Summit tops in per-capita income
The U.S. Department of Commerce's Bureau of Economic Analysis estimated that the per-capita income in Summit County was $57,725 — nearly double the per-capita average for the state, which in 2006 was $29,406. The per-capita income in Salt Lake County was $34,951 in 2006, and in Davis County, it was $30,455.
San Juan County, in southeastern Utah, was the poorest, with a per-capita income of $16,569.
Preliminary figures for 2007 show a slight increase in Utah's per-capita income, to $31,189. In 2006, Utah ranked 48th lowest in the nation in per-capita income. In 2007, preliminary figures showed Utah ranked 45th.
The data is 18 months old because the Bureau of Economic Analysis has to collect income and demographic information from 3,111 counties throughout the nation, said Steve Dolan, a program support specialist with the bureau.
Per-capita income isn't the same as average personal income. Per-capita income is calculated by dividing the total of all personal incomes by the population of a county — including people who do not work.
"Having larger families would, to an extent, drive per-capita income down," Dolan said. "But having a larger family would also drive your standard of living down slightly, because children cost a lot of money to raise. That's part of the equation, as well."
For the study, the bureau collected data primarily from the Internal Revenue Service and unemployment insurance forms that companies submit to the government, Dolan said.
Pam Perlich, senior research economist at the University of Utah's Bureau of Economic and Business Research, was not surprised that Summit County's per-capita income was the state's highest.
"We're talking Park City," she said. "Think Summit Park. Think Jeremy Ranch."
Summit County residents tend to have professional jobs in Salt Lake City, she said. They tend to be older and have fewer children than the rest of the state.
Because the national economy has cooled in recent months, Perlich said that if the Bureau of Economic Analysis' survey were taken now, the per capita income growth would not be as high as it was from from 2005 to 2006, when it increased 5 percent. Some professions may see a decrease in income, she said.
"Probably, we would see downward pressure (in incomes)," Perlich said. "We know what's happening with the real estate. Income to realtors is down. Income to construction contractors is down. Retail sales are going to slow. Car sales are down."
E-mail: lhancock@desnews.com
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