Marquette Asset Management, Inc. Arizona Market Economic Update April 2013.
Economic Status of Marquette County November 2011
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Transcript of Economic Status of Marquette County November 2011
Lake Superior Community Partnership
DRIVING ECONOMIC DEVELOPMENT
The LSCP is an Economic Development Organization focused
on the creation and retention of JOBS in Marquette County
A PRIVATE/PUBLIC PARTNERSHIP FOR ECONOMIC DEVELOPMENT
22%
78%
PublicPrivate
Based on dues revenue
CO
LLA
BO
RATEThe Faces of the
Partnership• Lake Superior Community Partnership• Economic Development Corporation of
the County of Marquette
• LSCP Foundation
• Chairman’s Circle
• Marquette County Ambassadors• 40 Below: Marquette County Young
Professionals
• Lake Superior Leadership Academy
Certified Economic Developers
• One of only 29 accredited economic development organizations in the world
• First AEDO in the Upper Peninsula and the only in the State of Michigan
Amy Clickner, CEcDChief Executive Officer
Lois Ellis, CEcDV.P. of Economic Development
Accredited Economic Development Organization
Derek BushUpper Peninsula Economic
Development Liaison
Cathi ColeBusiness Development ManagerMichigan Economic Development
Corporation
Nick Sekmistrz
Community Assistance SpecialistMichigan Economic Development
Corporation
Donna LaCourt
Director of BioenergyBusiness Development
Michigan Economic Development Corporation
Doug DeYoungGovernment Relations Liaison
Northern Michigan Chamber Alliance
LSCP Regional Team
Total New Jobs: 1,737
Total Retained Jobs: 4,026
Investment: $422,971,000
ECONOMIC DEVELOPMENT 2011 BY THE NUMBERS (YTD)
ClientsStart-up: 49
Attraction: 36Expansion/Retention: 94
LSCP Dashboard
Economic Development2011 2010 Total Progress
Clients 179 85
Jobs Created 1,737 1,170
At-Risk Jobs Saved 4,026 3,010
EDC $ Loaned (YTD) 680,696 452,978
EDC Clients 13 10
Retention Visits 94 49
EmploymentAug '11 Aug '10 Progress
Unemployment Rate 8.5 9.1
Workforce 34,850 35,419
Total Employment 31,875 32,185
Total Unemployment 2,975 3,234
Marquette County Wealth2006 2007 2008 2009 2010 Progress
Population 65,129 65,165 65,462 65,703 67,077
Property Tax Revenue $56,453,883 $60,334,868 $64,177,780 $66,412,661 $69,585,222
Median Household Income $40,936 $45,536 $43,599 $41,273 $44,038
Per Capita Income $26,526 $27,783 $29,552 $31,316 $31,461
Median Home Sales Price $147,000 $150,000 $152,400 $142,000 $152,000
Population Growth
2000 64,634 2010 67,077
Population growth of 3.8% in Marquette CountyMichigan was only state that lost population in the 2010 U.S. Census
Marquette County as a Micropolitan
152
75
475
325
304298
345
314
176
495
468511514
280
548
482
204
521
*Micropolitan: An area with an urbanized area of at least 10,000 population but less than 50,000 population.
*Policom Corporation rankings put Marquette County at 152 out of the 576 Micropolitan areas in the country (Top 26% in the nation).
*Second in Michigan only to Traverse City who rank 75th.
In 2010, the median sale price increase by $10,000 or 7.0% to $152,000 which is virtually identical to the all-time high set in 2008.
It is interesting to point out that the 7.0% increase in the median price is lower than the 9.4% increase in the average. This is the result of considerably more of the high-end houses selling in 2010 compared to 2009. Marquette Area Residential Market Analysis - Closser Associates, Inc.
2006 2007 2008 2009 2010Total Sales 291 264 242 241 287Avg. No. Listings 171 199 246 220 230Days on Market 107 138 186 167 146Sales Vol (000) $49,458 $47,770 $40,679 $37,817 $49,278Avg. Sale Price $169,959 $180,947 $168,095 $156,917 $171,702Median S P $147,000 $150,000 $152,400 $142,000 $152,000% Chg. Med. S P 8.90% 2.00% 1.60% -6.80% 7.00%
Property Values
Notice that 9 of the Top 10 Counties are in the Upper Peninsula
Cliffs Michigan operations (2010):• Work Force: 1,598 employees• Annual Payroll (including benefits): $244 million• Annual Services & Supplies Purchased: $580 million• Michigan & Local Taxes: $10 million• Total Annual Economic Impact: $834 million
Economic Impact of Mining
Rio Tinto (Kennecott Eagle Minerals):• New Jobs: 220 • Construction Jobs: 500• Investment: $470 million
Orvana• Copperwood project in western U.P.
Aquila Resources• Back Forty project and gold exploration
Employer # of Employees
Marquette General Health System 2,619Cliffs Natural Resources, Michigan Operations 1,586Northern Michigan University 927Peninsula Medical Center 638Michigan Department of Corrections 425Bell Hospital 385Wal*Mart 380Marquette Area Public Schools 374County of Marquette 300AMR Regional Aircraft Maintenance Facility 253Pioneer Surgical 207Negaunee Public Schools 180PCBM Management-Country Village 180City of Marquette 175Gwinn Area Community Schools 170Pathways 158WE Energies 153Potlatch 152Ojibwa Casino II 143Target 125
2011 Principal Employers