Northwest Annex Park ......................................................Page D

Socio / Economic Status

Employment and poverty data are good indicators of the overall amount of money that residents, and the city of Greenwood will be able to spend on recreational pursuits. Lower poverty and unemployment rates significantly reduce the amount of money required by cities for social support programs, thereby freeing up more budgetary resources for parks and recreation facilities and programs. Higher employment equals higher personal income and more cash flow available for recreational pursuits. Overall, the economic conditions in Greenwood are positive when compared to statewide averages. Greenwood’s unemployment rate of 4.4% is the same as the State of Indiana rate for the same time period. In addition, the average household income for Greenwood in 2019 was $70,005 and is expected to grow to $77,340 by the year 2024. The rate of 12.1% of its population below the poverty level is much lower than the statewide average for the same year, which was 15.0%. Studies show that a higher level of education often correlates to an overall higher level of recreational activity. Just over twenty percent (20.7%) of Greenwood’s population over age 25, earned a college bachelor’s degree, compared to sixteen percent (16.2%) of the state during the same time period. With this information Greenwood Parks should prepare programs and activities suited to the user the growing population groups of the community. The demand for recreational facilities will intensify because of the demographics of the growing population base. It is also recognized that a quality system of parks, green spaces and pathways/trails adds to the economic value and quality of life of the entire community.