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• <br />• <br />Overall, the strong historical expansion in occupied multi- tenant office and industrial space in the <br />Twin Cities suggests that Lino Lakes can likely absorb a variety of space types, assuming that the <br />economy continues to expand. The mix of building types on the site will depend on the particular <br />parts of the economy that are expanding at the time individual sites are being developed (e.g. if <br />growth in the healthcare sector is strong, medical office demand will be strong). <br />Employment Growth by Sector 2002 -2012 <br />Chart 5 -2 presents predictions from DEED about the growth of the Twin Cities economy by <br />industrial sector. The chart shows very strong expansion in several service sectors. In particular, <br />61 percent of all new jobs over 10 years will be education /health services, professional /business <br />services, or hospitality. Other important growth sectors include retail trade (9 percent of new <br />jobs), transportation /communications /utilities (8 percent), and finance /insurance /real estate (6 <br />percent). Although significant commercial /industrial development in Lino Lakes may be <br />temporarily restrained due to competition from potential redevelopment sites in closer in <br />communities, the long term demand for Lino Lakes should be positive over the life of the plan. <br />Chart 5 -2: Employment Growth by Sector <br />Wholesale Trade <br />8,204 <br />3% <br />Manufacturing <br />1,134 0% <br />Projected Employment <br />Growth by Sector <br />7- County Twin Cities Region <br />2002 -2012 <br />Const. <br />13,460 <br />5% <br />er Svcs <br />12,589 <br />5% <br />Education /Health <br />70,255 <br />26% <br />Fin. /Insur. /RE <br />14,587 <br />6% <br />Trans. /Comm. /Util. <br />19,403 <br />8% <br />Retail Trade <br />22,626 <br />9% <br />Hospitality <br />27,541 <br />11% <br />Prof. /Bus. Svcs. <br />61,424 <br />24% <br />Source: Minnesota Department of Economic Development <br />5 -5 <br />