M

 

EconMay 2017

nomicc Indicato

                   

ors: 2

Vail Valley 

Report Autho

                             

2017

Partnership/V101 Fawcett Rd

vailvalleyparor: Andrej A. Birju

                           

/Vail Valley Ecd., Ste. 240 | Avortnership.com | vulin, Ph.D., Resea

Pconomic Deveon, CO 81620 | 97vailvalleymeansbarch Director | 97

       

Prepared by: elopment 70‐476‐1000  usiness.com 70‐328‐0299 

                     

 

 

Vail Valley Ec

20,000

40,000

60,000

80,000

100,000

199

Grow

conomic Develo

21,928

30,8

90 1995 Est.

wth 1990‐2000: 9

opment

883

41,659

2000 200

E

Da

Growth 200

90% 

49,421 52,

05 Est. 2010

Eagle Coun

ata Source: Colora

0‐2010: 25% 

Projected Growt

20

071 53,320

2015 Est. 2Fo

nty Popula

ado State Demog

th 2010‐2020: 16

Projected G

017 Economic

60,579

2020orecast

2025Forecas

ation

grapher June  20

6% 

rowth 2020‐2030

Projec

indicators

68,393

76,58

st2030

Forecast F

017

0: 26% 

cted Growth 203

81

85,174

93,

2035Forecast

204Forec

0‐2040: 22% 

2

 

481

40cast

 

 

Vail Valley Ec

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

conomic Develo

6,51

4

5,190

1,0

2

4,58

2006

opment

19

4,891

0

098

96

7

6

Esti

Data 

imated Pop

Source: Colorad

20

6,372

6,447 6,445

1,017

263

5,240

2011

pulation b

do State Demogra

017 Economic

by Town

apher June 2017

indicators

6,9

1

5

20

6,5706,748

983

1,047

280

5,486

16

AvonEagleGypsumMinturnRed CliffVail

3

 

Vail Valley Ec

0

20,000

40,000

60,000

80,000

100,000

199

0%10%20%30%40%50%60%70%80%90%

100%

199

Perc

conomic Develo

0 2000

Populati

90 2000

cent of Popu

opment

2010 2020

ion by Age C

2010 2020

ulation in Eac

Da

An Agin

2030 204

Category

2030 204

ch Age Categ

ata Source: Color

20

ng Populat

40

85‐90+

65‐84

45‐64

25‐44

0‐24

40

gory

85‐90+

65‐84

45‐64

25‐44

0‐24

rado State Demo

017 Economic

tion 

 

 

Eagle Cgroups grow dithose b Both th25) as wof 25-44somewhCounty2030. While again popgrowth in the oand oldpopulatis expectotal byin placeto grow

grapher June 201

indicators

County is agingabove 65 yearisproportionalelow 65 years.

he younger popwell as the “fam4 are projectedhat smaller pro

y’s total residen

all age groups apulation by 20relative to cur

older adult segmder are about 9tion currently, cted to make uy 2020 and 16%e and by in-migwth in the olde

17  

g. That is, age rs are forecast lly faster than .

pulation (undemily age” groud to become oportion of thnts from 2010

are expected t030, the higherrent status coment. Adults 6

9% of the and that segm

up 12% of the% by 2030. Agration contrib

er age groups.

4

to

er up a

he to

to st

omes 65

ment e ging bute

 

 

Vail Valley Ec

15,000

20,000

25,000

30,000

35,000

40,000

conomic Develo

19,209

2010

Housing Un

Total HousVacant HouHousehold 

opment

19,961

2015

E

Dat

nits 2015

ing Unitsusehold UnitsVacancy Rate

22,100

2020

Eagle Coun

ta Source: Colora

31,93712,209

38%

20

25,773

2025

nty Househ

ado State Demog

017 Economic

29,984

2030

holds

grapher June 201

indicators

4

33,8

2035

17 

898

37

2040

5

 

,643

 

 

 

Vail Valley Ec

0%

2015_Est

2010 Census

2005 Est.

2000 Census

conomic Develo

32%

30%

23%

23

20%

opment

% 40%

Dem

Data Source: Co

7

77

77

60%

mographics

olorado State De

20

68%

70%

7%

7

80%

: Race and

emographer June

017 Economic

100%

d Ethnicity

e 2017 

indicators

%

Hisp

Non

The Hispanicontinues toEagle Counttwo-thirds o(66%) is whiOther races than 3% of t

panic

‐Hispanic

ic populationo grow inty. About

of the Countyite, non-Hispmake up lessthe populatio

6

 

n

y panic. s on.

 

Vail Valley Ec

0

20

40

60

80

Percen

t

conomic Develo

87.3%

Percent  High

opment

89.9%85.7

h School Gradu

D

Data Source:

7%

ates

Demograph

: 2011‐2015 Ame

20

47.5%

Percent Bac

hics: Educa

erican Communiti

017 Economic

36.7%

2

chelor's Degree

ation

ies Survey  

indicators

28.5%

e or Higher

Eagle Co

Colorado

U.S.

7

 

unty

o

Vail Valley Ec

20

40

60

80

conomic Develo

0

0,000

0,000

0,000

0,000

0

4

8

12

16

Percen

t

opment

72,214

Eagle County

9.2

Eagle County

P

D

Demogr

Median H

Percent of Ind

Data Source: 201

20

aphics: Inc

60,629

Colorado

Household Inc

12.7

Colorado

dividuals Belo

11‐2015 American

017 Economic

come 

come

ow Poverty Lin

n Communities S

indicators

53,889

U.S.

15.5

U.S.

ne

Survey 

 

 

8

 

Vail Valley Ec

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

200

0.0

2.0

4.0

6.0

8.0

10.0

200

Percen

t

conomic Develo

07 2008

Nu

Nu

Nu

07 2008

opment

2009

umber in Labor F

umber Employed

umber Unemplo

2009

Data

Local 

2010 20

Force

d

oyed

2010 20

Unemploym

a Source: Colorad

20

Employme

011 2012

011 2012

ment Rate

do Dept. of Labor

017 Economic

ent 

2013

Averag2016 An

Eagle CColorad

2013

r and Employmen

indicators

2014 20

ge Weekly Wagnnual

Countydo

2014 20

nt

015 2016

ge

$   838$1,052

015 2016

9

 

 

6

6

Vail Valley Ec

‐8.0%

‐6.0%

‐4.0%

‐2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Percen

t Cha

nge from

 Prio

r Year 

‐0.05

‐0.04

‐0.03

‐0.02

‐0.01

0

0.01

0.02

0.03

Employed

 Ratio M

inus 

Labo

r Ratio

conomic Develo

2008 20

2008 20

Data S

opment

Local Em

009 2010

009 2010

Source: Colorado

mploymen

0 2011

0 2011

o Dept. of Labor a

20

nt: Year‐on

2012

2012

EconNumYear‐in the

and Employment

017 Economic

n‐Year Chan

2013

LabEmAv

2013

nomic Stresss: Yember of Individua‐on‐Year Change Labor Force.

t and Bureau of E

indicators

nges 

2014 20

bor Forcemploymentverage Weekly W

2014 20

ear‐on‐Year Chaals Employed Mge in Number of 

Economic Analys

015 2016

Wages

015 2016

ange in Minusf Individuals

sis 

10

 

 

6

6

 

 

Vail Valley Ec

5

5

conomic Develo

Ma

7%

7%

%

5%

4%

4%

2

opment

arket Segm

10%

11%

2016 Annua

Data S

mentation: 

2

11%

l

Source: Colorado

20

Employee

24%

12%

o Department of L

017 Economic

es by Indus

Accommo

Arts, Ente

Retail Tra

Construct

Health Ca

Administr

Public Ad

Real Estat

Education

Professio

All Other

Labor and Emplo

indicators

stry sector

odation & Food

ertainment & Re

ade

tion

are & Social Ass

rative & Waste 

dministration

te, Finance, Ins

n Services

onal, Scientific &

oyment

r 

d Services

ecreation

sistance

Services

urance

& Technical Svc

11

 

 

 

Vail Valley Ec

1

conomic Develo

Mark

11%

1%

14%

21%

opment

ket Segmen

7%1%

%

2016 

Data

ntation: Es

8%

3%

5%

Annual

 Source: Colorad

20

stablishme

11%

18%

do Department of

017 Economic

ents by Ind

Accommo

Arts, Ente

Retail Tra

Construct

Health Ca

Administr

Public Ad

Real Estat

Education

Professio

All Other

f Labor and Empl

indicators

dustry sect

odation & Food

ertainment & Re

ade

tion

are & Social Ass

rative & Waste 

dministration

te, Finance, Ins

n Services

onal, Scientific &

loyment 

tor 

d Services

ecreation

sistance

Services

urance

& Technical Svc

12

 

 

Vail Valley Ec

2

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

conomic Develo

,367,789 2,35

2007 20

opment

55,829

1,876,

008 200

486

1,911,03

09 2010

Eagle Cou(in 

 Data Source: C

20

32,067,156

2011

nty Retail Thousands)

Colorado Departm

017 Economic

2,115,789

2012

Sales

ment of Revenue

indicators

2,263,6832,3

2013

e 

391,083

2,50

2014 20

13

 

07,384

015

 

Vail Valley Ec

$12

$0

$2,000,000

$4,000,000

$6,000,000

$8,000,000

$10,000,000

$12,000,000

$14,000,000

$16,000,000

conomic Develo

2,972,114

$12,035

2007 2008

opment

,363

$10,211,721$1

8 2009

Eagle(Quarter

Data S

10,052,325$10,666,

2010 2011

e County Srs Correspond to

Source: Eagle Co

20

,918$10,999,555

$11

1 2012

Sales Tax Co Dates Collecte

unty Departmen

017 Economic

1,992,769

$12,911

2013 2014

Collectionsed, Not Received

t of Finance

indicators

1,121

$14,205,032$14

4 2015

d)

4,561,666

2016

4th 

3rd 

2nd 

1st Q

14

 

Qtr.

Qtr.

 Qtr.

Qtr.

N

 

T(

 

M

 

Vail Valley Ec

 

Number Sold

Percent of Prev

Total Dollar V(in Thousands

Percent of Prev

Mean Sales P

Single

Mult

Vacant Re

Com

conomic Develo

vious Year 

Volume s)  $1

vious Year 

Price 

e Family  $1

i‐Family  $8

es. Land  $3

mmercial  $8

opment

2011 

1,357 

109% 

 

,158,049  $

77% 

 

 

,003,971  $

859,243 

350,346 

851,585  $

D

Re

2012 

1,726 

127% 

 

$1,513,490 

131% 

 

 

$1,042,750 

$775,323 

$388,551 

$1,079,502 

Data Source: Land

20

eal Estate 

2013 

1,766 

102% 

 

$1,402,637

93% 

 

 

$970,764 

$802,332 

$264,250 

$873,330 

d Title Guarantee

017 Economic

2014 

1,802 

102% 

 

$1,779,363

127% 

 

 

$1,236,694

$900,299

$324,936

$1,754,116

e Company

indicators

2015

2,061

114%

 

3  $1,989,13

112%

 

 

4  $1,194,55

$871,36

$341,85

6  $1,475,78

2016

2,048

99%

 

38  $1,957,

98%

 

 

52  $1,185,

66  $784,6

3  $273,3

84  $1,983,

16

6 

8 

% 

,962 

% 

,357 

625 

393 

,113 

 

  

 

 

Vail Valley Ec

Nu

Total 

conomic Develo

 

umber Sold 

2015 

2016 

Percent of Pr

Dollar Volum

2015 

2016 

Percent of Pr

opment

Rea

revious Year

me 

revious Year

al Estate – S

Gypsum 

 

177 

187 

106% 

 

 

$63,649,368

$66,806,318

105% 

 

Data Source: La

20

Select Loca

Eag

201

200

100%

  $102,26

  $106,35

104%

and Title Guaran

017 Economic

al Markets

le 

1 

0 

% 

68,102  $5

55,594  $7

% 

tee Company 

indicators

s 

Avon 

 

120 

156 

130% 

 

 

50,980,578 

77,310,461 

152% 

 

Vail Villag

 

68 

48 

71% 

 

 

$283,182,3

$162,726,7

57% 

 

17

ge 

348 

776 

 

Vail Valley Ec

232,2

0

50,000

100,000

150,000

200,000

250,000

200

conomic Develo

250

214,715

18

07 2008 2

opment

82,673

204,889

2009 2010

9194,140

168,

2011 201

Enpla

Data Source:

20

338 167,490

12 2013

nements

: Eagle County Ai

017 Economic

164,915158,405

2014 2015

irport 

indicators

5164,671

2016

Other

Air Canada

Republic Airwa

Continental

Delta

United/Exp

SkyWest/Mesa

American

18

 

ays

a

 

4

Vail Valley Ec

5,541

0

1000

2000

3000

4000

5000

6000

7000

2007‐08

conomic Develo

5,8216

8 2008‐09 20

opment

Eagle C

6,049 5,970

009‐10 2010‐1

Data 

County Sch

6,180

1 2011‐12 2

Source: Eagle Co

20

hools’ K‐12

6,223 6,34

2012‐13 2013‐

ounty Schools’ Oc

017 Economic

2 Enrollme

44 6,464

14 2014‐15

ctober Count

indicators

ents 

6,559 6,6

2015‐16 2016

Ov20

628

6‐17

High

Middle

Elementa

verall Growth007‐2016 is 20%

19

 

ary

%

 

Vail Valley Ec

Free(

20

30

40

50

60

2007

Percen

t

conomic Develo

Eagle /Reduced Less than 4% of

50

53

34

37

32

35

7‐08 2008‐09

Hisp

Free

No/L

opment

County ScLunch andf the School Pop

52

41

34

9 2009‐10

panic/Latino

e/Reduced Luch

Limited English 

D

hools’ Perd Studentspulation Indicate

50 5

46

33

2010‐11 201

Proficieny

Data Source: Eag

20

cent Hispas with No oes a Race/Ethni

50 50

43

46

33

30

11‐12 2012‐1

gle County Schoo

017 Economic

anic/Latinoor Limited city Other Than

51

43

28

3 2013‐14

ls October Count

indicators

o PopulatioLanguage n White or Hispa

52

41

28

2014‐15 20

t

on, Proficiencanic/Latino) 

52

41

27

015‐16 2016‐

20

cy  

 

52

41

27

17