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Region Of Boom

00000181-fa79-da89-a38d-fb7f2b600000Region of Boom is a reporting team at KUOW.We are tracking growth in metropolitan Seattle, which is being reshaped by the demands of a fast-growing technology sector led by Amazon. It’s a boom on a grand scale bestowing wealth and opportunity upon some and disruption and displacement upon others. Take a look at where development is happening now and make sure to tell us what is going on in your own neighborhood.Follow the ongoing discussion at #regionofboomThis project is edited by Carol Smith.

Washington incomes grew twice as fast as the national average this year

KUOW | By Carolyn Adolph

Published July 23, 2018 at 5:00 AM AKDT

Tech workers, such as these employees of Amazon.com are among those whose compensation is driving up the state's total income from individuals.

Personal income in Washington state is growing faster than anywhere else in the country.

Washingtonians' income increased by 7.4 percent in the first financial quarter of 2018, blowing past the national average of 4.3 percent, according to the U.S. Department of Commerce.

It's the second time in recent history that we’ve won this count. The other time was the third quarter of 2017.

Figures from the Washington State Department of Revenue and the Internal Revenue Service show some of the reasons why Washington beats the rest of the country.

Nearly 31,000 wealthy taxpayers here make more than $500,000. Among those, 36 people make more than $50 million.

However, many more of us make way less: More than 440,000 people in the state make less than $10,000.