Download - Economic Futures Workshop Rice County October 14, 2009 Brigid Tuck, David Nelson and Bruce Schwartau University of Minnesota Extension ©2009 Regents of.

Economic Futures Workshop

Rice County

October 14, 2009Brigid Tuck, David Nelson and Bruce Schwartau

University of Minnesota Extension

©2009 Regents of the University of Minnesota. All rights reserved.

Rice County Economy

Population: 61,955

Employment: 31,294

Households: 22,003

Industries: 179 out of a possible 440

Note: This data is based on IMPLAN (Minnesota IMPLAN Group, Inc) data.


Rice County Economy

Total Output by Major Industry Category 2007

Manufacturing47%

Construction8%

Government6%

All Other30%

Real Estate/Rental

5%

Educational Services

4%

Total Output: $4.4 billion


Rice County Economy

Total Employment by Major Industry Category 2007 Manufacturing

15%

Government14%

Retail Trade11%

All Other42%

Health and Social Services

10%


8%

Total Employment:31,295


Rice County Economy

Total Labor Income by Major Industry Category 2007

Manufacturing24%

Government18%


9%

All Other33%

Construction9%

Retail Trade7%

Total Labor Income:$1,142 million©2009 Regents of the University of Minnesota. All

rights reserved.

Rice County Economy

Top 10 Industries (Output)

Breakfast Cereal Manufacturing

Air Conditioning – Refrigeration – and Warm Air Heating Equipment Manufacturing

Fruit and Vegetable Canning – Pickling – and Drying

Wholesale Trade Businesses

Imputed Rental Activity for Owner-Occupied Dwellings

Private Junior Colleges – Colleges – Universities and Professional Schools

Poultry Processing

State and Local Government – Non-Education

Construction – New Residential

State and Local Government – Education

Top Ten Total

All Industries Total

2007 Total Output

$ 537,883,000

$ 352,876,000

$ 271,630,000

$ 176,879,000

$ 169,331,000

$ 166,521,000

$ 132,849,000

$ 109,161,000

$ 99,700,000

$ 95,260,000

$ 2,112,090,000

$ 4,385,940,000

% of Total Output

12.3%

8.0%

6.2%

4.0%

3.9%

3.8%

3.0%

2.5%

2.3%

2.2%

48.2%

100.0%


Rice County Economy

Top 10 Industries (Employment)

Private Junior Colleges – Colleges – Universities and Professional Schools

State and Local Government – Non-Education

State and Local Government – Education

Food Services and Drinking Places

Nursing and Residential Care Facilities

Wholesale Trade Businesses

Construction – New Non-residential, Commercial

Offices of Physicians, Dentists, and Other Health Practitioners


Civic – Social – Professional and Other Similar Organizations

Top Ten Total

All Industries Total

2007 Employment

2,026

1,952

1,782

1,778

1,293

1,124

821

755

713

711

12,955

31,294

% of Employment

6.5%

6.2%

5.7%

5.7%

4.1%

3.6%

2.6%

2.4%

2.3%

2.3%

41.4%

100.0%©2009 Regents of the University of Minnesota. All

rights reserved.

Grain Agriculture

Output: $6,700,000

Labor Income: $1,000,000

Grain agriculture payments are typically not directly to labor. Output value can vary

widely by year.

Economic Impact of 100 Jobs

7 15

100 122

0

20

40

60

80

100

120

140

Direct Indirect Induced Total

Job

s

Balance Retail Trade Real Estate Ag/Forestry/Fish

Industry Employment

100 574

0 200 400 600 800

New Jobs Current Employment


Glass Manufacturing

Output: $24,900,000


Glass manufacturing is highly capital-intensive.


39 45 100

184

0

50

100

150

200

250


Job

s

Balance Wholesale Trade Retail Trade Manufacturing

Industry Employment

100 283

0 200 400 600



Wind Component Manufacturing

Output: $24,239,534


Wind Components are not currently manufactured in Rice County


22 26

100148

020406080

100120140160180


Job

s

Balance Retail Trade Wholesale Trade Lodging/Food

Industry Employment

100

0 50 100 150



Agricultural Support Activities

Output: $4,184,105


Agricultural support activities are primarily service-based, therefore, high labor income

and induced impacts.


14 1

100 115

0

20

40

60

80

100

120

140


Job

s

Balance Retail Trade Health and Social Svcs Lodging/Food

Industry Employment

100 69

0 50 100 150 200



Circuitry Manufacturing

Output: $26,954,174


Agricultural.


32 34 100

166

0

50

100

150

200

250


Job

s

Balance Retail Trade Wholesale Trade Manufacturing

Industry Employment

100 116

0 100 200 300



Computer Data Warehousing

Output: $26,763,586


Although Computer Data Warehousing has a similar overall impact as Circuitry

Manufacturing, the distribution of the impacts is very different.


32 35 100

167

0

50

100

150

200

250


Job

s

Balance Lodging and Food Services Retail Trade Health and Social Services

Industry Employment

16 100

0 50 100 150

Current Employment New Jobs


Computer Software Development

Output: $32,512,596


Although


34 49 100

183

0

50

100

150

200

250


Job

s

Balance Lodging & Food Svcs Administrative & Waste Svcs Retail Trade

Industry Employment

25 100

0 50 100 150



Construction of New Nonresidential Commercial Structures

Output: $14,545,111


Although


20 14

100134

0

2040

60

80

100120

140

160


Job

s

Balance Retail Trade Lodging and Food Services Health and Social Services

Industry Employment

100 821

0 500 1000



Fabricated Metal Manufacturing

Output: $18,634,540


Although


145 100

19 26020406080

100120140160180


Job

s


Industry Employment

72 100

0 50 100 150 200




Output: $89,283,188


Why does this have such a big multiplier?

High output and income per worker

Established industry – economies of scale

Local purchases? Transport/Ware and Wholesale – built infrastructure


224 100 76 48

0

50

100

150

200

250

300


Job

s

Balance Wholesale Trade Retail Trade Transportation & Warehousing

Industry Employment

100 713

0 500 1000



Nursing and Residential Care Facilities

Output: $3,962,087


Nursing and Residential Care Facilities are one of the largest industry employers in Rice

County.


110 100

4 60

20

40

60

80

100

120

140


Job

s

Balance Lodging and Food Services Retail Trade Health and Social Services

Industry Employment

100 1293

0 500 1000 1500



Medical/Diagnostic Labs & Outpatient Care

Output: $15,737,037


Nursing


136 100 14 21

020406080

100120140160180


Job

s


Industry Employment

37 100

0 50 100 150

Current Employment 100 Jobs


Retail Trade – General Merchandise

Output: $6,303,455


General Merchandise .


116 100

6 100

20

40

60

80

100

120

140


Job

s


Industry Employment

100 480

0 200 400 600 800



Surgical/Medical Instrument Manufact.

Output: $33,918,320


This industry does not currently exist in Rice County.


116 100 6 34

0

50

100

150

200

250


Job

s

Balance Retail Trade Manufacturing Lodging and Food Services

Industry Employment

100 0

0 50 100 150



Truck Transportation

Output: $16,930,612


Truck


149 100

26 230

50

100

150

200


Job

s

Balance Transport and Warehouse Retail Trade Health/Social Services

Industry Employment

100 417

0 200 400 600



Veterinary Pharmaceutical Manuf.

Output: $60,424,348


This industry


230 100 81 49

0

50

100

150

200

250

300

350


Job

s

Balance Wholesale Trade Manufacturing Retail Trade

Industry Employment

100 0

0 50 100 150



Wholesale Trade

Output: $20,758,899


This industry


151 100

21 300

20406080

100120140160180


Job

s


Industry Employment

100 1,124

0 500 1000 1500

