County-Level Personal Income Data Highlights Economic Trends in Virginia
The Weldon Cooper Center for Public Service analyzed the recently released 2023 county-level data from the U.S. Bureau of Economic Analysis (BEA), which provide valuable insights into the persistent economic disparities across the Commonwealth of Virginia by highlighting the average personal income per capita at the county level. Understanding the unequal distribution of economic growth across the state’s regions is crucial for policymakers, businesses, and communities alike as they strive to foster economic development.
While personal income is often used as an indicator of regional economic health, it is shaped by numerous demographic, economic, and social factors. These include wages and rents tied to local or regional economic performance, as well as sources of income such as dividends, profits, or pensions, which are influenced by national trends. Despite an encouraging overall growth in personal income per capita in Virginia, this report underscores that regional inequalities remain deeply entrenched, presenting a challenge for achieving balanced prosperity across the Commonwealth.