February 25, 2011
Fjardabyggd municipality with the highest income

The municipality of Fjardabyggd – where the Alcoa Fjardaál smelter is located – has exceeded Gardabaer as the highest-income municipality in Iceland, per capita. Large companies play an important role in this development, as Fréttabladid, Iceland’s largest newspaper, reported yesterday, February 24th.

The average annual income per resident in Fjardabyggd amounts to ISK 6,445,800 (USD 56,000), according to public municipality data for the year 2010. For the past years, Gardabaer has been at the top when it comes to average income per capita, but now Fjardabyggd has risen above it. Fjardabyggd’s income has been elevated in the past few years for several reasons, including the development of the Fjardaál smelter in Reydarfjördur, Fréttabladid reports. It is worth mentioning that Reykjavík is in the sixth place, with an average annual income of ISK 5,837,124 (USD 50,100),
 
Páll Bjorgvin Gudmundsson, mayor of Fjardabyggd, said that the community benefits from having robust companies, such as the smelter, the fishing industry and various other businesses paying property taxes.