New York Lags in Income Growth

September 21, 2010 Updated Sep 21, 2010 at 7:21 AM EDT

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September 21, 2010 Updated Sep 21, 2010 at 7:21 AM EDT

The U.S. Bureau of Economic Analysis says North Dakota registered the sharpest increase in total personal income in the 2nd quarter at about two percent. Montana, Texas, South Dakota and New Mexico rounded out the top five. New York was a weak 43rd out of 50, with less than one percent growth in total personal income. Nevada had the nation's worst income growth, then the District of Columbia and Oregon.

More than $1 billion of New York pension payments head down south every year. The Albany Business Review, a sister publication of Business First, tracked where the monthly payouts go. The report says nearly $1 billion is distributed annually to some 46,000 New York state retirees now residing in Florida. The report says that steep pension costs are driving up property taxes.

At Nardin Academy, a $3.5 million project added dual wings with new classrooms, dance and fine arts studios and a music room this year. Officials say they ran out of space and the expansion was necessary.

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