T R EN D S R EPO RT
FALL 2015 | VOLUME 3
TARGET NEWCOMERS BEFORE SHOPPING LOYALTIES DEVELOP
Hear from a current sponsor... “The Champaign Park District strives to serve all members of the community through programming, events, and open spaces. It is especially important to reach out to new members of the Champaign area who may not know the vast offerings we provide! The Community Welcome Service helps us expand our reach and better serve C-U.” - Champaign Park District Become a sponsor of the Community Welcome Service program through the Champaign County Chamber of Commerce. Promote yourself to new Champaign County residents and receive essential demographic data that can be used for strategic and targeted marketing for your business. These residents receive gift boxes within a few weeks of arrival with information about the area, as well as coupons, free gifts and brochures provided by the program’s sponsors.
HOW DO I GET SIGNED UP? To take advantage of this program, contact Karly Combest at the Chamber, 217.359.1791 or KarlyC@champaigncounty.org.
Dear Chamber Members, We are pleased to provide your company with the third annual Trends Report. This publication is designed to provide our members with information and data that can be used in your daily business decision making. One of the biggest challenges facing all business owners and managers is making the right decisions to grow your companies; expand your products and/or improve your services. Using data, understanding trends, understanding the local marketplace and local demographics can be helpful to your company as you strategically plan for the future of your business. Please take time to review the information provided. Our goal is to provide our members with data on an ongoing basis to help your company. Please take time to reach out to us and let us know if we are we missing information that would be invaluable to your particular industry?
Table of Contents: Economy........................................4 Income & Poverty......................5 Workforce......................................6 Education......................................7 Population.................................8-9 Demographics..........................10 Economic Development......11 Real Estate..................................12 Quick Facts.................................13 Top Employers..........................13 Tourism.........................................14 Economic Gardening............15 Transportation..........................16 Agribusiness..............................17 Recognitions..............................18
We want to know what you need in order to help support those gut-made decisions – backed with data. Your feedback is encouraged to LauraW@champaigncounty. org. We hope you find the Trends Publication helpful to your company. Sincerely,
Laura Weis President & CEO
This publication was compiled by Megan Vasiliadis, intern to the Champaign County Chamber of Commerce.
ECONOMY Sources: Sperling’s Best Places (2013), City of Champaign (2013), Tax-Rates.org (2014), Bureau of Economic Analysis (2012)
gn’s larg pai
ce
$
ur
r
ev
Property Tax 2 percent Sales Tax State + County + City
est
Cham
CHAMPAIGN COUNTY TAXES
enue so
Urbana Champaign Rantoul Ogden Savoy Saint Joseph All other cities
6.25 6.25 6.25 6.25 6.25 6.25 6.25
1.25 1.25 1.25 1.25 1.25 1.25 1.25
1.50 1.50 1.25 1.00 0.50 0.50 -------
Total 9.00 9.00 8.75 8.50 8.00 8.00 7.50
COST OF LIVING: SURROUNDING COUNTIES 2014 *The United States is the index. It serves as a reference point.
United States: $1.00
Champaign: $0.91
McLean: $0.96
Peoria: $0.87
4
Vermilion: $0.83
*WHAT THIS MEANS: Based off one dollar ($1.00) of what an average American spends on goods and services, The Cost of Living Index tells how much that same dollar will get you in your area. Say a gallon of milk costs $4.00 on average in America, that same gallon of milk will cost $3.64 based off the Cost on Living Index in Champaign County.
DuPage: $1.18
Income & poverty Sources: US Census (2008-2012), Bureau of Labor Statistics (2013), US Department of Housing and Urban Development (2014)
QUICK FACTS *Income measured by annual mean wage
$25,713
Per Capita Income
$45,808
Median Household Income
INCOME BY OCCUPATION* OCCUPATION
2013
2014
Business & Finance
$62,990
$62,770
Education & Training
$77,590
$55,580
Architecture & Engineering
$77,290
$72,320
Healthcare Practitioners
$72,070
$61,970
Life, Physical, & Social Sciences
$69,580
$63,650
Computers & Mathematics
$77,290
$75,500
Construction & Extraction
$55,640
$56,180
Protective Services
$54,730
$54,730
Management
$92,030
$90,780
Arts, Entertainment, Sports, & Media
$48,050
$46,830
Installation, Maintenance & Repair
$41,640
$43,810
Community & Social Services
$38,330
$44,100
Office & Administrative Support
$35,690
$33,130
Production
$35,630
$34,920
Healthcare Support
$33,720
$29,430
Sales
$33,190
$33,400
Transportation
$32,110
$32,720
Building Cleaning & Maintenance
$28,400
$27,190
Personal Care & Services
$25,650
$25,240
5
Workforce Sources: US Census Bureau, OnTheMap Application and LEHD Origin-Destination Employment Statistics, US Chamber of Commerce
CHAMPAIGN COUNTY STATISTICS 2014
201 0
r Force
Labo
2014
in nd Live Work a aign p m a Ch
rs
mute e Com
Outsid
3
106,39
5 102,21 2006 9 tract 100,96 2000 - tatistical abs s **From
Outside Commuters:
2014 32,800 rtups Sta
158
32,800
54,489
2014
ities
portun
Job Op
87,367
WORKFORCE READINESS For every job that requires a master’s degree, there are
two professional jobs requiring a university degree, and seven jobs requiring a oneyear certificate or a
Nationally, in 2012 an estimated 3 million jobs went unfilled due to skills gap. By 2018 it is expected to be 7 million jobs.
An increase in skilled workers would reduce unemployment 2-3
percent.
two-year degree.
*WHAT THIS MEANS: Comparing these numbers to “Population” (pgs 8 and 9), there is a direct correlation between jobs and workforce readiness to population growth. A strong economy and skilled workforce lead directly to more population in Champaign County.
6
Education Sources: US Census Bureau 2014 & 2010; 2013-2014 Illinois At-A-Glance Report Card
GRADUATION RATES 92%
93%
2010
41%
86%
40%
2014
Vermilion
McLean
18%
15%
Ford
DeWitt
94%
93%
42%
42%
90% 23%
13%
Champaign
90%
87%
85%
92% 27%
14%
Percentage of high school graduates =
92%
87%
Piatt
17%
16%
Percentage of Bachelor’s degree or higher =
STUDENT DEMOGRAPHIC BY DISTRICT (2013-2014)
White Asian
NUMBER OF STUDENTS (2013-2014)
9,439
2+ Races
Champaign
Mahomet
Hispanic Black
4,077
Urbana School District 116
1,731
Tolono CUSD 7
1,386 St. Joseph School District 169
2,421 Rantoul School District 137
Mahomet-Seymour School District 3
Champaign Unit 4
2,980
Rantoul
St. Joseph
Tolono
Urbana
7
Source: US Census Bureau 2011-2014
POPULATION BY COUNTY 2014
2013
2012
2011
Champaign
207,133
204,897
203,276
202,405
DeWitt
16,284
16,420
16,463
16,528
Douglas
19,889
19,887
19,853
19,889
Ford
13,688
13,832
14,008
13,969
McLean
174,061
174,647
172,281
170,739
Piatt
16,431
16,433
16,504
16,681
POPULATION PERCENT CHANGE 2010 - 2014
+3%
-1.7%
Champaign DeWitt
- 0.5%
-2.8%
+2.6%
-1.8%
Douglas
Ford
McLean
Piatt
*WHAT THIS MEANS: While many communities in Central Illinois and statewide have seen population decreasing, more residents are moving to and staying in Champaign County. In fact, according the NerdWallet, Champaign County is the third fastest growing community in Illinois.
8
Population Source: University of Illinois at Urbana-Champaign Division of Management Information
CHAMPAIGN COUNTY STUDENTS AT UIUC 5000
5,000
4,014
4000
4,000
3,164
2,593
3000
3,000
2,775
2,567
2000
2,000
1000
1,000
0
2001
2001-2013
2004
2007
2010
2013
*WHAT THIS MEANS: Since the peak in 2004, students who are from Champaign County have been on a sharp decline at the University of Illinois over the past 10 years down to a near all time low.
UIUC TOTAL STUDENT POPULATION 50000
50,000
39,120
40,000 40000
41,497
40,239 40,964
39,786 38,454
30,000
30000
2005
2007
2009
2011
2013
2015
9
Demographics Source: US Census Bureau 2014
POLITICAL ASSOCIATION
27%
Democrat Republican
58% 15
%
Independent
RACE
13%
Hispanic Black
10% 7
White
%
70%
Asian
AGE
10% 6%
65
19%
Under 5 Under 18 18 - 65
%
Over 65
SEX
Women Men
50%
10
50%
2010 DEMOGRAPHICS Political association: Republican - 26.5% Democrat- 14% Independent - 59.5% Race: White - 75% Black - 12 % Hispanic - 4% Asian - 9 % Sex: Women - 50% Men - 50%
Economic development Source: The Site Selectors Guild 2015 Membership Survey
FOREIGN DIRECT INVESTMENT (FDI) LOCATION DRIVERS IN US: attributes that best indicate an area’s ability to provide and sustain a skilled and sufficient workforce attributes Ability to Develop Skills Locallythat best indicate an area’s ability to provide and sustain a skilled and sufficient workforce Quality of Local Community/Vo-Tech Presence of Other Companies with Similar Skill Sets Ability to Attract Talent from Outside the Local Market Living Conditions that attract and retain talent Diversity of Companies and Job Training Programs and Incentives
*Competitive strengths expected to drive domestic and FDI location investment to the US
Quality of Local Universities Salary and Wages Quality of Local Primary Education
0
10
20
30
40
50
60
0
10
20
30
40
50
60
Competitive stregnths expcted to drive domestic and FDI location investment to the US
ATTRACTIVE Competitive COMMUNITY WORKFORCE ATTRIBUTES: stregnths expcted to drive domestic and FDI location investment to the US Market Access/Logistics Availability of Skills/Technical Talent Energy Costs Total Operating Costs Low Business Risk IP and Legal Protection Quality Infrastructure Tax Climate Real Estate
*Attributes that best indicate an area’s ability to provide and sustain a skilled and sufficient workforce
Labor Costs State and Local Incentives Regulatory Environment Living Conditions Business Services and Amenities
0
10
20
30
40
50
60
70
80
0
10
20
30
40
50
60
70
80
11
Real Estate Sources: Champaign County Association of Realtors (2013-2014), Realty Trac (2013-2014)
CHAMPAIGN COUNTY HOUSING SALES
AVERAGE MEDIAN SALES PRICE
HOMES SOLD ON AVERAGE
*ILLINOIS FORECASTS
2013
2014
2015*
2,933
2,998
2,537 - 2,863
2013
2014
2015*
$130,000
$128,750
$127,000
*WHAT THIS MEANS: Champaign County’s housing market has been on a steady incline on par with the rest of the nation recovering from the 2008 housing bubble crash. While 2015 is projected to see slightly fewer houses sold, prices and listings are up 30 percent or nearly $40,000 per home sold.
CHAMPAIGN COUNTY FORECLOSURES 2014 - 2015 40
35 30 25 20 15 10 5
12
0
July ‘14
Sept. ‘14
Nov. ‘14
Jan ‘15
March ‘15
May ‘15
Champaign County Quick facts Sources: US Census Bureau 2014, The News-Gazette
16.5%
of people fall in the 20-24 age bracket
29.7
is the overall median age, the youngest in all 102 Illinois counties
66%
of people over the age of 85 are women
Top Chamber employers University of Illinois at Urbana-Champaign
19,844
Carle Foundation
4,500
Carle Physician Group
1,920
Unit 4 School District
1,280
Kraft Foods Inc.
1,203
Presence Covenant Medical Center
1,000
Champaign County
825
Christie Clinic
771
Urbana School District #116
675
Plastipak Packaging
650
13
Tourism Source: Visit Champaign County
Generates Payroll
Increases spending
Illinois travel & tourism saves the average household on taxes
Tourism supports local jobs and puts money into the pockets of residents
Visitors create millions in direct visitor spending
2014
$1,300 saved in taxes
2,570 jobs created
$323.5M in direct visitor spending
2013
$1,300 saved in taxes
2,520 jobs created
$306.6M in direct visitor spending
2012
$1,100 saved in taxes
2,500 jobs created
$298.5M in direct visitor spending
2011
$1,100 saved in taxes
2,460 jobs created
$283M in direct visitor spending
Saves taxes
In 2014, Champaign County’s Visitor industry brought
14
$5.3 million
In local tax revenue.
3343
3142
Economic gardening
1323
2,000
-536
0
-4312
-2,000 Sources: Edward Lowe Foundation, YourEconomy.org -4,000 TOTAL STARTUP ESTABLISHMENTS: WHAT IS ECONOMIC GARDENING? 2009 2010 2011 2012 2013
• Helps existing companies in the community grow larger • Offers those companies critical strategic information that is customized to their needs • It is about leveraging research using sophisticated business intelligence tools and databases that growth companies either aren’t aware of or cannot afford
in Champaign County
3593 1077
770
865
812
Net: 53 new 2010
2009
2013
2012
2011
STARTUPS JOB GROWTH: WHY IS IT IMPORTANT? Between 1995 and 2012, second-stage companies represented only
11.6 percent
of U.S. establishments, but generated nearly
34.5 percent of jobs
in Champaign County
0
according to YourEconomy.org.
BOTTOM LINE
-536 -536
3142 3142 -4312 -4312
1323 1323 Net: 1819 new
-2,000
-4000 -4,000
and about
34.5 percent of sales
3343 3343
3000 2,000
2009
20102010 2011
2009
2011
2012
2012
2013 2013
NEW STARTUPS TO JOBS CREATED: 2.53
1.69
2009
2.29
2010
3.80
2011
7.66
2012
Supporting these growth entrepreneurs means positive payoffs when it comes to economic growth and prosperity. Economic Gardening also provides a key balance between company attraction and small business support, and growing from within and supporting existing second-stage businesses.
2013
15
Transportation Sources: Willard Airport, CUMTD, bestplaces.net WALK - 8.74%
WORK AT HOME - 4.87%
COMMUTE TIME National Average: 25 minutes BIKE - 2.52% TIME
MIN
SEC
COMMUTE MODE
MASS TRANSIT - 6.1%
CAR POOL - 9.43%
AUTO (ALONE) - 68.34%
ANNUAL FLIGHTS out of Champaign-Urbana Willard Airport 2008
5,235
2010
2015
*WHAT THIS MEANS:
18 16
Transportation and infrastructure are vital to a robust economy. Locally, our transportation system has seen exponential growth, with mass transit ridership increasing every year the past five years and our commute time being well below the national average. In fact, according to Obrella.com, the City of Champaign is the 7th best commuter city in Illinois and Urbana is the 8th best commuter city in Illinois.
4,614
12000000
4,664 9000000
20C-U MTD RIDERSHIP 15000000 RIDES PER FISCAL YEAR
2012
6,813
15000000
13,551,784
13,309,332
12000000
9000000
12,028,172 11,107,631 10,134,194
FY10
10,549120
FY11
FY12
FY13
FY14
FY15
Agribusiness Sources: US Census of Agriculture; Illinois Society of Professional Farm Managers & Rural Appraisers
LAND VALUES SUMMARY BY CLASS 12000
$12,000
Excellent
10000 $10,000
Good
8000 $8,000
Average
$6,000 6000
Fair
$4,000
4000
2010
Farmland Classification
2011
2012
Total Value per Acre
2013
Change
2014
Avg. Rent Cost per Acre
from prior yr.
Change from prior yr.
Excellent
$10,400 - $12,800
5-10%
$360
10%
Good
$7,500 - $10,200
5-10%
$320
10%
Average
$6,500 - $8,200
5-10%
$275
FARMS
.F
2002: 1,285 2007: 1,389 2012: 1,312
ARM SIZE
*WHAT THIS MEANS:
in acres
2002: 449 2007: 396 2012: 470
ES
M A R K ET V in dollars
UE AL
T.
2002: 132,373
me t n
2012: 376,927
a
ch
ine
ip
of m
M A R K ET V in dollars
2007: 176,444
Agriculture is a thriving industry in Champaign County with land values on a steady incline while farm sizes are growing and yields are increasing. In fact, according to the USDA, corn and soybean yields in Illinois are the highest ever on record.
q ry an d e
u
UE AL
T.
ES
2002: 130,928
sold
gr of a
ic
2007: 224,235 2012: 323,295
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2014-2015 Recognitions 32nd: ranked as one of the best cities for Black entrepreneurs (ChampaignUrbana) GoodCall 15th: university degrees that are most likely to land you a job in Silicon Valley (University of Illinois at Urbana-Champaign) Business Insider 25th: 2015 Best Places in the U.S. for EMTs and Paramedics, out of 750 total cities assessed (Champaign-Urbana) GoodCall 6th: among top community colleges in Illinois for student success rates (Parkland College) Reboot Illinois
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