2014.03.11 EDA Agenda Packet - Laserfiche WebLink

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Ij{ Washington County's Economy A review of economic data for Washington County finds that the County's economy is healthy. • Washington County is a competitive, job creating economy. The county has experienced steady and strong growth in the number of jobs and weathered the recession well. Washington County had 80% employment growth from 1990-2012 adding 32,000 new jobs. The number of jobs in 2012 nearly rebounded to pre -recession levels of 74,000 total jobs. • Washington County competes very well within the region and the Twin Cities economy. Businesses in Washington County added 24,000 more jobs than would have been expected given national and industry trends. • Washington County is especially competitive and has significantly more jobs in comparison to neighboring counties in Wisconsin. Washington County's employment growth rate exceeded or was on par with neighboring counties in Wisconsin. Washington County maintains a competitive share of employment growth compared to St. Croix County, except for manufacturing where St. Croix County has a modest growth advantage. Washington County is a service -based economy. Washington County's top five largest sectors of employment are Trade (16%): Professional and Business Services (16%),- Education 16%);Education and Health Services (14%); Leisure and Hospitality (12%); and Government (13%). • Wages at jobs in Washington County are low, incomes primarily from jobs outside the County are high, and housing is expensive; these trends make affordable work force housing an issue for county leaders. r_V. Economic Development Working (horn To support the economic development planning process and to afford both public and private sector stakeholder input, the County Board formed a Working Group to guide the staff and consulting team. The Working Group has successfully established an identity and role in the process. One of the primary attributes of the Group was its ability to convene practitioners and other stakeholders to address questions and provide direction on important economic development topics. The County Board seeks to formalize the role of the Working Group in the strategic plan. The Working Group is made up of staff representatives from municipal governments, public agency partners such as the HRA and private sector members from sectors including real estate, small businesses and entrepreneurs. City officials represented a cross section of roles and responsibilities including: a Mayor, City Administrators, Planners, Community Development Directors and Assistant City Administrators. The County Board desires that the Working Group remain active and engaged and as part of the implementation the formal purpose and objectives will be determined. We can add more here if desired and we should talk about this at the Working Group meeting. Washington Counly Economic Dayelopment Strategic Plan 2014 Page 4