Midland, Texas knocked Fairfield, Connecticut off the top spot after 26-years for the crown of highest per capita income, the U.S. Bureau of Economic Analysis said.
The two counties that make up the Midland metro area had a per capita income of $83,049 compared to the second-place $81,068 for the Bridgeport metro area that includes Norwalk, Stamford, Greenwich and Danbury in Fairfield County, Connecticut, the Longview (Texas) News Journal said.
San Francisco, San Jose and Washington, D.C., were also in the top five metropolitan areas.
Midland, along with Odessa, serves as the headquarters for the Permian Basin, one of the most productive oilfields in North America.
Fairfield, Connecticut relies heavily on financial services. Per capita income for that industry dropped by $951 last year, while per capita income in Midland rose by more than $3,600.
The Permian Basin accounts for 14 percent of the nation’s oil production and more than half the oil production in Texas.
Fracking and directional drilling have led to a production boom for Permian crude and gas.
Midland’s unemployment rate is now under 4 percent –the lowest in Texas, the Longview News Journal said.
“BMW sales in the Midland area have increased 50 percent more than two years ago,” the report said.
About 275,000 live is the metro-Midland area.
The city’s motto is “Feel the Energy.”