The South Florida RegionAccording to REMI

REMI Southeast Policy Analysisand Users’ Conference

January 29th, 2004

Fort Lauderdale, Florida

Economic Indicators

•Employment

•Trade Balance

•Production Cost

•Personal Income per Capita

•Personal Income

•Migration

Industry Employment

• Manufacturing• Construction• Transportation and Public Utility• Finance, Insurance and Real Estate• Retail Trade• Wholesale Trade• Services• Agricultural Services, Forestry and Fisheries• Government• Farm

Manufacturing Employment % Total

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

Miami Dade Indian River Palm Beach Broward Martin St. Lucie Monroe

Construction Employment % Total

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

Martin St. Lucie Indian River Monroe Broward Palm Beach Miami Dade

Transportation and Public Utilities Employment % Total

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

Miami Dade Broward St. Lucie Monroe Martin Palm Beach Indian River

FIRE Employment % Total

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%

11.0%

12.0%

Martin Palm Beach Broward Indian River Miami Dade Monroe St. Lucie

Retail Employment % Total

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

24.0%

26.0%

Monroe Indian River Martin Broward St. Lucie Palm Beach Miami Dade

Wholesale Employment % Total

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

Miami Dade Broward Palm Beach St. Lucie Martin Indian River Monroe

Service Employment % Total

25.0%

27.0%

29.0%

31.0%

33.0%

35.0%

37.0%

39.0%

41.0%

43.0%

45.0%

Palm Beach Broward Miami Dade Martin Monroe Indian River St. Lucie

Agriculturial Services Employment % Total

1.0%

3.0%

5.0%

7.0%

9.0%

11.0%

13.0%

15.0%

St. Lucie Indian River Martin Monroe Palm Beach Broward Miami Dade

Government Employment % Total

5.0%

7.0%

9.0%

11.0%

13.0%

15.0%

17.0%

19.0%

21.0%

23.0%

Monroe St. Lucie Miami Dade Broward Palm Beach Indian River Martin

Farm Employment % Total

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

Indian River St. Lucie Martin Palm Beach Miami Dade Broward Monroe

Internal and External Trade

• Imports

• Exports to World

• Exports to U. S.

• Exports to Region

Imports

15.00%

25.00%

35.00%

45.00%

55.00%

65.00%

75.00%

85.00%

95.00%

Indian River Martin St. Lucie Monroe Palm Bch. Broward Miami Dade

Exports to World

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

Miami Dade Palm Bch. Indian River Martin Broward St. Lucie Monroe

Exports to U.S.

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

22.00%

24.00%

26.00%

28.00%

30.00%

Monroe Indian River Martin St. Lucie Miami Dade Palm Bch. Broward

Exports to Region

7.00%

9.00%

11.00%

13.00%

15.00%

17.00%

19.00%

21.00%

23.00%

25.00%19

9019

9119

9219

9319

9419

9519

9619

9719

9819

9920

0020

0120

0220

0320

0420

0520

0620

0720

0820

0920

1020

1120

1220

1320

1420

1520

1620

1720

1820

1920

20

St. Lucie Martin Indian River Broward Miami Dade Monroe Palm Bch.

Relative Cost of Production

Relative Cost of Production

80

90

100

110

120

130

140

150

160

Monroe Indian River Martin St. Lucie Palm Beach Broward Miami Dade

Real Disposable Personal IncomePer Capita

Real Disposable Personal Income Per Capita (Thousands)

10.0

15.0

20.0

25.0

30.0

35.0

40.0

45.0

Palm Beach Martin Indian River Broward Monroe Miami Dade St Lucie

Personal Income

• Labor and Proprietors Income

• Dividends, Interest and Rental Income

• Transfer Payments

• Net Residential Adjusted Income

Personal Income - Palm Beach County

0

20

40

60

80

100

120

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - Martin County

-2

0

2

4

6

8

10

12

14

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - St. Lucie

0

20

40

60

80

100

120

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - Indian River

-0.1

0.9

1.9

2.9

3.9

4.9

5.9

6.9

7.9

8.9

9.9

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - Monroe

0

1

2

3

4

5

6

7

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - Miami Dade

-20

0

20

40

60

80

100

120

140

160

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Personal Income - Broward

0

20

40

60

80

100

120

Net Res Adj Lab & Prop Inc Trans Pymnts Div&Int&Rent

Regional Migration

• Economic Migration

• International Migration

• Retired Migration

Palm Beach Migration (Thousands)

-5

0

5

10

15

20

25

Econ Migrants Int'l Migrants Ret Migrants (65+)

Martin Migration (Thousands)

0

0.5

1

1.5

2

2.5

3

3.5

Econ Migrants Int'l Migrants Ret Migrants (65+)

St. Lucie Migration (Thousands)

0

1

2

3

4

5

6

Econ Migrants Int'l Migrants Ret Migrants (65+)

Indian River Migration (Thousands)

0

0.5

1

1.5

2

2.5

3

3.5

Econ Migrants (Thous) Int'l Migrants Ret Migrants (65+)

Monroe Migration (Thousands)

-2.5

-2

-1.5

-1

-0.5

0

0.5

1

Econ Migrants (Thous) Int'l Migrants (Thous) Ret Migrants (65+) (Thous)

Miami Dade Migration (Thousands)

-80

-60

-40

-20

0

20

40

60

80

Econ Migrants (Thous) Int'l Migrants (Thous) Ret Migrants (65+) (Thous)

Broward Migration (Thousands)

-10

-5

0

5

10

15

20

25

30

35

40

Econ Migrants (Thous) Int'l Migrants (Thous) Ret Migrants (65+) (Thous)

Mike O’ConnellEconomist

South Florida Regional Planning Council3440 Hollywood Blvd.

Suite 140Hollywood, Florida 33021

Ph. (954) 985-4416moconnell@sfrpc.com