To All COLA LO members,
Its a stunning admission of how far the relative incomes in the city have plunged over time. It also explains why citizens are so irate over the cost of living and actions of local officials these past few years.
No Longer the Wealthiest.
West Linn actually has a higher median income than Lake Oswego according to the latest statistics. No wonder residents were upset at the $5.1 million wealth transfer between Lake Oswego and West Linn to build the LO-Tigard Water Project.
As one online comment stated: "Congratulations Happy Valley, you're the new Lake Oswego."
Its clear that LO residents have been hard hit by the recession despite their relatively high education. Its also clear that economic development efforts have not been successful in generating high paying jobs for LO residents.
Overall these results may be the strongest indictment of the efforts of past administrations.
Please notify all members, contacts, and friends.