Median family income in Vermont rose to a record high of $65,786 in 2007, according to The Vermont Economy Newsletter’s annual analysis of just-released Vermont Tax Department income data. The income earned by the median family (half of all families earn more and half earn less than the median) rose by 4.6% or $2,900 in 2007.While incomes grew by 4.6%, prices increased by 2.8%, yielding an inflation-adjusted income growth rate of 1.7%.”Inflation-adjusted income grew by a healthy 1.7% in 2007,” noted Art Woolf, co-author of the report and editor of The Vermont Economy Newsletter. “And that was on top of an equally healthy 1.6% growth in 2006. Over the long term, annual income growth in Vermont is 1.5%, so income growth in 2006 and 2007 was better than average.”The Vermont Economy Newsletter’s forecast for 2008 and 2009 is not so sanguine. “The economy began slowing in 2008 and will continue to slow as the full impact of the recession takes hold,” noted Richard Heaps, the study’s other co-author. “We believe that while income gains were healthy in 2008, the high inflation caused by the rapid growth in energy and food prices eroded most of those gains,” he said. “And the outlook for 2009 is even worse. Incomes will barely grow. And although inflation will be low in 2009, it will be high enough and income growth low enough to cause a decline in inflation-adjusted family income,” he continued.The study foresees a modest decline in inflation-adjusted family income in both 2008 and 2009.Family income data for 2008, based on tax returns that Vermonters are now beginning to file, will be available in December 2009.Actual Data: Vermont Median Family IncomeYearActual DollarsInflation Adjusted1975$12,036$41,2261976$13,440$43,5371977$14,466$44,0491978$16,533$48,2211979$17,967$47,8231980$19,193$45,9821981$20,622$45,1111982$21,019$43,3621983$22,510$44,5371984$23,609$44,8751985$25,343$46,5721986$27,347$49,3611987$30,618$53,4591988$32,750$55,1571989$34,680$55,9921990$35,399$54,4391991$35,460$52,6451992$36,953$53,5051993$37,557$53,0681994$38,755$53,6161995$40,407$54,5871996$42,262$55,6131997$44,516$57,3401998$47,309$60,0981999$49,578$61,6942000$52,387$63,0762001$53,609$62,7842002$53,790$61,9952003$54,958$61,9572004$57,677$63,3122005$59,959$63,6822006$62,912$64,6972007$65,786$65,7862008F$68,089$65,5332009F$68,429$65,208www.vteconomy.com(link is external)
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Deery drivers travel to Quad City, Hamilton County for midweek shows
EAST MOLINE, Ill. – A return to Quad City Speedway and top billing at Hamilton County Speedway’s Thursday Night Thunder special are next up on the Deery Brothers Summer Series schedule.IMCA Late Model tour feature winners earn $3,000 on Wednesday, July 22 at East Moline, and on Thursday, July 23 at Webster City, Iowa. A minimum of $300 will be paid to start the main event each night.Pit gates open at 4 p.m., the draw closes at 6:30 p.m. and racing follows 6:55 p.m. hot laps at Quad City, where mod lites and street stocks complete the card.Reserved seating is $18; grandstand admission is $15 for adults, kids ages 6-12 are $8 and five and under are free.The Thursday Night Thunder program during the Hamilton County Fair boasts Xtreme Motor Sports IMCA Modifieds in a $1,000 to win Fast Shafts All-Star Invitational ballot qualifying event.IMCA Sunoco Stock Cars and Karl Chevrolet Northern SportMods also race for $1,000 to win, IMCA Sunoco Hobby Stocks for $500 to win and Mach-1 Sport Compacts for $150 to win.IMCA Speedway Motors Weekly Racing National, regional and Allstar Performance State, but no local track points will be awarded.Pit passes are $30 both nights.Seven-time series champion Jeff Aikey of Cedar Falls, Iowa, raced to his career-leading 64th Deery win when the series visited Quad City Speedway in May. That was the 17th tour event held at East Moline since 1990.Hamilton County’s tour tenure dates to 1987, the series’ inaugural season. Brian Harris of Davenport, Iowa, won the most recent of the 27 Deery races held there in June of 2013.More information about the Wednesday night show is available at the www.qcspeedwayracing.com website or by calling 309 792-5030; and about the Thursday show at the www.hamiltoncospeedway.com website or by calling 515 832-5382.Deery Brothers Summer Series top 20 point standings – 1. Justin Kay, Wheatland, Iowa, 518; 2. Andy Nezworski, Buffalo, Iowa, 503; 3. Jeff Aikey, Cedar Falls, Iowa, 476; 4. Scott Fitzpatrick, Wheatland, Iowa, 457; 5. Joe Zrostlik, Long Grove, Iowa, 428; 6. Ryan Dolan, Lisbon, Iowa, 408; 7. Tyler Bruening, Decorah, Iowa, 391; 8. Tyler Droste, Waterloo, Iowa, 390; 9. Todd Malmstrom, Silvis, Ill., 388; 10. John Emerson, Waterloo, Iowa, 383; 11. Jeremy Grady, Story City, Iowa, 360; 12. Charlie McKenna, Clear Lake, Iowa, 337; 13. Darrel DeFrance, Marshalltown, Iowa, 313; 14. Andy Eckrich, Oxford, Iowa, 312; 15. Joel Callahan, Dubuque, Iowa, 275; 16. Ray Guss Jr., Milan, Ill., 267; 17. Jason Rauen, Farley, Iowa, 255; 18. Brian Harris, Davenport, Iowa, 238; 19. Kyle Hinrichs, Swisher, Iowa, 212; 20. Corey Zeitner, Omaha, Neb., 198.