Thrive West Central looks to grow region’s economy by analyzing per capita personal income data

Thrive West Central looks to grow region’s economy by analyzing per capita personal income data

Them to be out.

Thrive west central in terre haute is working on ways to grow the region's economy.

Over the past several months..

They've been analyzing data concerning the wabash valley's per capita personal income.

News 10's dominc miranda spoke with the agency's executive director.

He joins us now *live* in our newsroom with more on what they've learned from the data.

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Every november... the u.s bureau of economic analysis releases data on different regions' per capita personal income.

That measures the amount of money earned per person.

Ryan keller at thrive west central spoke with me about where the wabash valley stands... and how our area can improve.

Over the past 6 months...'

Thrive west central has been analyzing the wabash valley's numbers.

Keller says this gives them a good idea of the health of the region.

"how are we comparing on a competitive market to other regions around ours and also to bigger cities.

What are we looking at on a personal income basis.'

The data is typically a year behind.

West central indiana region's per capita personal income was just over 38 thousand dollars in 20-19 that's growth of 3 point 2 percent from 20-18 however... the region's total p-c-p-i is about 21 percent below indiana's percent below indiana's average of over 48 thousand dollars.

Keller says this could be a good indicator as to why the wabash valley's population is declining..... and tells him that businesses have to try different things.

However... he also says this is an opportunity for development and collaboration in the wabash valley.

"how do we start to work together and see that all things are intertwined.

That a company coming into sullivan county, for example, is still really good for all those surrounding counties.

A company coming into clay is really good for the whole entire region.

In parke, in vermillion, in vigo, in putnam--it's good for everyone."

Keller says bottom line... is that increasing west central indiana's p-c-p-i makes the region a more desirable place to live and work.

And that's thrive west central's goal.

Reporting live in the newsroom.

I'm dominic miranda news 10.

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