Placer County Economic and Demographic Profile 2007
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PLACER COUNTY ECONOMIC AND DEMOGRAPHIC PROFILE 2007 Placer County, California PLACER COUNTY ECONOMIC AND DEMOGRAPHIC PROFILE 2007 PLACER COUNTY, CALIFORNIA Prepared for County of Placer Office of Economic Development 175 Fulweiler Avenue Auburn, CA 95603-4543 530/889-4016 FAX 530/889-4095 Prepared by Sacramento Regional Research Institute, A Joint Venture of SACTO and Sacramento State 400 Capitol Mall, Suite 2500 Sacramento, CA 95814-4436 916/491-0444 FAX 916/441-2312 January 2007, Sacramento Regional Research Institute, SACTO-Sacramento State. All rights reserved. No part of this publication may be reproduced in any form, by any means, without written permission of the publisher. Placer County Economic and Demographic Profile 2007 Funded by: County of Placer Office of Economic Development Produced by: Sacramento Regional Research Institute A Joint Venture of SACTO and Sacramento State Ryan Sharp, Director Helen Schaubmayer, Deputy Director Sean Rudden, Research Analyst Angela Owens, Research Analyst Sacramento Regional Research Institute ii FOREWORD Foreword Placer County, one of California’s fastest growing counties and a key component of the Sacramento Region’s economy, offers many attractive features to businesses and residents including strong economic and demographic growth, a healthy business climate, developed infrastructure, and excellent quality of life. The County has benefited from expansions in its transportation infrastructure and the location of prominent businesses such as Hewlett Packard, Oracle Corporation, Ace Hardware, and Pride Industries. One of the County’s most noted gems, the Sierra Nevada Mountains, home of the 1960 Winter Olympics, provides abundant recreational opportunities to its residents and visitors from around the world. All of these aspects have made Placer County a desirable location to live, work, and play. The Placer County Economic and Demographic Profile 2007 covers a number of topics including demographics, education, business climate, real estate, infrastructure, and quality of life. Where available, the most recent data is provided for Placer County and its incorporated cities along with 5-year and 10-year historical data points and projections. Comparisons to the Sacramento Region (El Dorado, Placer, Sacramento, Sutter, Yolo, and Yuba Counties), Bay Area (Alameda, Contra Costa, Marin, San Benito, San Francisco, San Mateo, and Santa Clara Counties), and California are also made throughout the report. The Profile was prepared for the Placer County Office of Economic Development by the Sacramento Regional Research Institute (SRRI), a joint venture of the Sacramento Area Commerce and Trade Organization (SACTO) and California State University, Sacramento (Sacramento State). Sacramento Regional Research Institute iii TABLE OF CONTENTS Page FOREWORD................................................................................................. iii TABLE OF CONTENTS ............................................................................. iv LIST OF FIGURES ...................................................................................... v INTRODUCTION......................................................................................... 1 DEMOGRAPHICS ....................................................................................... 4 Population .............................................................................................. 4 Migration................................................................................................ 9 Age......................................................................................................... 10 Ethnicity ................................................................................................. 15 Housing Units......................................................................................... 20 Income.................................................................................................... 22 EDUCATION................................................................................................ 24 Primary and Secondary Education ......................................................... 24 Educational Attainment.......................................................................... 30 Higher Education.................................................................................... 31 Community Colleges.............................................................................. 35 Public Universities ................................................................................. 36 Private Schools....................................................................................... 39 Technical Schools and Vocational Training........................................... 40 BUSINESS CLIMATE ................................................................................. 41 Industry Overview.................................................................................. 41 Labor Force............................................................................................ 56 Wages..................................................................................................... 58 Major Employers.................................................................................... 59 Recently Located Companies in Placer County ..................................... 60 Taxable Sales.......................................................................................... 61 Banking and Finance.............................................................................. 64 Workforce Development and Training Programs................................... 65 Economic Development and Business Resources .................................. 68 REAL ESTATE............................................................................................. 72 Commercial Real Estate ......................................................................... 72 Residential Real Estate........................................................................... 82 INFRASTRUCTURE.................................................................................... 86 Transportation ........................................................................................ 86 Utilities................................................................................................... 95 QUALITY OF LIFE...................................................................................... 101 Climate ................................................................................................... 101 Ground Stability ..................................................................................... 102 Personal Safety....................................................................................... 103 Health Services....................................................................................... 104 Accommodations.................................................................................... 106 Recreational Activities ........................................................................... 107 Community Events, Cultural Activities, Places of Historical Interest, and Other Entertainment .......................... 111 Tourism Resources................................................................................. 115 DIRECTORY ................................................................................................ 116 Sacramento Regional Research Institute iv LIST OF FIGURES Page Figure 1: Placer County Map—The Valley, The Gold Country and The High Country............................................................................ 1 Figure 2: Population ...................................................................................... 4 Figure 3: 1996-2006 and 2001-2006 Population Growth Rates .................... 5 Figure 4: Population Projections ................................................................... 6 Figure 5: Population in Placer County Places ............................................... 7 Figure 6: Daytime Population in 2000 .......................................................... 8 Figure 7: Population Density per Square Mile .............................................. 8 Figure 8: Total Net Migration and Percent of Population Growth Due to Migration ................................................................................... 9 Figure 9: Placer County Age Composition in 2005....................................... 10 Figure 10: Annual Age Composition and Composition Shift........................ 12 Figure 11: Annual Population by Age and Percent Growth .......................... 14 Figure 12: Ethnic Composition in Placer County in 2005............................. 15 Figure 13: Annual Ethnicity Composition and Composition Shift................ 17 Figure 14: Annual Population by Ethnicity and Percent Growth .................. 19 Figure 15: Number and Type of Housing Units ............................................ 21 Figure 16: Per Capita Personal Income ......................................................... 22 Figure 17: Per Capita Personal Income Projections ...................................... 22 Figure 18: Median Household Income .......................................................... 23 Figure 19: School Types in Placer County in the 2005-2006 School Year............................................................................................ 25 Figure 20: Total K-12 School Enrollment....................................................