Dayton Daily News
Ohioans’ personal income on rise
Buckeyes’ per capita gains tied for 2nd highest in U.S. in 2012
By Cornelius Frolik 

Ohio’s per capita personal income rose at one of the fastest rates in the nation last year, another sign that the state’s economy is recovering more quickly than most of the country, according to data analyzed by the Dayton Daily News. 

Per capita personal income — which includes all earnings such as wages, dividends, interest income and rents — increased by 1.7 percent to $39,289 between 2011 and 2012. It was a larger increase than all but two other states. 

Ohioans on average have a little more money in their pocketbooks, and that leads to more spending, saving, repayment on debt and increased demand for goods and services. 

Incomes continue to benefit from the revival of the manufacturing industry and the emergence of the oil and gas sector, experts said. But future prosperity depends on the increasing diversity of Ohio’s industrial base. 

“It is good news that our per capita income is increasing at all, and it is even better news that it is increasing so fast,” said James Brock, professor of economics at Miami University. “Ohio for once is leading the country out of recession, rather than lagging it and being last to the recovery party… 

Read the rest of the article at the Dayton Daily News