economic futures workshop rice county october 14, 2009 brigid tuck, david nelson and bruce schwartau...
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Economic Futures Workshop
Rice County
October 14, 2009Brigid Tuck, David Nelson and Bruce Schwartau
University of Minnesota Extension
©2009 Regents of the University of Minnesota. All rights reserved.
Rice County Economy
Population: 61,955
Employment: 31,294
Households: 22,003
Industries: 179 out of a possible 440
Note: This data is based on IMPLAN (Minnesota IMPLAN Group, Inc) data.
©2009 Regents of the University of Minnesota. All rights reserved.
Rice County Economy
Total Output by Major Industry Category 2007
Manufacturing47%
Construction8%
Government6%
All Other30%
Real Estate/Rental
5%
Educational Services
4%
Total Output: $4.4 billion
©2009 Regents of the University of Minnesota. All rights reserved.
Rice County Economy
Total Employment by Major Industry Category 2007 Manufacturing
15%
Government14%
Retail Trade11%
All Other42%
Health and Social Services
10%
Educational Services
8%
Total Employment:31,295
©2009 Regents of the University of Minnesota. All rights reserved.
Rice County Economy
Total Labor Income by Major Industry Category 2007
Manufacturing24%
Government18%
Educational Services
9%
All Other33%
Construction9%
Retail Trade7%
Total Labor Income:$1,142 million©2009 Regents of the University of Minnesota. All
rights reserved.
Rice County Economy
Top 10 Industries (Output)
Breakfast Cereal Manufacturing
Air Conditioning – Refrigeration – and Warm Air Heating Equipment Manufacturing
Fruit and Vegetable Canning – Pickling – and Drying
Wholesale Trade Businesses
Imputed Rental Activity for Owner-Occupied Dwellings
Private Junior Colleges – Colleges – Universities and Professional Schools
Poultry Processing
State and Local Government – Non-Education
Construction – New Residential
State and Local Government – Education
Top Ten Total
All Industries Total
2007 Total Output
$ 537,883,000
$ 352,876,000
$ 271,630,000
$ 176,879,000
$ 169,331,000
$ 166,521,000
$ 132,849,000
$ 109,161,000
$ 99,700,000
$ 95,260,000
$ 2,112,090,000
$ 4,385,940,000
% of Total Output
12.3%
8.0%
6.2%
4.0%
3.9%
3.8%
3.0%
2.5%
2.3%
2.2%
48.2%
100.0%
©2009 Regents of the University of Minnesota. All rights reserved.
Rice County Economy
Top 10 Industries (Employment)
Private Junior Colleges – Colleges – Universities and Professional Schools
State and Local Government – Non-Education
State and Local Government – Education
Food Services and Drinking Places
Nursing and Residential Care Facilities
Wholesale Trade Businesses
Construction – New Non-residential, Commercial
Offices of Physicians, Dentists, and Other Health Practitioners
Breakfast Cereal Manufacturing
Civic – Social – Professional and Other Similar Organizations
Top Ten Total
All Industries Total
2007 Employment
2,026
1,952
1,782
1,778
1,293
1,124
821
755
713
711
12,955
31,294
% of Employment
6.5%
6.2%
5.7%
5.7%
4.1%
3.6%
2.6%
2.4%
2.3%
2.3%
41.4%
100.0%©2009 Regents of the University of Minnesota. All
rights reserved.
Grain Agriculture
Output: $6,700,000
Labor Income: $1,000,000
Grain agriculture payments are typically not directly to labor. Output value can vary
widely by year.
Economic Impact of 100 Jobs
7 15
100 122
0
20
40
60
80
100
120
140
Direct Indirect Induced Total
Job
s
Balance Retail Trade Real Estate Ag/Forestry/Fish
Industry Employment
100 574
0 200 400 600 800
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Glass Manufacturing
Output: $24,900,000
Labor Income: $6,900,000
Glass manufacturing is highly capital-intensive.
Economic Impact of 100 Jobs
39 45 100
184
0
50
100
150
200
250
Direct Indirect Induced Total
Job
s
Balance Wholesale Trade Retail Trade Manufacturing
Industry Employment
100 283
0 200 400 600
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Wind Component Manufacturing
Output: $24,239,534
Labor Income: $5,604,074
Wind Components are not currently manufactured in Rice County
Economic Impact of 100 Jobs
22 26
100148
020406080
100120140160180
Direct Indirect Induced Total
Job
s
Balance Retail Trade Wholesale Trade Lodging/Food
Industry Employment
100
0 50 100 150
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Agricultural Support Activities
Output: $4,184,105
Labor Income: $3,260,905
Agricultural support activities are primarily service-based, therefore, high labor income
and induced impacts.
Economic Impact of 100 Jobs
14 1
100 115
0
20
40
60
80
100
120
140
Direct Indirect Induced Total
Job
s
Balance Retail Trade Health and Social Svcs Lodging/Food
Industry Employment
100 69
0 50 100 150 200
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Circuitry Manufacturing
Output: $26,954,174
Labor Income: $8,276,241
Agricultural.
Economic Impact of 100 Jobs
32 34 100
166
0
50
100
150
200
250
Direct Indirect Induced Total
Job
s
Balance Retail Trade Wholesale Trade Manufacturing
Industry Employment
100 116
0 100 200 300
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Computer Data Warehousing
Output: $26,763,586
Labor Income: $8,355,922
Although Computer Data Warehousing has a similar overall impact as Circuitry
Manufacturing, the distribution of the impacts is very different.
Economic Impact of 100 Jobs
32 35 100
167
0
50
100
150
200
250
Direct Indirect Induced Total
Job
s
Balance Lodging and Food Services Retail Trade Health and Social Services
Industry Employment
16 100
0 50 100 150
Current Employment New Jobs
©2009 Regents of the University of Minnesota. All rights reserved.
Computer Software Development
Output: $32,512,596
Labor Income: $8,729,385
Although
Economic Impact of 100 Jobs
34 49 100
183
0
50
100
150
200
250
Direct Indirect Induced Total
Job
s
Balance Lodging & Food Svcs Administrative & Waste Svcs Retail Trade
Industry Employment
25 100
0 50 100 150
Current Employment New Jobs
©2009 Regents of the University of Minnesota. All rights reserved.
Construction of New Nonresidential Commercial Structures
Output: $14,545,111
Labor Income: $5,003,012
Although
Economic Impact of 100 Jobs
20 14
100134
0
2040
60
80
100120
140
160
Direct Indirect Induced Total
Job
s
Balance Retail Trade Lodging and Food Services Health and Social Services
Industry Employment
100 821
0 500 1000
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Fabricated Metal Manufacturing
Output: $18,634,540
Labor Income: $6,832,160
Although
Economic Impact of 100 Jobs
145 100
19 26020406080
100120140160180
Direct Indirect Induced Total
Job
s
Balance Retail Trade Lodging and Food Services Health and Social Services
Industry Employment
72 100
0 50 100 150 200
Current Employment New Jobs
©2009 Regents of the University of Minnesota. All rights reserved.
Breakfast Cereal Manufacturing
Output: $89,283,188
Labor Income: $12,435,945
Why does this have such a big multiplier?
High output and income per worker
Established industry – economies of scale
Local purchases? Transport/Ware and Wholesale – built infrastructure
Economic Impact of 100 Jobs
224 100 76 48
0
50
100
150
200
250
300
Direct Indirect Induced Total
Job
s
Balance Wholesale Trade Retail Trade Transportation & Warehousing
Industry Employment
100 713
0 500 1000
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Nursing and Residential Care Facilities
Output: $3,962,087
Labor Income: $1,631,205
Nursing and Residential Care Facilities are one of the largest industry employers in Rice
County.
Economic Impact of 100 Jobs
110 100
4 60
20
40
60
80
100
120
140
Direct Indirect Induced Total
Job
s
Balance Lodging and Food Services Retail Trade Health and Social Services
Industry Employment
100 1293
0 500 1000 1500
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Medical/Diagnostic Labs & Outpatient Care
Output: $15,737,037
Labor Income: $5,545,644
Nursing
Economic Impact of 100 Jobs
136 100 14 21
020406080
100120140160180
Direct Indirect Induced Total
Job
s
Balance Retail Trade Lodging and Food Services Health and Social Services
Industry Employment
37 100
0 50 100 150
Current Employment 100 Jobs
©2009 Regents of the University of Minnesota. All rights reserved.
Retail Trade – General Merchandise
Output: $6,303,455
Labor Income: $2,585,036
General Merchandise .
Economic Impact of 100 Jobs
116 100
6 100
20
40
60
80
100
120
140
Direct Indirect Induced Total
Job
s
Balance Retail Trade Lodging and Food Services Health and Social Services
Industry Employment
100 480
0 200 400 600 800
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Surgical/Medical Instrument Manufact.
Output: $33,918,320
Labor Income: $8,854,655
This industry does not currently exist in Rice County.
Economic Impact of 100 Jobs
116 100 6 34
0
50
100
150
200
250
Direct Indirect Induced Total
Job
s
Balance Retail Trade Manufacturing Lodging and Food Services
Industry Employment
100 0
0 50 100 150
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Truck Transportation
Output: $16,930,612
Labor Income: $5,813,720
Truck
Economic Impact of 100 Jobs
149 100
26 230
50
100
150
200
Direct Indirect Induced Total
Job
s
Balance Transport and Warehouse Retail Trade Health/Social Services
Industry Employment
100 417
0 200 400 600
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Veterinary Pharmaceutical Manuf.
Output: $60,424,348
Labor Income: $12,303,001
This industry
Economic Impact of 100 Jobs
230 100 81 49
0
50
100
150
200
250
300
350
Direct Indirect Induced Total
Job
s
Balance Wholesale Trade Manufacturing Retail Trade
Industry Employment
100 0
0 50 100 150
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.
Wholesale Trade
Output: $20,758,899
Labor Income: $7,621,070
This industry
Economic Impact of 100 Jobs
151 100
21 300
20406080
100120140160180
Direct Indirect Induced Total
Job
s
Balance Retail Trade Lodging and Food Services Health and Social Services
Industry Employment
100 1,124
0 500 1000 1500
New Jobs Current Employment
©2009 Regents of the University of Minnesota. All rights reserved.