What if you could identify which states offer the best income mobility—where earnings grow fastest and economic opportunity is expanding? This index reveals where personal income is rising fastest from 2010-2023, showing which states offer the best earning potential growth and income mobility.
The data shows dramatic differences: high-mobility states have seen 70%+ income growth since 2010, while slower states have seen <30% growth. Understanding income mobility helps you position your business in states where earnings are growing fastest and opportunities are expanding.
Key Takeaways
- Income mobility varies dramatically by state—high-mobility states have 70%+ income growth vs. <30% for slower states
- Earning potential growth reveals opportunity—states with fast income growth show where economic opportunity is expanding
- Income mobility signals business potential—states with high mobility offer better opportunities for business success
- Growth trajectory analysis shows patterns—understanding income growth patterns helps identify sustainable opportunities
- Location strategy should align with mobility—matching your business to high-mobility states maximizes success
Key Takeaways
- Data-driven insights on the income mobility index: states where earnings grow fastest (2010-2023)
- Comprehensive analysis using official government data
- Actionable information for business planning
- State-by-state comparisons and rankings
- Expert guidance on business location decisions
Discover which states offer the best income mobility and earning potential growth. This index reveals where personal income is rising fastest, signaling opportunity. Po
Table of Contents
This analysis examines income mobility by calculating income growth rates and identifying states where personal income has increased most dramatically from 2010-2023. You’ll discover mobility rankings, growth trajectory analysis, and factors contributing to income mobility.
What This Index Shows:
- Income mobility rankings by state (2010-2023)
- Income growth rates showing where earnings grow fastest
- Growth trajectory analysis revealing income patterns
- Factors contributing to income mobility
- Data visualizations showing mobility patterns
Why This Matters: States with high income mobility offer the best earning potential growth and economic opportunity. High-mobility states signal expanding markets where businesses can grow alongside rising incomes.
Income Mobility Reveals Earning Potential Growth
The Numbers: States with 4%+ annual income growth have seen 70%+ total growth since 2010, while slower states have seen <30%. This 40+ percentage point difference represents significant earning potential growth.
So What? Income mobility reveals where earning potential is growing fastest. States with high income mobility offer better opportunities for business success with expanding markets and rising purchasing power.
Earning Potential Growth Signals Opportunity
The Numbers: States with fast income growth (4%+ annually) show where economic opportunity is expanding. This signals expanding markets with increasing purchasing power.
So What? Earning potential growth signals opportunity. States with fast income growth offer expanding markets with better opportunities for business success.
Income Mobility Correlates with Business Growth
The Numbers: States with high income mobility typically show strong business growth. High-mobility states often have 4%+ business expansion correlating with 4%+ income growth.
So What? Income mobility correlation with business growth indicates expanding economies. States with both high income mobility and business growth offer the best opportunities.
Location Strategy Should Align with Mobility
The Numbers: Matching your business to high-mobility states (4%+ annual growth) maximizes success. These states have earnings growing fastest and opportunities expanding.
So What? Location strategy should align with income mobility. You’re in markets where earnings are growing fastest and opportunities are expanding.
How to Use This
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For Business Opportunity: Prioritize states with 4%+ annual income growth. High-mobility states offer best earning potential growth with expanding markets.
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For Market Expansion: Target states with fast income growth. States with high mobility offer expanding markets with increasing purchasing power.
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For Location Strategy: Match your business to high-mobility states. States with strong income mobility offer expanding markets.
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For Growth Correlation: Consider income mobility correlation with business growth. States with both high mobility and business growth offer best opportunities.
Red Flags
- Declining Income Mobility (<0% growth): States where income is declining may have contracting economies
- Low Income Mobility (<2%): States with slow income growth may have limited earning potential growth
- Volatile Income Growth: States with volatile income patterns may be less stable
Green Lights
- High Income Mobility (4%+): States with strong income mobility offer best opportunities
- Consistent Income Growth: States with consistent income growth offer more stability
- Mobility-Business Correlation: States with both high income mobility and business growth offer best opportunities
How to Use This Index
Follow this step-by-step process to identify high-mobility states and position in markets where earnings are growing fastest:
Step 1: Review Income Mobility Rankings
Explore the index to see:
- Income Growth Rates: Which states have 4%+ annual growth (high-mobility)
- Mobility Rankings: Which states rank highest for income mobility
- Growth Trajectory: Whether income growth is accelerating, stable, or slowing
Action: Identify your top 10-15 candidate states based on income mobility metrics.
Step 2: Analyze Growth Trajectories
For each candidate state, examine:
- Growth Consistency: Is income growth stable or volatile?
- Growth Trajectory: Is income growth accelerating, stable, or slowing?
- Mobility Factors: What’s driving income mobility in each state?
Action: Prioritize states with consistent, accelerating income growth.
Step 3: Assess Earning Potential Growth
Evaluate earning potential indicators:
- High Income Mobility (4%+ annually): States where earning potential is growing fastest
- Per Capita Growth: States with high per capita income growth show individual opportunity
- Total Income Growth: States with high total income growth show market expansion
Action: Identify states with strong earning potential growth indicators.
Step 4: Compare Mobility Factors
Research what’s driving income mobility:
- Technology Sectors: States with technology-driven mobility offer innovation opportunities
- Business Expansion: States with business-driven mobility offer market opportunities
- Economic Diversification: States with diverse mobility drivers offer stability
Action: Match mobility factors to your business model and industry.
Step 5: Make Your Decision
Combine mobility data with other factors:
- Income mobility (40%)
- Growth consistency (25%)
- Earning potential indicators (20%)
- Business climate (15%)
Action: Create a decision matrix scoring each state and select your optimal high-mobility location.
Common Use Cases
Use Case 1: Business Opportunity → Target states with 4%+ annual income growth. High-mobility states offer best earning potential growth with expanding markets.
Use Case 2: Market Expansion → Prioritize states with fast income growth. States with high mobility offer expanding markets with increasing purchasing power.
Use Case 3: Location Strategy → Choose high-mobility states. States with strong income mobility offer expanding markets.
Use Case 4: Growth Correlation → Focus on states with both high income mobility and business growth. These states offer the best opportunities.
Questions to Ask Yourself
- What income mobility rate matches my business model and needs?
- Is growth consistency or growth rate more important?
- How important is income mobility-business growth correlation?
- What mobility factors align with my industry?
- What’s my priority: high income mobility or stable income growth?
Action Items Checklist
- Review income mobility rankings for all 50 states
- Analyze growth trajectories and patterns
- Assess earning potential growth indicators
- Research mobility factors for candidate states
- Compare growth consistency across candidates
- Evaluate income mobility-business growth correlation
- Create decision matrix combining mobility and other factors
- Consult with Business Initiative for state registration guidance
Industry-Specific Recommendations
Technology & Software: Target states with technology-driven income mobility (Utah, Idaho, Washington, Colorado). Technology mobility creates innovation opportunities and expanding markets.
Energy & Resources: Focus on states with energy-driven mobility (Texas, North Dakota). Energy mobility creates resource and service opportunities.
Professional Services: Prioritize states with business services mobility (Utah, Colorado, North Carolina). Service mobility offers B2B demand and networking opportunities.
Manufacturing: Consider states with manufacturing mobility (Tennessee, South Carolina). Manufacturing mobility offers supply chains and industry support.
Business Services: Look for states with diverse mobility (Minnesota, Georgia). Diverse mobility offers stability and multiple opportunities.
Common Mistakes to Avoid
Mistake 1: Ignoring Growth Consistency Focusing only on income growth rate misses volatility. A state with 6% growth but high volatility may be riskier than a state with 4% stable growth.
Mistake 2: Not Matching to Mobility Factors Choosing states without considering what’s driving income mobility. Match mobility factors to your business model and industry.
Mistake 3: Ignoring Mobility-Business Correlation Not considering how income mobility correlates with business growth. States with both high mobility and business growth offer best opportunities.
Mistake 4: Overlooking Growth Trajectory Focusing only on current income growth misses trends. States with accelerating growth offer expanding opportunities, while slowing growth may signal challenges.
Mistake 5: One-Size-Fits-All Thinking What works for a technology business may not work for a manufacturing business. Match mobility characteristics to your specific business model.
Optimization Strategies
For Maximum Income Mobility: Target top 5 states by income mobility (Utah, Idaho, Washington, Colorado, Arizona). These states offer strongest income mobility.
For Stable Income Growth: Focus on states with consistent income growth. Stable growth offers reliable opportunities without volatility.
For Growth Correlation: Prioritize states with both high income mobility and business growth. These states offer the best opportunities.
For Risk Management: Choose states with consistent income growth patterns. Stable growth reduces risk compared to volatile growth.
Timing Considerations
Best Time to Enter High-Mobility States: When you have business model ready. High-mobility states reward businesses entering expanding markets.
Best Time to Enter Growing Mobility States: Early in the mobility cycle. You establish presence before markets become saturated and competition intensifies.
When to Reassess: Review income mobility annually. State positions change, and what was optimal 3 years ago may not be today.
Resource Recommendations
For Mobility Research:
- BEA Regional Economic Accounts (official income data)
- State economic development websites
- Business climate rankings
- Industry-specific mobility statistics
For Registration Support:
- Business Initiative state registration services
- State Secretary of State websites
- Local business development centers
FAQs - Frequently Asked Questions About The Income Mobility Index: States Where
What is The Income Mobility Index: States Where Earnings Grow Fastest (2010-2023)?
The Income Mobility Index: States Where Earnings Grow Fastest (2010-2023) is a comprehensive analysis of economic data from the Bureau of Economic Analysis.
This page provides data-driven insights on income mobility, earning potential, economic opportunity..
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This analysis examines the income mobility index: states where earnings grow fastest (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.
Learn More...
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, CAINC5, GeoFIPS STATE, Year 2010-2023....
Learn More...
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.
Learn More...
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.
Learn More...
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.
Learn More...
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.
Learn More...
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.
In Summary
This index reveals where personal income is rising fastest, helping you identify high-mobility states where earnings are growing fastest and economic opportunity is expanding.
Key Findings:
- Income mobility varies dramatically by state—high-mobility states have 70%+ income growth vs. <30% for slower states
- Earning potential growth reveals opportunity—states with fast income growth show where economic opportunity is expanding
- Income mobility signals business potential—states with high mobility offer better opportunities for business success
- Growth trajectory analysis shows patterns—understanding income growth patterns helps identify sustainable opportunities
- Location strategy should align with mobility—matching your business to high-mobility states maximizes success
What This Means for Your Business:
Understanding income mobility helps you identify states where earnings are growing fastest and opportunities are expanding. High-mobility states offer better opportunities for business success with expanding markets and rising purchasing power. States with high income mobility (4%+ annual growth) offer expanding markets with increasing earning potential.
Practical Applications:
- Business Opportunity: Prioritize states with 4%+ annual income growth for expanding markets with growing earning potential
- Market Expansion: Target states with fast income growth for expanding markets with increasing purchasing power
- Location Strategy: Match your business to high-mobility states for optimal success
- Growth Correlation: Consider income mobility correlation with business growth for best opportunities
Next Steps:
- Review the income mobility rankings and identify states with growth rates that align with your business model
- Analyze growth trajectories and patterns to assess earning potential indicators
- Research mobility factors to match states to your industry
- Compare growth consistency to balance opportunity with risk
- Consult with Business Initiative for expert guidance on state registration and market entry
By leveraging this index, you can position your business in high-mobility states that maximize your opportunities and support long-term growth.
Ready to take action based on this index?
Now that you know where earnings are growing fastest, it’s time to position your business in high-mobility states.
Next Steps:
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Explore the Index: Use this data to examine income mobility for all 50 states. Identify high-mobility states that align with your business model and expansion needs.
- Compare State Statistics: Use our state-specific business formation statistics to understand entrepreneurial activity levels:
- State Statistics Overview
- Explore business formation data by state to see where entrepreneurs are most active
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Plan Your Registration: Once you’ve identified high-mobility states, Business Initiative can help you register your business with expert guidance on state requirements, tax optimization, and compliance.
- Validate Your Market: Combine income mobility data with industry-specific statistics to validate market opportunity before committing to a location.
Business Initiative offers expert services to help you leverage this index:
- State Registration Services: Get expert guidance on registering in high-mobility states that maximize your market opportunity
- Tax Optimization: Understand how state selection impacts your tax obligations in high-mobility environments
- Market Analysis: Combine income mobility data with industry statistics for comprehensive market validation
- Strategic Planning: Work with our team to develop a location strategy based on mobility-driven insights
For personalized advice, schedule a consultation with Business Initiative or reach out through our contact form.
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