recording the greatest personal income growth rates in 2010 – Elizabethtown; Lawton, Okla.; Manhattan, Kan.; and Hinesville, Ga. – government earnings growth, particularly for the military, was strong. Of these four communities, military earnings grew 14 percent or more in 2010.

Growth rate percentages for other Kentucky MSAs were: Bowling Green, 3.4; Northern Kentucky/Cincinnati, 2.6; Fort Campbell/Clarksville, Tenn., 5.2; Henderson/Evansville, Ind., 3.2; Ashland/Huntington, W. Va., 3.0; Lexington, 2.0; and Louisville, 3.2.