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Central Georgia Regional Analysis: Demographics, Economy, Entrepreneurship and Innovation

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Central Georgia Regional Analysis: Demographics, Economy, Entrepreneurship and Innovation Cleveland State University EngagedScholarship@CSU Maxine Goodman Levin College of Urban Urban Publications Affairs 1-2013 Central Georgia Regional Analysis: Demographics, Economy, Entrepreneurship and Innovation Merissa Piazza Cleveland State University, [email protected] Joe Andre Elorm M. Tsegah Eunkyu Lee Ziona Austrian Cleveland State University, [email protected] Follow this and additional works at: https://engagedscholarship.csuohio.edu/urban_facpub Part of the Economic Policy Commons, and the Urban Studies and Planning Commons How does access to this work benefit ou?y Let us know! Repository Citation Piazza, Merissa; Andre, Joe; Tsegah, Elorm M.; Lee, Eunkyu; and Austrian, Ziona, "Central Georgia Regional Analysis: Demographics, Economy, Entrepreneurship and Innovation" (2013). Urban Publications. 0 1 2 3 685. https://engagedscholarship.csuohio.edu/urban_facpub/685 This Report is brought to you for free and open access by the Maxine Goodman Levin College of Urban Affairs at EngagedScholarship@CSU. It has been accepted for inclusion in Urban Publications by an authorized administrator of EngagedScholarship@CSU. For more information, please contact [email protected]. Prepared for: CENTRAL GEORGIA JUMPSTART AMERICA REGIONAL ANALYSIS: DEMOGRAPHICS, Prepared by: Merissa C. Piazza ECONOMY, Joe Andre ENTREPRENEURSHIP Elorm M. Tsegah Eunkyu Lee AND INNOVATION Ziona Austrian, Ph.D. January 2013 CENTER FOR ECONOMIC DEVELOPMENT August 2010 2121 Euclid Avenue Cleveland, Ohio 44115 http://urban.csuohio.edu/economicdevelopment This page intentionally left blank TABLE OF CONTENTS Executive Summary ........................................................................................................................................ i Demographics ............................................................................................................................................ i Industry and Economy .............................................................................................................................. ii Entrepreneurship and Innovation ............................................................................................................ iii Concluding Comments ............................................................................................................................. iv Chapter 1: Demographics ............................................................................................................................. 1 Demographic Analysis ............................................................................................................................... 2 Population & Growth ............................................................................................................................ 2 Race Distribution................................................................................................................................... 3 Hispanic Population .............................................................................................................................. 5 Per Capita Income ................................................................................................................................. 6 Poverty Level ......................................................................................................................................... 7 Education Measures ............................................................................................................................. 8 Chapter 2: Economy and Industry .............................................................................................................. 10 Review of Other Studies: Economy ......................................................................................................... 11 Economic Climate ............................................................................................................................... 11 Industry Clusters ................................................................................................................................. 11 Aerospace ...................................................................................................................................... 12 Healthcare/Hospitals ..................................................................................................................... 12 Kaolin ............................................................................................................................................. 13 Warehousing and Distribution ....................................................................................................... 13 Heritage and Ecotourism ............................................................................................................... 13 Economic Development Organizations ............................................................................................... 14 MaconNOW! .................................................................................................................................. 14 NewTown Macon ........................................................................................................................... 15 Main Street Macon ........................................................................................................................ 15 Infrastructure Investment ................................................................................................................... 15 Connect Central Georgia ................................................................................................................ 15 Airports .......................................................................................................................................... 16 Industry Analysis ..................................................................................................................................... 17 Employment Trends ............................................................................................................................ 17 Trends in Gross Product ...................................................................................................................... 20 Trends in Average Wage ..................................................................................................................... 23 High Performance Industries .............................................................................................................. 26 “Winning” Industries – Tier I .......................................................................................................... 26 Average Wage by Employment Change and Employment Level (Tier I) ................................. 30 Average Wage by Location Quotient and Total Gross Product (Tier I) ................................... 30 “Winning” Industries – Tier II ......................................................................................................... 31 Average Wage by Employment Change and Employment Level (Tier II) ................................ 35 Average Wage by Location Quotient and Total Gross Product (Tier II) .................................. 35 Employment Location Quotient ..................................................................................................... 36 Gross Product Location Quotient .................................................................................................. 37 Unemployment ................................................................................................................................... 38 Employment Dynamics ....................................................................................................................... 39 Industry Occupations .......................................................................................................................... 41 Top Employers .................................................................................................................................... 43 Fast Growth Firms ............................................................................................................................... 45 Foreign Direct Investment .................................................................................................................. 46 Economic Inclusion (Minority- and Women-Owned Businesses) ....................................................... 48 Minority Inclusion .......................................................................................................................... 48 Women-Owned Businesses ........................................................................................................... 50 Economic Development Organizations ............................................................................................... 51 State Economic Development Organizations ................................................................................ 51 Regional Economic Development Organizations ........................................................................... 52 County and City Economic Development Organizations ............................................................... 53 Chapter 3: Entrepreneurship and Innovation ............................................................................................. 54 Review of Other Studies: Summary of Findings .....................................................................................
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