More People Leaving Vt. Than Moving Inthe
Since 2005, more people have moved out of Vermont each year than moved in. And in 2010, for the first time, the total incomes of those moving in was less than the incomes of those moving away.
That’s the report this week from the Public Assets, a non-governmental think tank headed by former Rep. Paul Cillo and former reporter Jack Hoffman. This and other reports can be accessed at publicassets.org.
This week’s report summary was as follows:
“Since the early 1990s, when the IRS started tracking migration and income, people moving to Vermont have consistently reported higher average annual incomes than the Vermont residents who were leaving. The most recent data for 2010 shows that trend has not continued.
“The numbers of people coming and going over the past 18 years have seesawed. For 10 of those years more came; for eight, more left. But since the peak of in-migration in 2001, when a little more than 17,000 people relocated to the state, the number of newcomers has been declining. And since 2005, number of Vermont residents moving out each year has exceeded the number of new arrivals.
“Those coming to the state still have higher average incomes. So, even in years when out-migration has exceeded in-migration, the total personal income in the state has increased. “That changed in 2010, however. Vermont saw a net loss of income for the first time since the IRS began to publish this data.
“According to the latest report, 13,422 people moved into Vermont in 2010. Their total adjusted gross income was $353.9 million. The same year, 14,071 Vermonters moved away. Their income added up to a bit more: $356.3 million.”
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