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5Lino Lakes Economic Development Strategic Plan <br />EDUCATION <br />The City also has a well-educated workforce, <br />with more than 77% of the workforce having <br />some college experience. This includes 48% <br />with a bachelors or higher degree. Technical <br />Colleges or 2 year degrees are included in the <br />some college number of residents at 29%. This <br />high level of education compared to the states <br />overall education level of 32% with some college <br />and 37% with a bachelors degree or higher. <br />INCOME <br />This higher level of education also provides the additional support of the higher median income for the City. Lino Lakes <br />currently has a median household income of $115,519 compared to Minnesota’s median household income of $69,559. <br />The City is also significantly above the MSA which is at $83,904. In addition to the higher household income, the City <br />also has a significantly higher per capita income for the community. In 2021, Lino Lakes has a per capita income of <br />$43,617 compared to the states per capita income of $36,727 and the MSA’s of $42,459. The lower separation of the <br />per capita income level reflects the younger age in the community, resulting in families with children still living with <br />their parents. <br />This higher median income also has the advantage of the City having a wealth index of 190 compared to the MSA’s <br />index of 127 indicating that the city has significantly above average wealth (an index of 100 would indicate average <br />wealth). The wealth index is based upon the entire wealth of a household including material possessions and <br />resources. <br />MEDIAN AGE <br />In addition to the continuing growth of the population of the community, the median age also affects many aspects <br />of the economic wellbeing of the City. Lino Lakes currently has a median age of 38 years old compared to the states <br />median age of 39 years and is in-line with the Minneapolis/St. Paul MSA’s of 37.9 years. The younger median age of the <br />population provides the future opportunity for continued growth of the median income as these residents reach their <br />maximum earning years. The lower median age also provides the potential opportunity for future workforce growth as <br />they graduate and become members of the workforce. This opportunity also allows for the development of long-term <br />relationships with the community and businesses as they continue to age.