2017 the Demographic and Economic Report

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2017 the Demographic and Economic Report 2017 DEMOGRAPHIC AND ECONOMIC REPORT Demographic, Economic and Community Information for Cedar Rapids MSA: Benton, Jones and Linn County Prepared by the Cedar Rapids Metro Economic Alliance Table of Contents • Map • Education continued… • Demographics • Income • Median Household Income • Population • Mean Household Income • Age • Per Capita Personal Income • Economy • Per Capita Real GDP by Area • Total Employment • Retail Sales and Retail Sales Indexed • Total Employment Indexed • Community • Unemployment Rate • Cedar Rapids MSA Map • Primary Roads Map • Industry Growth and Employment • Mean Commute Time • Industry Employment and Earnings • Cost of Living Index • Industry Snapshot – Employment, Avg. Annual Wages, Location • Motor Freight & Delivery Time of Goods in Transit Quotient • Rail and Rail Companies • Largest Employers • Airport • Occupation Snapshot – Employment, Avg. Annual Wages, Location • Utilities Quotient • Housing • Workforce • Permits • Home Sales • Laborshed – Residence Commuters • Average Price • Laborshed – Workforce Characteristics • Entertainment and Recreation • Healthcare Worker • Weather • Education • Race and Ethnicity • Education Attainment • K-12 Graduate Intentions • K-12 Enrollment • Median Earnings by Educational Attainment • College Graduates • Post-secondary Enrollment Map of Cedar Rapids Metropolitan Statistical Area (MSA) Demographics Cedar Rapids MSA Trended Population with 5-year Percent Change – over the course of the next several years, annual population change will be less than 1% to flat before seeing a 2-3% increase in 2025 Source: Woods & Poole, 2017 *Cedar Rapids MSA – Metropolitan Statistical Area of: Benton, Jones, and Linn County City and County Population for Cedar Rapids MSA Benton County Jones County Linn County Atkins 1,839 Anamosa 5,518 Alburnette 607 Belle Plaine 2,528 Cascade 1,984 Bertram 394 Blairstown 757 Center Junction 93 Cedar Rapids 128,829 Garrison 384 Martelle 255 Center Point 2,478 Keystone 656 Monticello 3,800 Central City 1,373 Luzerne 102 Morley 107 Coggon 658 Mount Auburn 100 Olin 718 Ely 1,994 Newhall 944 Onslow 201 Fairfax 2,300 Norway 613 Oxford Junction 516 Hiawatha 7,150 Shellsburg 1,143 Wyoming 442 Lisbon 1,990 Urbana 1,402 Marion 36,311 Van Horne 717 Mount Vernon 4,523 Vinton 5,197 Palo 1,050 Walford 1,563 Prairieburg 156 Robins 3,357 Springville 1,034 Walker 775 Surrounding Surrounding Surrounding 7,858 6,926 21,661 Area Area Area Total County 25,803 Total County 20,560 Total County 216,640 Source: U.S. Census, American Community Survey, 5-Year Estimates, 2016 Population Year over Year Trend and Comparison Geography 2008 2009 2010 2011 2012 2013 2014 2015 2016 City of Cedar Rapids 125,871 126,211 126,528 127,870 128,129 128,413 129,304 130,405 131,127 City of Cedar Rapids % Change 0.27% 0.25% 1.06% 0.20% 0.22% 0.69% 0.85% 0.55% Cedar Rapids MSA* 254,911 256,324 258,408 260,882 261,705 262,295 263,734 265,850 267,799 Cedar Rapids MSA % Change 0.55% 0.81% 0.96% 0.32% 0.23% 0.55% 0.80% 0.73% Iowa 3,016,734 3,032,870 3,050,738 3,065,223 3,076,310 3,091,930 3,108,030 3,121,997 3,134,693 Iowa % Change 0.53% 0.59% 0.47% 0.36% 0.51% 0.52% 0.45% 0.41% U.S.A 304,093,966 306,771,529 309,348,193 311,663,358 313,998,379 316,204,908 318,563,456 320,896,618 323,127,513 U.S.A % Change 0.88% 0.84% 0.75% 0.75% 0.70% 0.75% 0.73% 0.70% Source: U.S. Census †Population estimate different from previous page due to different sources. *Cedar Rapids MSA consists of Benton, Linn, Jones Counties. Population 8-year Trend, Indexed, 2008-2016 – with 2008 as the baseline, how has the population trended year over year. Source: U.S. Census †Population estimate different from previous page due to different sources. *Cedar Rapids MSA consists of Benton, Linn, Jones Counties. Gender Breakout of Population – Cedar Rapids MSA is nearly 50/50 Female to Male Source: Woods and Poole Economics 2017 Age Breakdown by Life stage/Population, Cedar Rapids MSA 65 years and older, Under 15 years, 41,633 , 16% 52,118 , 19% 50-64 years, 53,252 , 15-24 years, 34,878 , 20% 13% 25-49 years, 85,117 , 32% Source: Woods and Poole Economics 2017 Economy Total Private Employment, 2007-2016 with 3-year trend Source: QCEW, Bureau of Labor Statistics 2017 Total Employment Indexed Growth from 2007 to 2016 - with 2007 the baseline, how has Total Employment changed year over year Source: QCEW, Bureau of Labor Statistics 2017 Unemployment Rate, 2005-2017 10.0% 9.6% 9.4% 9.0% 9.0% 8.2% 8.0% 7.5% 7.0% 6.6% 6.3% 6.0% 6.0% 5.5% 5.5% 5.4% 6.2% 5.1% 5.0% 5.8% 4.8% 5.0% 4.6% 4.7% 4.4% 5.3% UnemploymentRate 4.3% 4.3% 4.3% 4.0% 4.8% 4.8% 3.8% 3.8% 4.0% 3.6% 3.7% 4.2% 4.1% 3.1% 3.6% 3.6% 3.0% 3.4% 3.4% 3.5% 3.2% 2.0% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Cedar Rapids MSA 4.1% 3.4% 3.4% 3.5% 6.2% 5.8% 5.3% 4.8% 4.8% 4.2% 3.6% 3.6% 3.2% Iowa 4.3% 3.6% 3.7% 4.0% 6.6% 6.0% 5.5% 5.0% 4.8% 4.3% 3.8% 3.8% 3.1% United States 5.1% 4.6% 4.4% 5.4% 9.4% 9.6% 9.0% 8.2% 7.5% 6.3% 5.5% 4.7% 4.3% Source: LAUS, Bureau of Labor Statistics 2017, May is the month used for comparison Industry Growth and Employment, Cedar Rapids MSA, ‘07-’17 Source: Woods & Poole, 2017 – the larger the bubble the larger the total employment in that industry. Industry Employment and Earnings (in thousands), Cedar Rapids MSA, ‘07-’17 Industry 10-Year Job Growth (2006-2016)2017 Employment 2017 Earnings ACCOMMODATION and FOOD SERVICES 7.0% 10.942 221.7800 ADMINISTRATIVE and WASTE SERVICES 7.3% 9.795 313.8500 ARTS, ENTERTAINMENT, and RECREATION 29.2% 3.661 62.5100 CONSTRUCTION -0.7% 10.856 657.9000 EDUCATIONAL SERVICES 31.4% 4.663 129.5200 FARM 1.0% 3.592 124.6200 FINANCE and INSURANCE 15.9% 12.377 760.4300 FORESTRY, FISHING, RELATED ACTIVITIES and OTHER 32.8% 0.514 12.7600 HEALTH CARE and SOCIAL ASSISTANCE 12.5% 19.492 970.0700 INFORMATION -12.3% 5.000 339.1600 MANAGEMENT of COMPANIES and ENTERPRISES 91.5% 1.457 110.5000 MANUFACTURING -6.6% 20.915 1,885.9000 MINING 44.7% 0.301 10.8500 OTHER SERVICES, EXCEPT PUBLIC ADMINISTRATION 5.4% 9.635 307.7000 PROFESSIONAL and TECHNICAL SERVICES 1.7% 7.582 480.6400 REAL ESTATE and RENTAL and LEASE 25.0% 7.645 273.3200 RETAIL TRADE -0.3% 20.047 519.7600 TRANSPORTATION and WAREHOUSING 39.0% 10.807 500.7300 UTILITIES -6.7% 1.539 186.7200 WHOLESALE TRADE 9.4% 6.417 430.4000 Source: Woods & Poole, 2017 Cedar Rapids MSA Industry Snapshot (NAICS Code) – Employment Source: Chmura Economics Cedar Rapids MSA Industry Snapshot (NAICS Code) –Avg. Annual Wages Source: Chmura Economics Cedar Rapids MSA Industry Snapshot (NAICS Code) – Location Quotient* Source: Chmura Economics *Location Quotient is defined as, “a valuable way of quantifying how concentrated a particular industry, cluster, occupation, or demographic group is in a region as compared to the nation. It can reveal what makes a particular region “unique” in comparison to the national average.” Largest Employers – Cedar Rapids MSA Company Name Employees Industry Headquarters Electronic Equipment & Rockwell Collins, Inc. 8,700 Design Cedar Rapids, Iowa Transamerica 3,800 Insurance/Financial The Hauge, The Netherlands St. Luke's Hospital 2,979 Healthcare Cedar Rapids, Iowa Cedar Rapids Community School District 2,879 Education Cedar Rapids, Iowa Hy-Vee 2,326 Grocery West Des Moines, Iowa Nordstrom Direct 2,150 Logistics/Distribution Seattle, Washington Mercy Medical Center 2,140 Healthcare Cedar Rapids, Iowa City of Cedar Rapids 1,309 Government Cedar Rapids, Iowa Four Oaks 1,100 Non-profit Cedar Rapids, Iowa Linn-Mar Community School District 987 Education Marion, Iowa Quaker Foods & Snacks 920 Food Processing Chicago, Illinois College Community School District 850 Education Cedar Rapids, Iowa Alliant Energy - Interstate Power and Light 845 Utility Madison, Wisconsin Largest Employers – Cedar Rapids MSA continued… Company Name Employees Industry Headquarters Kirkwood Community College 810 Education Cedar Rapids, Iowa Linn County Board of Supervisors 762 Government Cedar Rapids, Iowa hibu 723 Customer Service Berkshire, United Kingdom General Mills, Inc. 650 Food Processing Minneapolis, Minnesota Toyota Financial Services 600 Insurance/Financial Plano, Texas NextEra Energy Duane Arnold 592 Utility Juno Beach, Florida Ruffalo Noel Levitz 575 Information Services Cedar Rapids, Iowa CRST 564 Logistics/Distribution Cedar Rapids, Iowa United Fire Group 514 Insurance/Financial Cedar Rapids, Iowa Grant Wood Area Education Agency 487 Education Cedar Rapids, Iowa ADM - Corn Processing Bio-processing/Food Division 471 Ingredient Decatur, Illinois The Gazette Company 466 Media Cedar Rapids, Iowa PMX Industries 460 Process Manufacturing Seoul, Korea U.S. Cellular 450 Customer Service Rosemont, Illinois International Paper 365 Process Manufacturing Memphis, Tennessee Largest Employers – Cedar Rapids MSA continued… Company Name Employees Industry Headquarters Bio-processing/Food Cargill, Inc. - Corn Milling 356 Ingredient Minneapolis, Minnesota Electronic Equipment & Schneider Electric 300 Design Paris, France Verizon Business 280 Customer Service New York, New York Bio-processing/Food Ingredion 255 Ingredient Denver, Colorado Wells Fargo 225 Insurance/Financial San Francisco, California Intermec by Honeywell 220 Information Technology New York, New York Bio-processing/Food DuPont Industrial Biosciences 210 Ingredient Wilmington, Delaware BMO Harris Bank 200 Insurance/Financial Montreal, Quebec Kraft Heinz 196 Food Processing Pittsburgh, Pennsylvania KapStone Paper and Packaging Corp.
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