Discover which states offer the highest earning potential for entrepreneurs. This comprehensive analysis reveals where personal income is growing fastest and where business owners command the highest per capita earnings. Make data-driven location decisions with Business Initiative’s expert guidance
Methodology
State rankings use percent change in total personal income (CAINC1, LineCode 1, thousands of dollars) from 2010 to 2023, by state. Geographies are restricted to the 50 states and District of Columbia.
Units: Percent change based on BEA current-dollar total personal income by state.
Rankings (selected geographies)
| Rank | Area | Value |
|---|---|---|
| 1 | Utah | 149.87 |
| 2 | Idaho | 132.45 |
| 3 | Colorado | 129.60 |
| 4 | Washington | 123.21 |
| 5 | Florida | 119.61 |
| 6 | Arizona | 117.85 |
| 7 | Nevada | 112.80 |
| 8 | Texas | 111.21 |
| 9 | Montana | 109.89 |
| 10 | Oregon | 108.07 |
| 11 | South Carolina | 105.10 |
| 12 | South Dakota | 102.17 |
| 13 | Tennessee | 99.36 |
| 14 | California | 97.69 |
| 15 | North Carolina | 97.37 |
Percent change in total personal income (2010–2023)
Data sources
FAQs
What is State Income Power Rankings: Where Entrepreneurs Earn Most (2010-2023)?
State Income Power Rankings: Where Entrepreneurs Earn Most (2010-2023) is a comprehensive analysis of economic data from the Bureau of Economic Analysis.
This page provides data-driven insights on regional income analysis, entrepreneur location strategy..
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This analysis examines state income power rankings: where entrepreneurs earn most (2010-2023) using official government data.
The data comes from BEA's Regional Economic Accounts and is updated regularly.
Use this information to make informed business location and planning decisions.
The analysis includes state-by-state comparisons, rankings, and trend analysis.
How often is this data updated?
BEA data is typically updated annually, with some datasets updated quarterly.
This page is updated when new data becomes available.
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The Bureau of Economic Analysis releases new data on a regular schedule.
Regional income data is typically updated annually after the end of each calendar year.
Check the data sources section for the most recent update date.
We strive to update pages within 30 days of new data releases.
What data sources are used in this analysis?
This analysis uses official data from the Bureau of Economic Analysis (BEA).
Specific variables include: CAINC4 (LineCode 1 - Total Personal Income), CAINC5 (LineCode 1 - Per Capita Personal Income), CAINC...
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All data is sourced directly from BEA Regional Economic Accounts.
The data is official, authoritative, and publicly available.
We use the government-data MCP client to ensure data accuracy and timeliness.
Data methodology follows BEA standards and definitions.
How can I use this data for business planning?
This data can help inform business location decisions, market analysis, and strategic planning.
Compare states and regions to identify opportunities.
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Use state rankings to identify markets with strong economic indicators.
Compare income levels and growth rates to assess market potential.
Consider these statistics alongside other factors like cost of living and business climate.
Business Initiative offers expert guidance on state selection and business registration.
Are there limitations to this data?
Data may have reporting delays, sampling limitations, or geographic coverage gaps.
Some data points may be suppressed for privacy or reliability reasons.
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BEA data is subject to revision as more complete information becomes available.
Small geographic areas may have limited data availability.
Historical data may use different methodologies than current data.
Always check the data sources section for specific limitations.
How accurate is this data?
BEA data is highly accurate and follows rigorous statistical standards.
Data undergoes quality checks and validation before publication.
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The Bureau of Economic Analysis is a federal statistical agency with high data quality standards.
Data is subject to regular audits and quality reviews.
Methodologies are transparent and documented.
We display data exactly as provided by BEA without manipulation.
Can I download or export this data?
Yes, you can access the original data from BEA websites.
Links to official data sources are provided in the data sources section.
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BEA provides data downloads in various formats on their website.
You can access the same data we use through BEA's API or data portal.
For custom analysis, consider consulting with Business Initiative.
We can help you access and analyze government data for your specific needs.
How does this compare to other economic indicators?
BEA income data complements other indicators like employment, GDP, and business formation statistics.
Combining multiple data sources provides a more complete picture.
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Income data reflects economic prosperity and purchasing power.
Compare with employment data to understand labor market conditions.
GDP data provides broader economic context.
Business formation statistics show entrepreneurial activity levels.
