Wisconsin Economy Shows Gains

A state revenue department report released Monday says increased tax collections and other indicators point to a positive economic outlook in Wisconsin.

Tax collections for general purposes totaled more than eleven billion dollars -- an increase of 6.6% in the fiscal year ending June 30th.

The report says income growth is expected to increase 2.7% this year on a per capita basis and 2.9% next year.

Employment growth statewide grew by one percent in 2004 and is expected to increase by about the same amount this year.

Employment growth is above average in the Eau Claire and Oshkosh-Neenah markets and below average in the Fond du Lac and Racine areas.

Nationally, inflation, oil prices and the effects of Hurricane Katrina will pose risks for the economy.