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Bible, Edward / Annual overall economic development program report, 1996/1997
(October 1996)

Chapter III: Changes in the regional economy,   pp. [unnumbered]-34 PDF (6.8 MB)


Page 21

PERSONAL INCOME BY INDUSTRY
Plates III-1 through II-5 provide data on personal income by industry taken from the
U.S. Department of Commerce, Bureau of Economic Analysis. The data covers the three-year
time span from 1990 to 1992 for each of the five counties.
In Grant County, the largest sector of the economy in terms of personal income was from
government and government enterprises, due to the presence of the University of Wisconsin-
Platteville and Southwest Technical College. Second was Manufacturing, third was Services and
fourth was Retail trade followed by farming. In 1990, the farming sector ranked second. This
sector fluctuates greatly from year to year, while other sectors tend to be relatively stable.
The largest sector in Green County in 1992 was the Services sector, followed by
Manufacturing and Retial Trade. Farming ranked a distant sixth behind Government and
Wholesale Trade, but again, in 1990, this sector was larger than either of the two aforementioned
categories.
In Iowa County, due largely to the presence of a single firm, the retail sector is by far the
largest sector in the county. The Services sector is clearly the second largest in the county.
These two sectors, as shown in Plate 111-3, had to be estimated by the Commission due to the
fact that the income data was suppressed by the Bureau of Economic Analysis. Since
employment data is readily available from other sources, and income data from prior years is
known, a formula can be developed which provides an estimate of the income based on
employment figures. An estimate was first made for the Services sector, leaving the remainder
as the estimate for the Retail Trade sector. In this way, the figures can be represented in a chart
form with some assurance that they reasonably represent the income provided from those sectors
of the economy. It is felt that it is important to have a rough understanding of the trends in these
economic sectors since they tend to change dramatically from year to year. For example, it is
known that in 1992 the two sectors together accounted for nearly one-half of all personal income
in the county. In the 1990, it is known that the two sectors accounted for about 42.5 percent of
all income.
In Lafayette County, which has the most farm-dependent economy in the entire state, the
farm sector represented nearly one-third of all income in 1992. In the years prior to 1992, this
percentage was even higher, dominating all other sectors. Government and government
enterprises was second at nearly 20 percent of all income. The manufacturing sector was third
in all three years bringing in around ten to twelve percent of all income.
In Richland County, the Manufacturing sector is by far the largest, followed by
Government and government enterprises, Services and Retail Trade. Like the other counties, the
Farming sector had better years in 1990 and 1991 than in 1992.
The per capita personal income levels within the region ranged from a low of $13,786 in
Richland County to high of $18,840 in Green County in 1992. These two figures are 68.6
percent and 93.7 percent of the U.S. average, respectively. The income levels of the remaining
counties were: Grant ($15,154 or 75.4% of the U.S.); Iowa ($16,178 or 80.5% of the U.S.);
and Lafayette ($15,480 or 77.0% of the U.S.)
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