Thursday, May 04, 2006

Incomes up most in energy states

USA Today reports:
Americans' personal income is growing dramatically in states that produce energy or have strong ties to the expanding federal government.

The five states enjoying fastest per-capita income growth since 2000 are major suppliers of oil, natural gas or coal, according to a USA TODAY analysis of federal data.

Wyoming topped the list: Personal income rose an inflation-adjusted 13.9% from 2000 to 2005. The state was well-positioned to take advantage of higher energy prices. It ranks No. 1 in coal production, No. 4 in natural gas and No. 7 in oil — but No. 50 in population. Not far behind the energy states were Virginia and Maryland, which experienced explosive growth in their Washington, D.C., suburbs.

“The engine driving growth here is federal spending, especially for technology related to military and homeland security,” says economist Stephen Fuller of George Mason University in Fairfax, Va.
Can everyone get a federal government check?