2014.04.08 EDA Agenda Packet - Laserfiche WebLink

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data: Washington County -- Economic Overview (September 2013) and Washington County's Economy and Selecting Industries for Further Analysis (November 2013). Copies of both presentations are on file in the County's Office of Administration. Five of the most essential findings that might have an immediate policy implication are identified in Section Ill. Community Engagement The County Board directed that a broad reaching community engagement process be undertaken, including: 1) Interviews and listening sessions with elected officials and other key stakeholders within the community of interest; 2) Gather input from every city; 3) Presentations/discussions to organized- groups such as Economic Development Authorities, Chambers, Business Development Commission's; and 4) Facilitated sessions with key stakeholders within a community of interest to identify issues and create the strategic plan. A summary of the stakeholder input is included in the Appendix. The data presented by the Minnesota Extension Office offered a clear picture of the Washington County economic conditions. A summary 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 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. 3