2018 Economic Report - rockcountyalliance.com · Income Source: Bureau of Economic Analysis $0 $10,000 $20,000 $30,000 $40,000 $50,000 Per Capita Personal Income: 2001 - 2017 Wisconsin

51 South Main StreetJanesville, WI 53545P.608.757.5598RockCountyAlliance.com

2018 Economic Report

This information was collected from primary and secondary data sources deemed reliable. Please note this information is subject to change without notice.

2018 Economic Dashboard Report

• Agency Overview

• Trends & Observations

• Q&A


Agency Overview

• Provides consultative economic development services, which promote, position and prepare Rock County for opportunities that augment and enhance its assets.

• Represent and/or Bridge Public & Private Sector Interests

• Service Portfolio

Business, Community & Workforce Development

Communications & Marketing

Data Clearinghouse

Government Affairs

Incentive & Infrastructure

Planning & Project Management

Rock County’s ED Plan

Interrelated Local & Countywide Plans Implemented by

• Strategic Focus Areas

- Business Retention & Expansion - Business & Investment Attraction

- Small Business & Entrepreneurship - Real Estate Positioning

- Workforce Profiling

• Goals

- One Voice, One Vision - Build the Brand, Boost the Image & Celebrate Wins

- Improve Existing Business & Workforce Relationships

- Establish New Relationships & Reach Decision Makers

- Create Value-Added Data & Tools

Collaborate Communicate Connect

General Overview: Status Assessment

Then (2008-2009) Now (2010-2018)

Fractured (local) Politics & Leadership Alignment, Vision & Collaboration

Questionable Confidence Optimism

Plummeting Economic Indicators Consistent Momentum, Stability

Negative Business Climate & Market Perceptions

Improving Brand Equity

Lean / Limited ED Investments Improving Project Flow, Diversity & Outcomes

Non-Existence, Limited or Ineffective Tools

Creative, Value-Added Resources

Ambitious Ideas, Uncharted Waters Right-Sized, Realistic Expectations

Trends & Observations

• Employment & Industry Sectors

• Gross Domestic Product

• Income & Wages

• Sales & Use Tax Collections

• Tourism Expenditures

• Property Values & Segment Highlights

• Economic Development Pipeline

• Dashboard Summary


Unemployment

Source: WI Department of Workforce Development

3.2%

12.5%

Employment by Industry

Source: Bureau of Labor Statistics, Quarterly Census of Employment & Wages

2008 2010 2012 2014 2016

Industry U.S. WI RC U.S. WI RC U.S. WI RC U.S. WI RC U.S. WI RC

Natural Resources &

Mining 1.4 0.9 0.7 1.4 0.9 0.8 1.5 1.0 0.8 1.5 1.0 0.9 1.3 1.1 1.0

Construction 5.0 4.5 4.3 4.1 3.6 4.1 4.0 3.5 3.9 4.3 3.7 4.0 4.7 3.9 4.3

Manufacturing 10.0 17.8 19.0 9.0 16.3 13.8 9.1 16.9 15.0 8.9 16.7 15.0 8.7 16.5 15.0

Trade, Transportation

& Utilities 20.4 20.0 24.1 20.2 19.7 25.2 20.1 19.5 24.3 20.0 19.4 24.1 19.9 19.5 24.3

Information 2.3 1.9 1.8 2.2 1.8 1.9 2.1 1.8 1.9 2.1 1.8 2.7 2.1 1.8 2.4

Financial Activities 6.0 5.8 2.8 5.9 5.8 3.0 5.8 5.6 2.9 5.7 5.5 2.7 5.7 5.3 2.7

Professional &

Business Services 13.3 10.2 7.3 13.2 10.3 7.4 13.7 10.8 7.8 14.1 11.1 9.0 14.2 11.4 9.2

Education & Health

Services 21.9 21.0 22.1 23.6 22.7 25.0 23.4 22.3 25.0 23.4 22.2 23.9 23.7 22.6 23.7

Leisure & Hospitality 10.3 9.7 9.7 10.5 9.9 10.2 10.8 9.9 10.4 11.1 9.9 10.2 11.2 10.0 10.3

Other Services 3.4 3.1 2.9 3.4 3.3 3.0 3.5 3.3 2.8 3.1 3.0 2.6 3.1 3.0 2.6

Public Administration 5.5 5.1 5.1 5.9 5.4 5.8 5.5 5.2 5.3 5.3 5.0 5.1 5.2 4.9 4.7

Unclassified 0.2 0.2 0.0 0.1 0.3 0.0 0.1 0.4 0.0 0.2 0.8 0.0 0.2 0.2 0.0

Percent of Employment

Job Postings

Source: SW Workforce Development Board, WANTED Analytics & EMSI

Approx. 60% of Openings are

from Rock County

Gross Domestic Product

Source: Bureau of Economic Analysis, U.S. Department of Commerce

Top 25 MSA in U.S.

GDP (2012-2013 )

$5.1 Billion

$6.6 Billion

Bill

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Income

Source: Bureau of Economic Analysis

$0

$10,000

$20,000

$30,000

$40,000

$50,000

Per Capita Personal Income: 2001 - 2017

Wisconsin United States Rock, WI

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

2001

Rock $27,441

WI $30,852

US $31,581

2008

Rock $33,638

WI $38,914

US $40,904

2017

Rock $42,406

WI $48,941

US $51,640

Wages


Recognized by Milken Institute as a Top Performing City for Job & Wage Growth

Wages


Sales & Use Tax Collections

Source: WI Department of Revenue

April –Dec.

$10.3 MM

$13.2 MM

Tourism Expenditures

Source: WI Department of Tourism

$-

$50.0

$100.0

$150.0

$200.0

$250.0

2010 2011 2012 2013 2014 2015 2016 2017

Mil

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Rock County Annual Tourism Expenditures

$159.4 MM

$244.7 MM

Property Values

Source: WI Department of Revenue

$8,000

$8,400

$8,800

$9,200

$9,600

$10,000

$10,400

$10,800

$11,200

$11,600

$12,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Bill

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Rock County Equalized Property Values

$10.7 Billion

$11.5 Billion

Residential Permits

Source: McGraw Hill Construction Report

0

50

100

150

200

250

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Nu

mb

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of

Pe

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Rock County Single-Family Permits

230238

Residential Price Points

Source: South Central WI MLS Corporation

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

ASP $138,112

MSF $129,000

ASP $171,176

MSF $158,500

Foreclosures & Bankruptcies

Source: Rock County Clerk of Courts; U.S. District Court, WI, Western Division

Development Pipeline

This information was collected from primary and secondary data sources deemed reliable. Please note this information is subject to change without notice. The time period represented by these figures is YR 2010 through YR 2018

0

5

10

15

20

25

30

35

Broker / Consultant Company WEDC / Partner

Number of Projects by Source & Year

2010 2011 2012 2013 2014 2015 2016 2017 2018

AVG Project Size

128,375 SF

98 Jobs

$19.2 MM CapEx

Development Pipeline

This information was collected from primary and secondary data sources deemed reliable. Please note this information is subject to change without notice. The time period represented by these figures is YR 2010 through YR 2018

2010 2011 2012 2013 2014 2015 2016 2017 2018

Just the Numbers (2010-2018)

This information was collected from primary and secondary data sources deemed reliable. Please note this information is subject to change

without notice. The time period represented by these figures is YR 2010 through YR 2018

• 130+ Private Sector Development Projects

• $2.13+ Billion in new Capital Investment

• 5,415+ new Jobs Created

• 5.71 Million SF Constructed

• 3.87 Million SF Leased or Sold

A Sampling of Project Announcements

This information was collected from primary and secondary data sources deemed reliable. Several companies were responsible for multiple projects; therefore, their

logos are only displayed once.

4

Goal Application / Translation

Assessment Status

One Vision, One Voice Cooperate & Collaborate

Build the Brand, Boost the Image & Celebrate the Wins

Redefine & Shift the Message

Improve Business & Workforce Relationships

Connect & Communicate

Establish New Relationships & Reach Decision Makers

Contact & Project Diversity

Create Value-AddedData & Tools

Enhance ED Program & Service Portfolio

Building & Keeping Momentum

Questions / Comments

• Additional Information

- ED Plan/Updates www.RockCounty5.com

- Data www.RockCountyAlliance.com

- Relocation www.ConsiderRockCounty.com

- Tourism www.RockCounty.org

- Workforce www.JobsInRockCounty.com

www.InspireRockCounty.org

51 South Main StreetJanesville, WI 53545P.608.757.5598RockCountyAlliance.com


http://www.rockcounty5.com/

http://www.rockcountyalliance.com/

http://www.considerrockcounty.com/

http://www.rockcounty.org/

http://www.jobsinrockcounty.com/

http://www.inspirerockcounty.org/

Documents

2018 Economic Report - rockcountyalliance.com · Income Source: Bureau of Economic Analysis $0 $10,000 $20,000 $30,000 $40,000 $50,000 Per Capita Personal Income: 2001 - 2017 Wisconsin