South Sound Economy - UW Tacoma Home | UW Tacoma...Overview of PierceCounty • 2017 Estimated...
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5/14/18 South Sound Economy Ali Modarres Director of UrbanStudies University of Washington Tacoma Overview of Pierce County • 2017 Estimated Population = 869,920 • Grew by 58,240 over the last five years (7.2% growth) • Projected to grow by 44,390 over the next five years (5.1% growth) • 369,160 jobs in 2017 • Jobs grew by 27,080 over the last five years (7.9% increase) • Projected to grow by 30,840 over the next five years • Labor force participation grew from 60.9% to 61.6% over the last five years • 2016 Median Household Income = $61.5K, which was above the national median income of $55.3K. National Comparison • At 192,400, Pierce County has slightly larger millennial population (20-34) than the national average for an area this size • At 115,083, Pierce County has slightly less retiring age population than the national average for an area this size • Our racial diversity is relative low compared to the national average for an area this size. • Pierce county is home to a much larger veteran population than the national average for an area this size. 1
Transcript of South Sound Economy - UW Tacoma Home | UW Tacoma...Overview of PierceCounty • 2017 Estimated...
5/14/18
South Sound Economy
Ali Modarres Director of UrbanStudies
University of Washington Tacoma
Overview of Pierce County
• 2017 Estimated Population = 869,920• Grew by 58,240 over the last five years (7.2% growth)• Projected to grow by 44,390 over the next five years (5.1% growth)
• 369,160 jobs in 2017• Jobs grew by 27,080 over the last five years (7.9% increase)• Projected to grow by 30,840 over the next five years• Labor force participation grew from 60.9% to 61.6% over the last five years
• 2016 Median Household Income = $61.5K, which was above the national medianincome of$55.3K.
National Comparison
• At 192,400, Pierce County has slightly larger millennial population (20-34) than the national average for an area this size
• At 115,083, Pierce County has slightly less retiring age population than the national average for an area this size
• Our racial diversity is relative low compared to the national average for an area this size.
• Pierce county is home to a much larger veteran population than the national average for an area this size.
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Overview of Pierce County
PopulationLaborForce
(2017) Jobs(2017)Costof Living GRP (B) Imports (B) Exports (B)
Pierce County 869,918 429,251 369,155 116.0 $41.92 $51.55 $55.02
State 7,366,582 3,735,833 3,702,707 112.1 $478.31 $345.76 $471.19
Share (%) 11.8 11.5 10.0 103.5 8.8 14.9 11.7
320,000
310,000
360,000
350,000
340,000
330,000
410,000
400,000
390,000
380,000
370,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Jobs PierceCounty
Projection
63.00%
62.00%
61.00%
60.00%
59.00%
58.00%
57.00%
56.00% 2013 2014 2015 2016 January - November 2017 December 2017 January 2018October 2017
Labor ForceParticipation Pierce County
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9.00%
8.00%
7.00%
6.00%
5.00%
4.00%
3.00%
2.00%
1.00%
0.00%2013 2014 2015 2016 January - November 2017 December 2017 January 2018
October 2017
Unemployment Rate Trends Pierce County
Job Postings in the last 12 months
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Industry Cluster
• Assumptions regarding importance:• Growth and Regional Specialization – Medium• Earnings, GRP, and Regional Competitiveness - High
• Top Clusters:• Federal Government Services• Distribution and Electronic Commerce• Oil and Gas Production and Transportation• Local Government Services• Water Transportation• Local Education and Training
Industry Cluster
• Assumptions regarding importance:• Growth and Regional Specialization – High• Earnings, GRP, and Regional Competitiveness - Medium
• Top Clusters:• Water Transportation• Distribution and Electronic Commerce• Automotive• Federal Government Services• Food Processing and Manufacturing• Aerospace Vehicle and Defense
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Couple of Interesting Issues
50.7%
22.5%
14.2%
3.0%8.3%
1 to 4employees
5 to 9 employees
10 to 19 employees
20 to 49 employees
50 to 99 employees
100 to 249 employees
250 to 499 employees
500+ employees
Business Size
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EDUCATIONAL PIPELINE
Work, Home, Commute!
Job Concentration
All Workers
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live in Pierce County work
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Job Concentration
All Workers
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
All Workers
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
Earning $1,250per month or less
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
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Job Concentration
Earning between$1,251 and 3,333per month
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
Earning $3,333or more per month
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
GoodsProducing Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
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Job Concentration
GoodsProducing Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
Trade, Transportation,and Utilities Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
Trade, Transportation,and Utilities Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
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Job Concentration
All Other Services / Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Job Concentration
All Other Services / Industries
On the Map US Census Bureau
LODES 7.3
2015
This data represents where workers who live within the South
Sound Alliance boundary work
Pierce County Workers Commute Distance 10 miles or more
Age
29 and Younger 55.7%
30 - 54 57.9%
55+ 54.1%
Earnings
$1250 per month or less 50.4%
$1251 - $3333 per month 52.1%
More than $3333 per month 62.2%
Industry
Goods Producing 66.7%
Trades, Transportation and Utilities 63.9%
All other Service 51.1%
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Moving Forward
Source: City ofTacoma
Tideflats Subarea Plan
• Plan Concept or Vision• Preservation of industrial land
base• Economic role of the Center• Relationship to Comprehensive
Plan for the City• Market analysis
• Environment• Protection of sensitive areas• Stormwater management• Air pollution and greenhouse gas
emissions
• Economy• Economicdevelopment
strategies• Key sectors and industry clusters
• Public Services and Facilities• Capital plans and investments to
meet targeted growth• Transportation
• Freight movement• Employee commuting• Transit and mode
Source: City ofTacoma
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Development
Imagining Scenarios together
Urban and Industrial Futures
• Interface between the port and the built environment• Interface between the port and sensitive natural areas (tideflats)• Preservation of the industrial and manufacturing character of the
port and the established manufacturing zone• Economic development plan for the designated growth center
associated with the port and 167.• Interface between the port, transportation corridor, Tacoma, and
Fife.• Development of additional growth centers in the South Puget Sound
Our Roles
• To make this region thrive, we need to move beyond a single city solution.• We need a regional/multi-sector involvement that includes the
manufacturing, transportation and logistics sectors.
• This is also where Urban Studies and University of Washington Tacoma, asan Urban Serving University, come in.
• Let us bring our collective expertise to help imagine what the future mighthold for a region that does not abandon its productive character…a regionthat improves quality of life for everyone and expands the economic baseof the South Sound, by increasing production, improving wages, andbuilding an environment that is family friendly, protective of labor and attractive to investors.
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