decatur, tx: economic prospectus

Decatur, TX: Economic Prospectus

Decatur EDCBusiness Appreciation DinnerDecatur Civic CenterFebruary 19, 2013

February 19, 2013 | Decatur EDC Business Appreciation Dinner

• Decatur is a growing community offering a competitive environment for investment

• Location advantages (DFW, I-35, West Texas) for manufacturing, wholesale, energy

• Health care driving diversification of local economy away from basic services

• Promising opportunities for linking economic and workforce development

Economic Prospectus

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Talking PointsSource: Texas Comptroller

• Resilient economy: Tax base recovered nearly all pre-recession value by end of 2011

• Competitive business environment: 2011 was second best year on record for total sales at local businesses ($895 million)

• Primary industry growth: manufacturing sales up 78% during 2002-2011

Note: All data adjusted for inflation (2011 dollars). Texas Comptroller has not released 2012 data yet.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Population GrowthSource: U.S. Census Bureau, Total Population Growth, 2000-2010

U.S.

Decatur

Texas

Wise County

0% 5% 10% 15% 20% 25%

10%

16%

21%

21%

Current Estimate: 6,114 (2011)

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Total Industry SalesSource: Texas Comptroller, % Change in Inflation-Adjusted Gross Sales (2011 Dollars), 2002-2011

Fort Worth-Arlington

Texas

Decatur

0% 10% 20% 30% 40% 50% 60% 70%

33%

58%

60%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

2003 2004 2005 2006 2007 2008 2009 2010 2011-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

Total Industry SalesSource: Texas Comptroller, % Annual Change in Inflation-Adjusted Gross Sales (2011 Dollars)

Decatur

Fort Worth-Arlington

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Taxable SalesSource: Texas Comptroller, % Change in Inflation-Adjusted Gross Sales (2011 Dollars), 2002-2011

Fort Worth-Arlington

Texas

Decatur

0% 5% 10% 15% 20% 25% 30%

14%

19%

28%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

2003 2004 2005 2006 2007 2008 2009 2010 2011-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

Taxable SalesSource: Texas Comptroller, % Annual Change in Inflation-Adjusted Taxable Sales (2011 Dollars)

Decatur

Fort Worth-Arlington

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Total Industry SalesSource: Texas Comptroller, Inflation-Adjusted Growth in Gross Sales (2011 Dollars)

Decatur2011

Decatur 2002-11

FW-Arlin2002-11

Retail trade $332,265,734 9% 21%Wholesale trade $138,761,378 22% 18%Manufacturing $59,610,260 78% 86%Information $12,640,759 -34% -42%Construction $5,167,333 -27% 49%Prof, sci, tech svcs $4,785,637 12% 0%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Taxable Property ValueSource: Texas Comptroller, % Annual Growth, Inflation-Adjusted (2011 Dollars)

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011-4%

-2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

5.0%

7.3%6.0%

2.7%

13.8%

7.0%8.4%

0.4%1.6%

-2.6%

Taxable property in Decatur totaled approximately $582 million in 2011, up 61% from 2001.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Business EstablishmentsSource: U.S. Census Bureau, % Change, 2004-2010

U.S.

DFW

Texas

Decatur (76234)

0% 2% 4% 6% 8% 10% 12% 14% 16% 18%

0%

5%

6%

16%

Note: Zip code used due to lack of reliable business and employment data for city limits.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

2004 2005 2006 2007 2008 2009 2010-4%

-2%

0%

2%

4%

6%

8%

10%

12%

Business EstablishmentsSource: U.S. Census Bureau, Annual % Change

Decatur (76234)

Dallas-Fort Worth-Arlington

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Small BusinessesSource: U.S. Census Bureau, % Total Business Establishments by Employee Size Range, Decatur (76234), 2010

1-4 5-9 10-19 20-49 50-99 100-249 250-499 500-999 1000+0%

10%

20%

30%

40%

50%

60%

53.2%

19.4%

12.6%10.6%

2.8%0.9% 0.4% 0.2% 0.0%

Small businesses with fewer than 100 employees created 80% of all net new jobs at locally-owned businesses in Wise County between 1995 and 2009.

Decatur (76234) had seven businesses with 100+ employees in 2010: retail trade (3), energy (1), manufacturing (1), transportation & warehousing (1), and health care & social assistance (1).

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Total EmploymentSource: U.S. Census Bureau, % Change, 2004-2010

DFW

Texas

Decatur (76234)

-5% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

-3%

2%

8%

38%

U.S.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

2004 2005 2006 2007 2008 2009 2010-10%

-5%

0%

5%

10%

15%

20%

25%

Total EmploymentSource: U.S. Census Bureau, Annual % Change

Decatur (76234)

Dallas-Fort Worth-Arlington

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Diversifying EconomySource: U.S. Census Bureau, % Total Business Establishments, Decatur (76234)

1998 2010Retail trade 19% 13%Health care and social assistance 10% 17%Accommodation and food services 10% 10%Construction 8% 10%Finance and insurance 8% 6%Professional, scientific, technical services 6% 7%Transportation and warehousing 5% 3%Manufacturing 4% 3%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Health Care SpecializationSource: U.S. Census Bureau, % Total Business Establishments, 2010

Decatur(76234)

DFW MSA

Health care and social assistance 17% 11%Retail trade 13% 13%Construction 10% 7%Professional, scientific, tech services 7% 13%Mining, quarrying, oil & gas extraction 4% 1%Manufacturing 3% 4%Transportation and warehousing 3% 3%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

“Eds and Meds” Workforce Source: U.S. Census Bureau, % Civilian Employed Population Age 16+ in Decatur, 2011

DFW

Texas

U.S.

Decatur

0% 5% 10% 15% 20% 25% 30% 35% 40%

18%

21%

23%

34%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

• Increasingly about partnerships and regional collaboration—”breaking down silos”

• Flexible and responsive delivery systems for meeting workforce needs of employers are highly competitive assets

• Successful regions have strong leaders that balance short-term and long-term goals

Economic Development

http://www.nortech.org/news-room/press-releases/northeast-ohio-winner-of-white-house-jobs-and-innovation-accelerator-challenge

economic development organizationintermediary/connector/coordinator

entrepreneurshippartner

education/workforce partner

industrypartner

Northeast Ohio Speed To Market Accelerator‐ ‐ will employ a step by step ‐ ‐process to help accelerate the commercialization of products, increase

the global competitiveness of cluster companies, attract additional private capital to the region, and attract students, incumbent workers,

and the unemployed to educational and training programs.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Postsecondary EducationSource: U.S. Census Bureau, % Population Age 25+ With Postsecondary Degree (Associate-Ph.D.), 2011

Decatur

Texas

U.S.

DFW

0% 5% 10% 15% 20% 25% 30% 35% 40%

28%

32%

36%

38%

February 19, 2013 | Decatur EDC Business Appreciation Dinner

http://www.areadevelopment.com/AnnualReports/Winter2012/26th-Corporate-Consultants-RE-survey-results-287677888.shtml

“Whether from renewed optimism in the economy, or a realization that talent cannot be ignored long-term, decision-makers have again elevated human capital above many cost factors.”

February 19, 2013 | Decatur EDC Business Appreciation Dinner

• 37% (7.5M) of all new jobs in U.S. expected by 2020 will require postsecondary degree

• 16 out of top 25 fastest growing occupations in U.S. will require postsecondary degree

• 91 out of top 100 highest paying occupations in U.S. require postsecondary degree

Postsecondary EducationSource: U.S. Bureau of Labor Statistics

Note: Postsecondary here means everything from training certificate to Ph.D.

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Postsecondary EducationSource: U.S. Bureau of Labor Statistics, Median Wage for U.S. Occupations by Education Required, 2010

Less than high school

High school diploma or equivalent

Postsecondary non-degree award

Master's degree

Associate's degree

Bachelor's degree

Doctoral or professional degree

$0 $20,000 $40,000 $60,000 $80,000 $100,000

$20,070

$34,180

$34,220

$60,240

$61,590

$63,430

$87,500

http://www.prosperity2020.com

http://www.austinchamber.com/education-talent/education-initiatives/

http://www.reditn.com/redi-college-access

http://www.tuscaloosanews.com/article/20120914/NEWS/120919880/1291/

http://www.louisianaeconomicdevelopment.com/incentives--programs/led-faststart.aspx

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Workforce PartnershipsSource: infoUSA, Fabricated Metal Product Manufacturing in Decatur

Typical Entry-Level Education Needed

Typical On-The-Job Training Needed

Machinists High School 12+ Months

Welders High School 1-12 MonthsStructural Metal Fabricators/Fitters High School 1-12 MonthsComputer-Controlled Machine Tool Operators High School 1-12 MonthsCutting, Punching, and Press Machine Setters High School 1-12 MonthsLathe and Turning Machine Tool Setters High School 1-12 Months

February 19, 2013 | Decatur EDC Business Appreciation Dinner

• Third-party analysis of readily available data shows Decatur economy on solid footing

• Invest in education/workforce partnerships with prospects and existing businesses

• Communicate realities of labor market to students—and invite them to participate

Summary

February 19, 2013 | Decatur EDC Business Appreciation Dinner

Texas: Staring Down the Skills GapSource: EMSI, Estimated % Workforce in Texas by Age Group, 2012

February 19, 2013 | Decatur EDC Business Appreciation Dinner

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Brian KelseyCivic Analytics LLCbrian@civicanalytics.com 512-731-7851