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Hershman: Hoosier Personal Income Growth Top 10 in Nation

STATEHOUSE (March 28, 2017) – Indiana’s personal income growth ranked seventh-highest in the nation for 2016, State Sen. Brandt Hershman (R-Buck Creek) announced.

According to the Bureau of Economic Analysis (BEA), Indiana’s per-capita personal income grew 3.6 percent in 2016. Indiana’s growth out-ranked all neighboring states, with Michigan ranking 10th, Illinois ranking 12th, Ohio ranking 26th, and Kentucky ranking 34th.

“Indiana continues to outshine our neighbors and lead the nation in demonstrating what it means to be A State that Works,” Hershman said. “Indiana’s 2016 personal income growth was 3.6 percent, surpassing the national average of 2.9 percent. Our fiscally responsible policies are having a real-world effect on the lives of Hoosiers across the state.”

This follows the most recent report from the Indiana Department of Workforce Development, which shows Indiana’s unemployment rate is at 4.1 percent, holding below the national average of 4.7 percent. Hershman added that unemployment insurance claims are at their lowest point in over three decades, and that Indiana’s private sector jobs now total over 67,300 more than the March 2000 peak employment levels.

Hershman noted the state’s taxpayer-friendly policies have contributed to these accomplishments.

“In Indiana, we have cut income taxes for every working Hoosier, put caps on property taxes, repealed the inheritance tax, eliminated the business personal-property tax for half of all filers, and cut taxes for corporate and financial institutions,” Hershman said. “These cuts are attracting employers and high-paying jobs for Hoosiers, and allowing our citizens to take home more of their hard-earned pay. I will continue to advocate for policies that make our state a great place to live and work.”

Click here for more information on the BEA.

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For a photo of Sen. Hershman, click here.

Contact: Molly Swigart, Press Secretary
molly.swigart@iga.in.gov
317-232-9498