Average personal income in Floyd County rose by 2.4% to $39,314 in 2019, according to a report released this quarter by the U.S Department of Commerce Bureau of Economic Analysis.
The report shows the income of Floyd County residents ranked 46th in the state of Georgia.
The federal government defines per capita personal income as an area’s personal income divided by its population.
While the Floyd County income numbers were up by $932 compared to the previous year, the per capita personal income was still more than $8,900 below the state figure of $48,236 and almost $13,200 below the national figure of $52,490.
Rome-Floyd County Development Authority President Missy Kendrick said the personal income data can be indicative of a double-edged sword. When new industries are looking for places to locate, they are frequently looking at all kinds of data, including the cost of labor in any given community.
“We do provide lower labor cost in the Southeast,” Kendrick said. “I’m not surprised that we’re running a little behind state and national.”
Breaking the per capita personal income down to 52 weeks per year and 40 hours a week, the income averages $18.90 an hour. Kendrick said many manufacturers across the community pay in excess of that at this time.
“For recruiting purposes, it’s a positive factor,” Kendrick said. “For our local quality of life, of course we’d like to see it improve. We’d like to see our average increase.”
Neighboring Bartow County registered a 3.1% increase in 2019 to $39,505; Chattooga County residents had a per capita personal income of $31,557, which was up 1.9% from the previous year.
Neighbors in Walker County reported per capita personal income of $34,078 last year, up 2.3% from 2018. Gordon County residents made an average of $35,557, up an even 1%, while people who live in Polk County averaged $34,055 in 2019, up 3.7% from the previous year.
Pickens County residents led the way across the 15-county Northwest Georgia Regional Commission service area with a per capita personal income of $48,493 in 2019. The income ranked Pickens County 14th among all Georgia counties.
Murray County had the lowest per capita income figure in the region at $30,964, ranking 143rd among Georgia’s 159 counties.