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HEDC Economic Baseline Report

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HEDC Economic Baseline Report June 2018 EconomicEconomic BaselineBaseline ReportReport Haines Economic Development Plan PREPARED FOR Haines Economic Development Corporation PREPARED BY Economic Baseline Report Haines Economic Development Plan June 2018 PREPARED FOR Haines Economic Development Corporation PREPARED BY Pantone 3165 C 100 M 53 Y 53 K 33 R 0 G 78 B 89 Tint at 60% Pantone 7751 C 22 M 24 Y 85 K 0 R 205 G 181 B 75 Pantone 175 C 35 M 81 Y 86 K 39 R 118 G 54 Bwww.mcdowellgroup.net 37 Tint at 70% Table of Contents Introduction .................................................................................................................................................... 1 Background ......................................................................................................................................................................................... 1 Why Conduct Economic Development Planning? ............................................................................................................... 1 The Economic Baseline Report .................................................................................................................................................... 1 Additional Economic Baseline Research Needs .................................................................................................................... 2 How to Use this Report .................................................................................................................................................................. 3 Economic Baseline Report Organization ................................................................................................................................. 4 Baseline Summary .......................................................................................................................................... 5 Chapter 1. Current Economic Conditions and Trends .............................................................................. 10 Personal Income .............................................................................................................................................................................. 10 Employment and Wages .............................................................................................................................................................. 17 Business Sales ................................................................................................................................................................................... 28 Subsistence ....................................................................................................................................................................................... 29 Chapter 2. Demographics ............................................................................................................................ 30 Haines Population Profile ............................................................................................................................................................ 30 Chapter 3. Housing and Transportation .................................................................................................... 36 Housing Market and Inventory ................................................................................................................................................. 36 Transportation .................................................................................................................................................................................. 39 Chapter 4. Industry Profiles ......................................................................................................................... 48 Introduction ...................................................................................................................................................................................... 48 Visitor Industry ................................................................................................................................................................................. 48 Mining Industry ............................................................................................................................................................................... 59 Seafood Industry ............................................................................................................................................................................. 64 Arts and Culture .............................................................................................................................................................................. 71 Forest Products ................................................................................................................................................................................ 73 Agriculture ......................................................................................................................................................................................... 77 Health Care and Social Services ................................................................................................................................................ 80 Haines’ Nonprofit Sector ............................................................................................................................................................. 81 Appendix: Telephone and Online Survey Results ..................................................................................... 82 List of Tables Table 1. Haines Borough Resident Total Personal Income, Nominal and Inflation-Adjusted (Real), millions, 2007 – 2016 .............................................................................................................................................................................................................. 10 Table 2. Selected Components of Haines Personal Income, 2007 to 2016 (millions) ..................................................... 12 Table 3. Haines Borough Per-Capita Personal Income (Nominal and Real Dollars), 2007-2016 ................................ 13 Table 4. Per-Capita Personal Income (Nominal Dollars), 2012-2016 ..................................................................................... 13 Table 5. Mean and Median Household Income, 2012-2016 ..................................................................................................... 14 Table 6. Mean and Median Family Income, 2012-2016 .............................................................................................................. 14 Table 7. Percent of Haines Population Below Poverty Level by Age, 2012-2016 Five-Year Estimate ....................... 15 Table 8. Percent of Population Below Poverty Level by Age, Haines, Petersburg, Wrangell and Alaska, 2012- 2016 Five-Year Estimate........................................................................................................................................................................... 15 Table 9. Number of Tax Returns, Adjusted Gross Income, and Total Income, by Adjusted Gross Income Bracket, Haines Borough, 2015 .............................................................................................................................................................................. 15 i Table 10. Number of Tax Returns including and Total Income from Selected Sources, by Adjusted Gross Income Bracket, Haines Borough, 2015 ............................................................................................................................................................. 16 Table 11. Number of Tax Returns and Amount of Income from Selected Retirement Income Sources, by Adjusted Gross Income Bracket, Haines Borough, 2015 ................................................................................................................................ 16 Table 12. Number of Tax Returns and Amount of Income from Business and Professional Income Sources, by Adjusted Gross Income Bracket, Haines Borough, 2015 ............................................................................................................ 17 Table 13. Employment and Wages, Selected Industries, Haines Borough, 2016 .............................................................. 18 Table 14. Monthly Employment, Selected Industries, Haines Borough, 2016 .................................................................... 19 Table 15. Haines Borough Average Annual Employment, Total Annual Wages, and Average Monthly Wage, 2007-2016 ..................................................................................................................................................................................................... 20 Table 16. Haines Monthly Employment, January Through September, 2016 and 2017 ................................................ 20 Table 17. Haines Average Annual Employment by Sector, 2007-2016 ................................................................................. 21 Table 18. Average Annual Employment, Selected Industries, Haines Borough, 2012-2016 ......................................... 22 Table 19. Haines Borough Workers by Residency, 2016............................................................................................................. 23 Table 20. Haines Borough Wages by Residency, 2016 ...............................................................................................................
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