Community News
Georgia and Alabama see larger income growth....
On August 6, the Bureau of Economic Analysis (BEA) released its latest personal income figures for the 366 U.S. metropolitan statistical areas. On average, MSA personal income grew at a rate of 3.3 percent in 2008, down from 6 percent in 2007. Personal income has declined in every month in 2009 except for a slight increase in May of 1 percent.
On average, the 26 MSAs in Alabama and Georgia grew at a faster rate than the rest of the U.S. in terms personal income growth. The MSAs increased their personal income at an average rate of 4.5 percent, while the rest of the U.S grew at just 3.3 percent. Check out the table below to see how well your area fared.
Only 3 MSAs in Georgia and Alabama grew at a slower rate than the U.S. average. These MSAs were Dalton, Georgia, at -.6 percent, and Altanta-Sandy Springs at 1.9 percent, and Chattanooga, TN-GA at 2.7 percent. These areas were hit hard by losses in the manufacturing and financial sectors.
The fastest growing area was Hinesville/Ft. Stewart, Georgia, which grew at a rate of 9.2 percent. This growth rate makes it the fastest growing MSA in the country. The income growth was due largely to military spending.
Other MSAs with impressive income growth included Columbus, Athens, Brunswick, and Valdosta in Georgia, and Huntsville, Montgomery, and Mobile in Alabama. See complete chart below. For more information about income growth, click here. For more information about economic growth and recovery, click here.
| Location | 2007 | 2008 |
| United States | 6.0% | 3.3% |
| Anniston-Oxford, AL | 7.4 | 4.5 |
| Athens-Clarke County, GA | 5.8 | 5.1 |
| Atlanta-Sandy Springs-Marietta, GA | 6.4 | 1.9 |
| Auburn-Opelika, AL | 7.1 | 4.6 |
| Augusta-Richmond County, GA-SC | 5.0 | 4.8 |
| Birmingham-Hoover, AL | 6.4 | 3.3 |
| Brunswick, GA | 5.5 | 5.1 |
| Chattanooga, TN-GA | 5.5 | 2.7 |
| Columbus, GA-AL | 6.5 | 5.0 |
| Dalton, GA | 4.6 | -.6 |
| Decatur, AL | 5.4 | 4.0 |
| Dothan, AL | 6.2 | 3.6 |
| Florence-Muscle Shoals, AL | 5.7 | 4.3 |
| Gadsden, AL | 5.2 | 4.1 |
| Gainesville, GA | 7.1 | 4.1 |
| Hinesville-Fort Stewart, GA | 6.3 | 9.2 |
| Huntsville, AL | 7.4 | 6.3 |
| Macon, GA | 3.3 | 4.5 |
| Mobile, AL | 4.3 | 5.6 |
| Montgomery, AL | 5.3 | 5.0 |
| Rome, GA | 3.8 | 3.9 |
| Savannah, GA | 7.2 | 4.7 |
| Tuscaloosa, AL | 6.4 | 4.5 |
| Valdosta, GA | 5.6 | 7.4 |
| Warner Robins, GA | 4.9 | 4.0 |