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Placer County Economic and Demographic Profile 2013

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Placer County Economic and Demographic Profile 2013 Placer County Economic and Demographic Profile 2013 Prepared for: County of Placer Office of Economic Development 175 Fulweiler Avenue Auburn, CA 95603-4543 530/889-4016 Prepared by: 400 Capitol Mall, Suite 2500 Sacramento, CA 95814 916/491-0444 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 at Squaw Valley, 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. Placer County has developed a number of high technology industry clusters since 2000. These include biotechnology/bioscience, hardware, medical device manufacturers, networking/system integration, and software. The software sector, in particular, has grown substantially since the early 2000’s with many small firms joining Oracle Corporation in South Placer County. Such firms include UK-based Sage Software, Abso in Roseville, and privately-held Revionics which has received national attention for its price-optimization software development. In 2008, Kodak Imaging announced the establishment of a branch software and engineering development operation in Auburn. Kodak joined other relatively new or expanded technology-based firms in the Auburn airport area including ioSafe, Tahoe RF Semiconductor, Miltenyi Bio-Tech, and Sierra Precision Optics. Business development opportunities are plentiful throughout the County. The Sunset Industrial Area (SIA) offers development-ready parcels in an attractive business park environment. Over 150 business establishments thrive in the SIA serving as an essential employment base for residents of South Placer, providing primary-wage earner jobs. Recent business expansion includes projects by TyRy Alpine Aire Foods, Magnus Pacific Corporation, and TechEvents. Professional & Business services have also enjoyed success nearby from such firms as Purple Communications, Clear Capital, Paramount Equity, and eSurance. The Leisure and Hospitality industry is experiencing unprecedented expansion in North Lake Tahoe with major master plan implementation at Northstar, Squaw Valley, Alpine Meadows, and Homewood Resort. The Placer County Economic and Demographic Profile 2013 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), the core 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 Center for Strategic Economic Research (CSER). Content for the Accommodations; Recreational Activities; and Community Events, Cultural Activities, Places of Historical Interest, and Other Entertainment sections of the Quality of Life chapter and the Directory was provided by the Placer County Office of Economic Development. Center for Strategic Economic Research i TABLE OF CONTENTS Page FOREWORD ................................................................................................. i TABLE OF CONTENTS ............................................................................. ii LIST OF FIGURES ...................................................................................... iii INTRODUCTION ......................................................................................... 1 DEMOGRAPHICS ....................................................................................... 4 Population .............................................................................................. 4 Migration ................................................................................................ 7 Age ......................................................................................................... 8 Ethnicity ................................................................................................. 13 Income .................................................................................................... 17 EDUCATION ................................................................................................ 19 Primary and Secondary Education ......................................................... 19 Educational Attainment .......................................................................... 25 Higher Education .................................................................................... 26 Community Colleges .............................................................................. 30 Public Universities ................................................................................. 32 Private Schools ....................................................................................... 36 Technical Schools and Vocational Training ........................................... 37 BUSINESS CLIMATE ................................................................................. 39 Industry Overview .................................................................................. 39 Labor Force ............................................................................................ 54 Wages ..................................................................................................... 56 Major Employers .................................................................................... 57 Recently Located Companies in Placer County ..................................... 58 Taxable Sales.......................................................................................... 59 Banking and Finance .............................................................................. 62 Workforce Development and Training Programs................................... 63 Economic Development and Business Resources .................................. 66 REAL ESTATE ............................................................................................. 72 Commercial Real Estate ......................................................................... 72 Residential Real Estate ........................................................................... 81 INFRASTRUCTURE .................................................................................... 86 Transportation ........................................................................................ 86 Utilities ................................................................................................... 96 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 .......................... 114 Tourism Resources ................................................................................. 126 DIRECTORY ................................................................................................ 127 Center for Strategic Economic Research ii 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: 2002-2012 and 2007-2012 Population Growth Rates .................... 5 Figure 4: Population Projections ................................................................... 6 Figure 5: Population in Placer County Places ............................................... 6 Figure 6: Percent of Population Growth Due to Net In-Migration ............... 7 Figure 7: Placer County Age Composition in 2011 ....................................... 8 Figure 8: Annual Age Composition and Composition Shift .......................... 10 Figure 9: Annual Population by Age and Percent Growth ............................ 12 Figure 10: Ethnic Composition in Placer County in 2011 ............................. 13 Figure 11: Annual Ethnicity Composition and Composition Shift ................ 14 Figure 12: Annual Population by Ethnicity and
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