Village of CovingtonVillage of Covington

I.I. General Demographic OverviewGeneral Demographic Overview

II.II. Data Related to Specific StrategiesData Related to Specific Strategies

A. Agricultural Business A. Agricultural Business DevelopmentDevelopment

B. TourismB. Tourism

C. Retirement CommunityC. Retirement Community

D. Business Retention & Expansion D. Business Retention & Expansion & & AttractionAttraction

Social CharacteristicsSocial Characteristics

Covington PopulationCovington Population

► Population in Population in Covington has grown Covington has grown very slightly over the very slightly over the past six years, past six years, gaining12 residents gaining12 residents since the 2000 US since the 2000 US Census, from 2559 Census, from 2559 to 2571to 2571

► This represents This represents a .5% increase in a .5% increase in populationpopulation

0

500

1000

1500

2000

2500

3000

2000 2001 2002 2003 2004 2005 2006

Population

Covington Median AgeCovington Median Age

Age of PopulationAge of Population

Covington’s 65+ pop. is Covington’s 65+ pop. is 17.7%, compared to 17.7%, compared to 13.3% for Ohio and 13.3% for Ohio and 12.4% for the U.S.12.4% for the U.S.

Covington’s average age Covington’s average age is 36.85 compared to is 36.85 compared to 36.85 for Ohio and 36.85 for Ohio and 36.22 for U.S.36.22 for U.S.

According to 2000 U.S. According to 2000 U.S. Census, there were Census, there were 1014 residents over 45 1014 residents over 45 yearsyears

0

5

10

15

20

25

30

35

15orless

25-44

65+

Cov.

Ohio

U.S.

HousingHousing

Total # Housing Units: 1,075Total # Housing Units: 1,075Density: 933 per sq. mileDensity: 933 per sq. mile

Vehicles available Vehicles available None: 6%None: 6%One: 37%One: 37% Two: 39%Two: 39%

Three or more: 18%Three or more: 18%

► Renter Occupied Housing:Renter Occupied Housing:~239 units; 22.2% (U.S. is 30%)~239 units; 22.2% (U.S. is 30%)~Average # rooms; 4.97 (U.S. is 4.04)~Average # rooms; 4.97 (U.S. is 4.04)~Rent as a % of HH revenue; 21% ~Rent as a % of HH revenue; 21%

(Ohio is 24% and U.S. is 26%)(Ohio is 24% and U.S. is 26%)

HousingHousing

►Owner Occupied Housing:Owner Occupied Housing:

~772 Units - 71.8% of housing; (Ohio ~772 Units - 71.8% of housing; (Ohio is 64.2% and U.S. is 60.2%) 65% have is 64.2% and U.S. is 60.2%) 65% have a mortgagea mortgage

~Median year structure was built – ~Median year structure was built – 1942 (Ohio is 1962 and U.S. is 1971)1942 (Ohio is 1962 and U.S. is 1971)

~New housing developments?~New housing developments?

HousingHousing

►Estimated median house/condo value Estimated median house/condo value in 2005; $113,400in 2005; $113,400

~in 2000 it was $93,500~in 2000 it was $93,500►Home Sales; dropped to just over 5 in Home Sales; dropped to just over 5 in

the 4the 4thth qtr. Of 2007 qtr. Of 2007

~Peak was 3~Peak was 3rdrd qtr. Of 2005 with qtr. Of 2005 with 35 35 homes soldhomes sold

Economic CharacteristicsEconomic Characteristics

EconomyEconomy

► Median HH income in 2005:Median HH income in 2005:Covington; $42,900Covington; $42,900Ohio; $43,493Ohio; $43,493

► For population 25 yrs. & over:For population 25 yrs. & over:Unemployment rate: 3.7%Unemployment rate: 3.7%Mean travel time to work: 20.2 min.Mean travel time to work: 20.2 min.HS or higher: 81.8%HS or higher: 81.8%BA or higher: 9.8%BA or higher: 9.8%Grad. or Prof. degree: 3.2%Grad. or Prof. degree: 3.2%

Business Service InventoryBusiness Service Inventory

Available in Covington List includes:Available in Covington List includes:Antique Shops, Auto Repair/Service, Dental, EatingAntique Shops, Auto Repair/Service, Dental, Eating

Places/restaurants/refreshments, Electricians, Feed Store, Florist,Places/restaurants/refreshments, Electricians, Feed Store, Florist,

Furniture, Gas Station, General Merchandise, Greenhouse, InsuranceFurniture, Gas Station, General Merchandise, Greenhouse, Insurance

Agency, Laundromat, Legal Services, Mortician, Plumbers, Agency, Laundromat, Legal Services, Mortician, Plumbers,

Tavern, Used CarsTavern, Used Cars

Unavailable in Covington List includes:Unavailable in Covington List includes:Auto Import, Bakery, Bicycle Shop, Blade & Knife Sharpening,Auto Import, Bakery, Bicycle Shop, Blade & Knife Sharpening,

Bookstore, Dry Cleaners, Freezer/Locker, Grocery, Hardware,Bookstore, Dry Cleaners, Freezer/Locker, Grocery, Hardware,

Household Appliances, Jewelry Store, Liquor Store, Motel, Pharmacy,Household Appliances, Jewelry Store, Liquor Store, Motel, Pharmacy,

Music Store, Sewing, Shoe, Sporting Goods, Small Appliance Repair,Music Store, Sewing, Shoe, Sporting Goods, Small Appliance Repair,

Toys & games, Wallpaper and paint, bowling alleyToys & games, Wallpaper and paint, bowling alley

Business Service InventoryBusiness Service Inventory

Some confusion about available in Covington:Some confusion about available in Covington:Accounting 6-3Accounting 6-3 Apparel 6-3Apparel 6-3 Auto dealer 5-4Auto dealer 5-4

Farm Implement 4-2Farm Implement 4-2 Floor Covering 5-2Floor Covering 5-2 Guns & Ammo 4-4Guns & Ammo 4-4

Medical 7-2Medical 7-2 Real Estate 5-3Real Estate 5-3 Welding 2-4Welding 2-4

Strategy SupportStrategy Support

Which Businesses in Covington Support:Which Businesses in Covington Support:► TourismTourism► AgribusinessAgribusiness► RetirementRetirement► BR&EBR&E

Which Businesses not in Covington could support:Which Businesses not in Covington could support:► TourismTourism► AgribusinessAgribusiness► RetirementRetirement► BR&EBR&E

Data/Information Related to Data/Information Related to StrategiesStrategies

Retirement StrategyRetirement Strategy

Changing Nature of Changing Nature of RetirementRetirement

►Number of relocating retirees willNumber of relocating retirees will

increase from 10% to 20%increase from 10% to 20%►Traditional retirement destinations willTraditional retirement destinations will

not be as popularnot be as popular CrowdedCrowded ExpensiveExpensive

Changing Nature of Changing Nature of RetirementRetirement

Retirees Want:Retirees Want:► Rural small town feel (relative)Rural small town feel (relative)

Main Street organizationsMain Street organizations

Friendly environs (socioeconomics)Friendly environs (socioeconomics)► AmenitiesAmenities

Unique mix make community successfulUnique mix make community successful

No one place is for everyoneNo one place is for everyone

It’s about attracting It’s about attracting zoomers zoomers in their in their encore encore years!years!

Retirement Community Needs Retirement Community Needs AssessmentAssessment

► Housing Costs & TypesHousing Costs & Types► Retail ServicesRetail Services

(basic and specialty)(basic and specialty)

► Medical Facilities, Providers and ServicesMedical Facilities, Providers and Services(especially those serving older populations)(especially those serving older populations)

► Ease of Getting AroundEase of Getting Around(public transportation, proximity of housing to (public transportation, proximity of housing to

shopping, shopping, walkability)walkability)

► Recreation/AmentitiesRecreation/Amentities(recreation, entertainment, lifelong learning)(recreation, entertainment, lifelong learning)

Retirement Strategy: How it Retirement Strategy: How it Links to Tourism StrategyLinks to Tourism Strategy

Retirees and tourists are like-minded target Retirees and tourists are like-minded target marketsmarketsAmenities are very important for bothAmenities are very important for both

Retirees and tourists bring similar benefits to Retirees and tourists bring similar benefits to communitycommunityInvestment of outside dollarsInvestment of outside dollars

Less demand for local servicesLess demand for local services

Successful retirement strategies can be linked Successful retirement strategies can be linked to tourism promotion effortsto tourism promotion efforts

Tourism & Retiree RelocationTourism & Retiree Relocation

The LinksThe Links► Retirees & tourists are like minded target Retirees & tourists are like minded target

audiencesaudiences► Retirees are tourists first – then afterRetirees are tourists first – then after

relocating become permanent touristsrelocating become permanent tourists► Relocating retirees typically make 3 toRelocating retirees typically make 3 to

5 visits (lasting up to 2 weeks each)5 visits (lasting up to 2 weeks each)► Only an estimated 1 in 10 relocationOnly an estimated 1 in 10 relocation

oriented tourists will relocateoriented tourists will relocate

Tourism Development Tourism Development StrategyStrategy

Visitors to Area Attractions in Visitors to Area Attractions in 20072007

►Stillwater Prairie ReserveStillwater Prairie Reserve

75,006 Visitors/yr.75,006 Visitors/yr.

►Greenville Falls State Scenic River AreaGreenville Falls State Scenic River Area

12,000 Visitors/yr.12,000 Visitors/yr.

Greenville Falls has been expanded, Greenville Falls has been expanded, and visitorship should increaseand visitorship should increase

Types of VisitorsTypes of Visitors

►Stillwater Prairie ReserveStillwater Prairie Reserve~Regular visitors~Regular visitors~Primarily from “local” area~Primarily from “local” area~Walking path is major attraction (2.2 ~Walking path is major attraction (2.2 mi. Loop)mi. Loop)

►Greenville Falls State Scenic River Greenville Falls State Scenic River AreaArea~Day trippers; weekends~Day trippers; weekends~Fishing and canoeing ~Fishing and canoeing

Bike TrailBike Trail

►Mainly focusing on North - South legsMainly focusing on North - South legs►When focus shifts to East – West legs, When focus shifts to East – West legs,

Covington to Fletcher will be Covington to Fletcher will be completed firstcompleted first

►Eventually this leg will go westward Eventually this leg will go westward from Covington to Bradfordfrom Covington to Bradford

StrategiesStrategies

► What kinds of businesses/events/services What kinds of businesses/events/services could be developed that would attract visitors could be developed that would attract visitors from:from:

Stillwater?Stillwater?

Greenville?Greenville?► Is there anyplace for Greenville Park visitors Is there anyplace for Greenville Park visitors

to stay overnight? (Bed & Breakfasts?)to stay overnight? (Bed & Breakfasts?)► When bikepath is completed, what kinds of When bikepath is completed, what kinds of

businesses/events/services could be businesses/events/services could be developed that would attract visiting bikers?developed that would attract visiting bikers?

Business Retention & ExpansionBusiness Retention & Expansion

Covington Employment 2002Covington Employment 2002

IndustryIndustry► Construction:Construction: 5% 5%► Manufacturing:Manufacturing: 31% 31%► Retail:Retail: 13% 13%► Education, HealthEducation, Health

& Social Services:& Social Services: 16% 16%► Arts, entertainmentArts, entertainment

Food services:Food services: 5% 5%► Professional:Professional: 5% 5%

------------------------------------------------------------------------------------------------------------------------------------------------------------------

Class of WorkerClass of Worker► Private wage & salary:Private wage & salary: 85% 85%► Government: 10%Government: 10%► Self-employed: 4%Self-employed: 4%

Source: OSU Extension Data CenterSource: OSU Extension Data Center

Five County Region Economic Cluster 2006: Five County Region Economic Cluster 2006: Champaign, Clark, Darke, Miami, Montgomery, Champaign, Clark, Darke, Miami, Montgomery,

ShelbyShelby

ClusterCluster Employment/Employment/EstablishmentEstablishment

ss

Education & Knowledge CreationEducation & Knowledge Creation 33,307/58233,307/582

Business & Financial Services Cluster Business & Financial Services Cluster 26,261/2,96026,261/2,960

Biomedical/Biotechnical (Life Sciences)Biomedical/Biotechnical (Life Sciences) 22,979/56422,979/564

Transportation Equipment MfgTransportation Equipment Mfg 22,368/10422,368/104

Advanced MaterialsAdvanced Materials 21,213/87021,213/870

Energy (Fossil & Renewable)Energy (Fossil & Renewable) 14,550/1,33214,550/1,332

Miami County ClustersMiami County Clusters

ClusterCluster Employment/Employment/EstablishmentsEstablishments

Education & Knowledge CreationEducation & Knowledge Creation 3,641/683,641/68

Machinery Mfg Machinery Mfg 2,019/422,019/42

Transportation Equipment ManufacturingTransportation Equipment Manufacturing 1,950/141,950/14

Advanced MaterialsAdvanced Materials 1,578/1521,578/152

Biomedical/Biotechnical (Life Sciences)Biomedical/Biotechnical (Life Sciences) 1,427/391,427/39

Covington IndustriesCovington Industries

Which local industries are included in each of Which local industries are included in each of the Miami County Clusters?the Miami County Clusters?

► Education & Knowledge CreationEducation & Knowledge Creation► Machinery Mfg Machinery Mfg ► Transportation Equipment ManufacturingTransportation Equipment Manufacturing► Advanced MaterialsAdvanced Materials ► Biomedical/Biotechnical (Life Sciences)Biomedical/Biotechnical (Life Sciences)

Covington Community CapacityCovington Community Capacity

Agriculture DevelopmentAgriculture Development