Economy Overview. Summit County, CO. Emsi Q Data Set
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1 Summit County, CO Emsi Q Data Set
2 Contents. Economy Overview Historic &.. Projected Trends Popula on Characteris cs Industry Characteris cs Business Characteris cs Workforce Characteris cs Educa onal Pipeline Emsi Q Data Set
3 Economy Overview 31,071 23,562 $70.2K Popula on (2018) Jobs (2018) Median Household Income (2016) Popula on grew by 2,414 over the last 5 years and is projected to grow by 1,614 over the next 5 years. Jobs grew by 3,318 over the last 5 years and are projected to grow by 2,388 over the next 5 years. Median household income is $14.9K above the na onal median household income of $55.3K. As of 2018 the region's popula on increased by 8.4% since 2013, growing by 2,414. Popula on is expected to increase by 5.2% between 2018 and 2023, adding 1,614. From 2013 to 2018, jobs increased by 16.4% in Summit County, CO from 20,244 to 23,562. This change outpaced the na onal growth rate of 7.4% by 9.0%. As the number of jobs increased, the labor force par cipa on rate increased from 74.9% to 81.0% between 2013 and Concerning educa onal a ainment, 37.4% of Summit County, CO residents possess a Bachelor's Degree (18.8% above the na onal average), and 7.3% hold an Associate's Degree (0.7% below the na onal average). The top three industries in 2018 are Traveler Accommoda on, Restaurants and Other Ea ng Places, and Local Government, Excluding Educa on and Hospitals. Popula on (2018) Labor Force (2018) Jobs (2018) Cost of Living GRP Imports Exports Region 31,071 21,731 23, $1.98B $2.01B $2.18B State 5,688,190 3,126,240 2,986, $340.73B $236.94B $289.10B Emsi Q Data Set 1
4 Economy Overview - Cont Labor Force Breakdown Popula on A Total Working Age Popula on 26,844 A Not in Labor Force (15+) 5,113 31,071 Popula on A Labor Force 21,731 A Employed 21,280 A Unemployed 451 A Under 15 4,227 Educa onal A ainment Concerning educa onal a ainment, 37.4% of Summit County, CO residents possess a Bachelor's Degree (18.8% above the na onal average), and 7.3% hold an Associate's Degree (0.7% below the na onal average). % of Popula on Popula on A Less Than 9th Grade 3.1% 728 A 9th Grade to 12th Grade 3.6% 856 A High School Diploma 19.7% 4,686 A Some College 16.5% 3,919 A Associate's Degree 7.3% 1,732 A Bachelor's Degree 37.4% 8,909 A Graduate Degree and Higher 12.5% 2,976 Emsi Q Data Set 2
5 Historic & Projected Trends Popula on Trends Economy Overview As of 2018 the region's popula on increased by 8.4% since 2013, growing by 2,414. Popula on is expected to increase by 5.2% between 2018 and 2023, adding 1,614. Timeframe Popula on , , , , , , , , , , ,685 Emsi Q Data Set 3
6 Historic & Projected Trends - Cont. Job Trends Economy Overview From 2013 to 2018, jobs increased by 16.4% in Summit County, CO from 20,244 to 23,562. This change outpaced the na onal growth rate of 7.4% by 9.0%. Timeframe Jobs , , , , , , , , , , ,950 Emsi Q Data Set 4
7 Historic & Projected Trends - Cont. Labor Force Par cipa on Rate Trends Timeframe Labor Force Par cipa on Rate % % % % % January - April % May % June % July % Emsi Q Data Set 5
8 Historic & Projected Trends - Cont. Unemployment Rate Trends Summit County, CO had a July 2018 unemployment rate of 2.08%, decreasing from 5.08% 5 years before. Timeframe Unemployment Rate % % % % % January - April % May % June % July % Emsi Q Data Set 6
9 Popula on Characteris cs 7,944 8,279 5,341 Millennials Re ring Soon Racial Diversity Summit County, CO has 7,944 millennials (ages 20-34). The na onal average for an area this size is 6,335. Re rement risk is about average in Summit County, CO. The na onal average for an area this size is 8,720 people 55 or older, while there are 8,279 here. Racial diversity is low in Summit County, CO. The na onal average for an area this size is 12,012 racially diverse people, while there are 5,341 here. 1, /1, /1,000 Veterans Violent Crime Property Crime Summit County, CO has 1,193 veterans. The na onal average for an area this size is 1,832. Summit County, CO has 1.67 violent crimes per 1,000 people. The na onal rate is 3.75 per 1,000 people. Summit County, CO has property crimes per 1,000 people. The na onal rate is per 1,000 people. Emsi Q Data Set 7
10 Popula on Characteris cs - Cont. Place of Work vs Place of Residence Understanding where talent in Summit County, CO currently works compared to where talent lives can help you op mize site decisions. High Inbound Commuters High Outbound Commuters Where Talent Works Where Talent Lives ZIP Name 2018 Employment ZIP Name 2018 Workers Breckenridge, CO (in Su 7, Frisco, CO (in Summit c 6, Dillon, CO (in Summit c 4, Silverthorne, CO (in Sum 4, Silverthorne, CO (in Sum Breckenridge, CO (in Su 4, Dillon, CO (in Summit c 4, Silverthorne, CO (in Sum 2, Frisco, CO (in Summit c 1, Silverthorne, CO (in Sum 621 Emsi Q Data Set 8
11 Industry Characteris cs Largest Industries Industry Jobs Na onal Average Accommoda on and Food Services Retail Trade Government Arts, Entertainment, and Recrea on Construc on Health Care and Social Assistance Real Estate and Rental and Leasing Administra ve and Support and Waste Management and Remedia on Services Professional, Scien fic, and Technical Services Other Services (except Public Administra on) Transporta on and Warehousing Finance and Insurance Educa onal Services Wholesale Trade Manufacturing Informa on Mining, Quarrying, and Oil and Gas Extrac on U li es Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises 0 2,000 4,000 6,000 Emsi Q Data Set 9
12 Industry Characteris cs - Cont. Top Growing Industries Industry Jobs Growth Accommoda on and Food Services Retail Trade Construc on Arts, Entertainment, and Recrea on Health Care and Social Assistance d Support and Waste Management and Remedia on Services Government Real Estate and Rental and Leasing Other Services (except Public Administra on) Manufacturing Professional, Scien fic, and Technical Services Educa onal Services Informa on Transporta on and Warehousing Wholesale Trade Management of Companies and Enterprises Mining, Quarrying, and Oil and Gas Extrac on U li es Agriculture, Forestry, Fishing and Hun ng Emsi Q Data Set 10
13 Industry Characteris cs - Cont. Top Industry LQ Industry LQ Arts, Entertainment, and Recrea on Accommoda on and Food Services Real Estate and Rental and Leasing Retail Trade Construc on Mining, Quarrying, and Oil and Gas Extrac on Government U li es d Support and Waste Management and Remedia on Services Other Services (except Public Administra on) Professional, Scien fic, and Technical Services Health Care and Social Assistance Informa on Transporta on and Warehousing Educa onal Services Finance and Insurance Wholesale Trade Manufacturing Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises Emsi Q Data Set 11
14 Industry Characteris cs - Cont. Top Industry GRP 2017 Gross Regional Product Accommoda on and Food Services Real Estate and Rental and Leasing Retail Trade Government Construc on Health Care and Social Assistance Professional, Scien fic, and Technical Services Arts, Entertainment, and Recrea on Finance and Insurance d Support and Waste Management and Remedia on Services Wholesale Trade Manufacturing Informa on Other Services (except Public Administra on) Transporta on and Warehousing Mining, Quarrying, and Oil and Gas Extrac on U li es Educa onal Services Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises $0.000 $100.0M $200.0M $300.0M Emsi Q Data Set 12
15 Industry Characteris cs - Cont. Top Industry Earnings 2018 Earnings Per Worker U li es Management of Companies and Enterprises Wholesale Trade Finance and Insurance Professional, Scien fic, and Technical Services Mining, Quarrying, and Oil and Gas Extrac on Informa on Health Care and Social Assistance Construc on Real Estate and Rental and Leasing Manufacturing Government Transporta on and Warehousing Educa onal Services d Support and Waste Management and Remedia on Services Retail Trade Agriculture, Forestry, Fishing and Hun ng Accommoda on and Food Services Other Services (except Public Administra on) Arts, Entertainment, and Recrea on $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 Emsi Q Data Set 13
16 Industry Characteris cs - Cont. Industry 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2018 Earnings Per Worker 2017 GRP Accommoda on and Food Services 6,359 7, % 3.51 $33,842 $390.54M Retail Trade 2,671 3, % 1.27 $36,613 $191.71M Government 2,507 2, % 0.78 $55,076 $164.63M Arts, Entertainment, and Recrea on 1,395 1, % 4.16 $31,415 $70.84M Construc on 1,316 1, % 1.26 $56,561 $142.01M Health Care and Social Assistance 1,143 1, % 0.48 $62,961 $106.43M Real Estate and Rental and Leasing 1,089 1, % 3.37 $55,404 $235.62M Administra ve and Support and Waste Management and Remedia on Services Professional, Scien fic, and Technical Services Other Services (except Public Administra on) 798 1, % 0.72 $37,583 $58.52M % 0.62 $69,707 $101.02M % 0.68 $33,838 $36.44M Transporta on and Warehousing % 0.46 $50,401 $26.76M Finance and Insurance % 0.32 $91,511 $64.19M Educa onal Services % 0.44 $45,924 $14.10M Wholesale Trade % 0.24 $95,467 $55.78M Manufacturing % 0.11 $55,158 $55.46M Informa on % 0.46 $65,006 $45.56M Mining, Quarrying, and Oil and Gas Extrac on % 1.22 $68,670 $24.44M U li es % 0.73 $126,466 $20.17M Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises % 0.10 $36,555 $3.61M % 0.08 $114,451 $3.42M Emsi Q Data Set 14
17 Business Characteris cs 3,824 Companies Employ Your Workers Online profiles for your workers men on 3,824 companies as employers, with the top 10 appearing below. In the last 12 months, 1,129 companies in Summit County, CO posted job pos ngs, with the top 10 appearing below. Top Companies Profiles Top Companies Pos ng Unique Pos ngs Vail Resorts, Inc. 328 Breckenridge Grand Vaca ons, 77 Copper Mountain, Inc. 50 Centura Health Corpora on 41 Summit School District RE 1 32 Colorado Mountain College 31 Arapahoe Basin Ski Area 29 Town of Breckenridge 29 St. Anthony's Medical Center 26 Breckenridge Corpora on 24 Vail Resorts, Inc. 3,226 Centura Health Corpora on 446 Copper Mountain, Inc. 303 Breckenridge Grand Vaca ons, 247 Town of Breckenridge 130 Uber Technologies, Inc. 127 Lowe's Companies, Inc. 126 Target Corpora on 113 C.R. England, Inc. 109 Beaver Run Farms 102 Emsi Q Data Set 15
18 Business Characteris cs - Cont. Business Size Percentage Business Count A 1 to 4 employees 34.7% 876 A 5 to 9 employees 28.7% 726 A 10 to 19 employees 21.0% 530 A 20 to 49 employees 12.9% 325 A 50 to 99 employees 1.8% 45 A 100 to 249 employees 0.7% 18 A 250 to 499 employees 0.2% 6 A 500+ employees 0.1% 2 *Business Data by DatabaseUSA.com is third-party data provided by Emsi to its customers as a convenience, and Emsi does not endorse or warrant its accuracy or consistency with other published Emsi data. In most cases, the Business Count will not match total companies with profiles on the summary tab. Emsi Q Data Set 16
19 Workforce Characteris cs Largest Occupa ons Occupa on Jobs Na onal Average Food Prepara on and Serving Related Sales and Related Office and Administra ve Support Building and Grounds Cleaning and Maintenance Construc on and Extrac on Installa on, Maintenance, and Repair Management Personal Care and Service Transporta on and Material Moving Business and Financial Opera ons Educa on, Training, and Library Healthcare Prac oners and Technical Protec ve Service Arts, Design, Entertainment, Sports, and Media Produc on Healthcare Support Community and Social Service Computer and Mathema cal Architecture and Engineering Life, Physical, and Social Science Legal Farming, Fishing, and Forestry Military-only 0 1,000 2,000 3,000 Emsi Q Data Set 17
20 Workforce Characteris cs - Cont. Top Growing Occupa ons Occupa on Jobs Growth Food Prepara on and Serving Related Construc on and Extrac on Office and Administra ve Support Sales and Related Installa on, Maintenance, and Repair Building and Grounds Cleaning and Maintenance Personal Care and Service Transporta on and Material Moving Healthcare Prac oners and Technical Management Produc on Business and Financial Opera ons Educa on, Training, and Library Protec ve Service Arts, Design, Entertainment, Sports, and Media Healthcare Support Community and Social Service Computer and Mathema cal Architecture and Engineering Farming, Fishing, and Forestry Life, Physical, and Social Science Military-only Legal Emsi Q Data Set 18
21 Workforce Characteris cs - Cont. Top Occupa on LQ Occupa on LQ Building and Grounds Cleaning and Maintenance Food Prepara on and Serving Related Construc on and Extrac on Installa on, Maintenance, and Repair Sales and Related Arts, Design, Entertainment, Sports, and Media Protec ve Service Personal Care and Service Office and Administra ve Support Management Life, Physical, and Social Science Business and Financial Opera ons Educa on, Training, and Library Transporta on and Material Moving Healthcare Prac oners and Technical Community and Social Service Legal Architecture and Engineering Healthcare Support Produc on Farming, Fishing, and Forestry Computer and Mathema cal Military-only Emsi Q Data Set 19
22 Workforce Characteris cs - Cont. Top Occupa on Earnings 2017 Avg. Hourly Earnings Legal Management Healthcare Prac oners and Technical Computer and Mathema cal Architecture and Engineering Business and Financial Opera ons Life, Physical, and Social Science Community and Social Service Educa on, Training, and Library Protec ve Service Installa on, Maintenance, and Repair Construc on and Extrac on Produc on Arts, Design, Entertainment, Sports, and Media Transporta on and Material Moving Office and Administra ve Support Sales and Related Healthcare Support Farming, Fishing, and Forestry Military-only Building and Grounds Cleaning and Maintenance Personal Care and Service Food Prepara on and Serving Related $0.00 $10.00 $20.00 $30.00 $40.00 Emsi Q Data Set 20
23 Workforce Characteris cs - Cont. Top Posted Occupa ons Unique Average Monthly Pos ngs Sales and Related Office and Administra ve Support Food Prepara on and Serving Related Transporta on and Material Moving Building and Grounds Cleaning and Maintenance Healthcare Prac oners and Technical Personal Care and Service Installa on, Maintenance, and Repair Management Educa on, Training, and Library Arts, Design, Entertainment, Sports, and Media Business and Financial Opera ons Protec ve Service Healthcare Support Construc on and Extrac on Produc on Community and Social Service Computer and Mathema cal Life, Physical, and Social Science Architecture and Engineering Legal Farming, Fishing, and Forestry Emsi Q Data Set 21
24 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec Nov 2018 Unique Average Monthly Pos ngs Food Prepara on and Serving Related 3,468 3, % 1.98 $ Sales and Related 2,922 3, % 1.38 $ Office and Administra ve Support Building and Grounds Cleaning and Maintenance Construc on and Extrac on Installa on, Maintenance, and Repair 2,617 2, % 0.85 $ ,989 2, % 2.54 $ ,352 1, % 1.59 $ ,050 1, % 1.40 $ Management 874 1, % 0.78 $ Personal Care and Service Transporta on and Material Moving Business and Financial Opera ons Educa on, Training, and Library Healthcare Prac oners and Technical % 0.96 $ % 0.61 $ % 0.71 $ % 0.64 $ % 0.59 $ Protec ve Service % 0.99 $ Arts, Design, Entertainment, Sports, and Media % 1.20 $ Produc on % 0.36 $ Healthcare Support % 0.45 $ Emsi Q Data Set 22
25 Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec Nov 2018 Unique Average Monthly Pos ngs Community and Social Service Computer and Mathema cal Architecture and Engineering Life, Physical, and Social Science % 0.56 $ % 0.32 $ % 0.50 $ % 0.72 $ Legal % 0.53 $ Farming, Fishing, and Forestry % 0.35 $ Military-only % 0.29 $ Emsi Q Data Set 23
26 Educa onal Pipeline Over the last 5 years, no schools in Summit County, CO produced graduates. Emsi Q Data Set 24
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