Thursday, March 04, 2010

America's 25 Richest Counties

Forbes reports:
The country may have started its long haul back to economic recovery--if recent news that consumer spending increased slightly in January is any indication. But even so, most Americans still aren't ready to brag about their paychecks.

Except, perhaps, in Loudoun County, Va., where median household incomes are higher than anywhere else in the country. This affluent suburb of Washington, D.C., where families take home a median $110,643 annually, tops our list of America's 25 richest counties.


Loudoun is emblematic of the counties where the highest incomes are found. The country's riches tend to trickle away from big cities. It's not major metro areas raking in the biggest salaries; rather, it's the tony suburbs just outside big-industry centers that soak up big-city money.

Glitzy Southern California and big oil states are largely absent from the list: 19 of the 25 richest counties in the country are on the East Coast. In part, that's because our list looks at the middle incomes, and counties in the East tend to be smaller, thereby allowing for less of a spread between the richest and poorest workers.
Why did Loudon County, VA. do so well:
It's not surprising that workers in Loudoun do well. The federal government generates a wealth of jobs, keeping unemployment in the D.C. metro area at a low 6.2% (the national average is still near 10%). The best-paid workers from D.C. take their money home to Loudoun, where jobs have grown 4% between the second quarter of 2007 and the second quarter of 2009, according to the Bureau of Labor Statistics.
Great moments in the politically run economy.