Lafayette Ranks Second In Overall Growth In Average Personal Incomes
Louisiana saw overall growth in average personal incomes from 2009 to 2010. That's according to the Bureau of Economic Analysis. Shreveport led all Louisiana metro areas with a 4.1 percent increase in overall personal income. LSU economist Dr. Loren Scott says that's mainly due to the increased economic activity related to the Haynesville Shale.
Lafayette posted the second largest income growth rate in the state at 3.4%. Scott says there are a number of companies that operate out of Lafayette that are also handling Haynesville Shale work.
Lake Charles had the lowest change in personal income at 1.1%. Scott says that's because refinery contract work in that area has been cut in half.
Alexandria was second to last at 1.5 percent and New Orleans had the third best growth in the state at 3.3 percent. Personal income in the nation grew as a whole around 2.9 percent. Scott says that puts
Louisiana slightly better than the national average.