Sonoma County Indicators Economy, Environment, Health, Society, Tourism, Workforce A B R IDGED EDITION

Transcription

1 County Indicators Economy, Environment, Health, Society, Tourism, Workforce 2014 A B R IDGED EDITION

2 Table of Contents 1. Executive Summary 2. Trends 4. How Competitive is County? Economy 6. Unemployment Median Home Prices Median Household Income Poverty 7. Industry Employment Job Growth Business Establishment Growth Business Establishments per 10,000 Residents Environment 8. Air Quality Waste Disposal Water Use Open Space Acreage Health 9. Uninsured Causes of Death Types of Health Insurance Coverage Youth Alcohol Use Society 10. Age Distribution by Ethnicity High School Exit Exam Scores Crime Rates Educational Attainment Workforce 11. Industry Employment Ages 55+ Population Growth & Demographic Change Industry Growth, Concentration, and Wages Tourism 12. Hotel Occupancy Rates Tourism-Related Taxes Visitor Spending 13. Methodology & Sources

3 Executive Summary The County Economic Development Board (EDB) is pleased to present the 2014 County Indicators Abridged Edition. The indicators chosen for this year s report focus on the connections between our economy and community, measuring our progress, and benchmarking our performance to similar counties in. In an effort to provide the most current and comprehensive annual data in this year s report, the scope of this preliminary version has been narrowed. The full unabridged report will be made available online at in the spring of The report features a competitiveness index section intended to measure regional competitiveness not only by economic elements but through the region s quality of life and how the region supports innovation. The Quality of Place Index and Innovative Environment Index were created to measure these types of competitiveness. Some highlights and challenges in this report include: County is a competitive place to do business both because of an attractive business climate and the high quality of life shown thorough the high scores on the Innovative Environment Index and the Quality of Place Index. The seasonally unadjusted unemployment rate for County was 6.0% in November 2013, a four-year low and below the state wide average. Job growth in County was 2.1% from November 2012 to November County had the third-highest number of business establishments per capita among comparable counties. This is indicative of a high level of economic activity and a healthy business environment. Tourism indicators are overwhelmingly positive. Revenue from the transient occupancy tax (TOT) started increasing in the first quarter of 2010, and and saw one of the best first quarters in recorded history in This is the first time that TOT revenues have surpassed pre-recession levels, and have increased by 17% over a year. At the same time, hotel occupancy rates have increased 6.8%. The EDB encourages readers to delve further into these issues by contacting the agencies and organizations listed throughout this report, and by visiting the EDB s website,. This annual assessment of our region s economic progress is meant to help guide discussions by local business, government, community and workforce leaders regarding strategies for shaping our region s economic future. The Economic Development Board is committed to working with our partners to take the actions necessary to build on our strengths and to address our deficiencies to improve economic opportunities and quality of life for all County residents. Pamela Chanter Chair Economic Development Board Ben Stone Executive Director Economic Development Board Board of Directors Pamela Chanter, Chair Joe Orlando, Vice Chair Libby Harvey FitzGerald Michael Nicholls Linda Kachiu Melanie Bagby Michael Tomasini Marcos Suarez John Webley 1

4 Trends What is a trend? Trends state changes in data over time. They are a simple way to identify changes in community indicators, based on one, five or ten-year periods of observation. In this section there are trend summaries for County, offering a snapshot of information and measurements of recent economic and community performance. Performances are categorized as positive, concerning, or unclear trends. The purpose of trends is to identify those areas where County is succeeding, and just as importantly, those where it faces challenges. Economy Positive Trends Unemployment Rate County has seen a steady decrease in its unemployment rate over the past three years, with the most recent rate showing signs of reaching pre-recession levels. From November 2012 to November 2013 alone, County experienced 1.7 percentage points decline in its unemployment rate. (See page 6) Environment Waste Disposal After a slight increase in 2010, County showed a significant decline in the volume of waste produced by residents in the following years. In 2012, the County average waste per person decreased by 0.3 pound, whereas the average waste per person decreased by 0.1 pound. (Pg. 8) Air Quality County saw a 4% increase in air quality in the northern air basin from 2011 to Compared to other similar counties, County ranks forth behind, and counties. (Pg. 8) Society College Educational Attainment The percentage of County residents over the age of 25 with a bachelor s degree has decreased slightly by 0.4% while the percentage of residents holding advanced degrees has increased by 0.2%. County is still the third-most highly educated county among comparable counties, with an above state average population holding at least a bachelor s degree. (Pg. 10) Greater Youth Diversity There is more ethnic diversity among the youth in County. This indicates that County has a rapidly growing young Hispanic population and an aging white population, suggesting a higher ethnic diversity in the workforce and society. (Pg. 10) Tourism Hotel Occupancy Rates County hotel occupancy rates have increased 6.8% year-to-date. This suggests that visitors are returning to County. The county also outperformed other comparable counties by a large margin, suggesting increased attractiveness of County and effective tourism promotion events. (Pg. 12) Transient Occupancy Tax TOT revenues started increasing in the first quarter of 2010, and saw one of the best first quarters in recorded history in This is the first time that TOT revenues have surpassed pre-recession levels and increased by 17% over a year. (Pg. 12) 2

5 Trends Concerning Trends Workforce Employment of Workers 55+ Every industry, except educational services, showed an increase in total employees aged 55+ in Educational services, however, proportionally remains the largest employed industry of workers aged 55+ with over 32 percent of the total employment pool. Real estate, utilities, and health care service industries also showed a large share of employees aged 55+ ranging from 25 to 27 percent, while food services, mining, construction, and retail trade industries showed the lowest from 11 to 17 percent. (Pg. 11) Environment Water Use County has had a strong history of water conservation. Since 2008, there had been a declining trend in water use per capita per day in the county. However, From 2011 to 2012, County s water use increased by 6 gallons per capita per day, a 5.3% increase within a year. (Pg. 8) Economy Business Growth County as well as other comparable counties and the state had negative business establishment growths from 2011 to County s business establishment growth fell from 2.7 percent in 2011 to -5.9% in However, County still has the third-highest number of business establishments per capita among comparable counties. (Pg. 7) Health Insurance Rates The proportion of individuals not covered by health insurance in County increased 0.7 percentage points from 2011 to 2012, equating to 3,556 fewer covered individuals, and moving the county below the national average. County, however, performed better than the state of with 2.9 percent of fewer individuals without health insurance. This is subject to change as a result of the Affordable Care Act. (Pg. 9) Society Education Achievement Gap While County performs well compared to other counties and the state average, there is a noticeable educational achievement gap in English language proficiency and high school graduation rates among different ethnic groups within the county. (Pg. 10) Unclear Trends Economy Percent Below the Poverty Line The percentage of County residents living below the national poverty line fell only 0.1 percentage point from 2011 to 2012 and this remains higher than Due to the higher cost of living in County, an adjusted poverty rate may be higher. (Pg. 6) Median Home Prices The median sales price of an existing home in County is at a five-year high, and the recovery of median home prices in County has been volatile. Home prices still remain attractive relative to the pre-recession highs, and this bodes well for new home buyers. (Pg. 6) Health Cause of Death Compared to the national average, County had a slightly lower rate of coronary heart disease and a higher rate of cancer in Conversely, deaths in County by coronary heart disease reached the national rate in 2010 accounting for 23% of all deaths. Total deaths by cancer, however, decreased by about 1 percentage point over the same year. (Pg. 9) 3

6 How Competitive is County? Regional competitiveness is the ability of a region to produce goods and services that are successful in the global market. When measuring competitiveness, it is not only important to take into account economic elements, but also ways the region supports continuing innovation and productivity and maintains a high standard of living. We have done this by establishing a competitiveness index which measures innovation and quality of place. There are many indicators that can be used in these indexes, the ones selected were chosen because they effectively measure an innovative environment and a high quality of life. Quality of Place Index An area s quality of life is becoming more and more important in an increasingly competitive global economy as a way to attract and retain top talent. This is because highly educated workers have more flexibility in where they choose to live as their special knowledge and skills are in high demand. As such, an area s lifestyle attributes are crucial to its long-term economic success. Overall: We examine six measures indicative of quality of place in order to establish how competitive County is relative to comparable counties. County s above-average ranking is primarily due to good air quality, lower crime rate and better access to health care. SSThese individual measures are summarized below. Quality of Place Indicators aa nnlluui issoo bbisispp Air Quality: A weighted average of days with air quality measured as good or moderate by the Environmental Protection Agency. County ranked fourth behind County with a score of 121. Crime Rate: The crime rate measures the number of both violent and property crimes committed per 100,000 people. County had the secondlowest crime rank among comparable counties with a score of 157, indicating that crime rates in County were 57% below the state average. Commute Time: The commute time measures the average time spent commuting by county residents. County ranked 6th among comparable counties with a score of 107. However, the average commute time was 7% below the average commute time. Access to Health Care: The number of health care practitioners and technical occupations (NAICS 62) provides a measure of access to health care professionals. County ranked third among comparable counties for access to health care with a score of 109. Culture and Recreation: Employment in the arts, entertainment and recreation (NAICS 71) per capita provides a measure of an area s cultural and recreational opportunities. County ranked fourth among comparable counties for culture and recreation with a score of 98. Per Capita Income: Earnings per person, provides a measure of standard of living and economic vitality. County ranked fourth among comparable counties with an income per capita index of Average Average Air Quality 107 San Luis Obispo 4 95 Quality of Place Index County County County (Avg.) County Index 115 County (Avg.) 116 Indicators for Quality of Place Index County Lower Crime Rate Commute Time Index = 100 Access to Health Care Culture and Recreation Comparable Counties' Average Index 138 Per Capita Income Source All: Environmental Protection Agency ( Federal Bureau of Investigation ( U.S. Census Bureau ( Bureau of Labor Statistics ( U.S.

7 Innovative Environment Index How Competitive is County? What is an index? This section examines different indicators of regional economic competitiveness. Each indicator is divided by the value for and multiplied by 100. An adjusted value of 120 means the region is performing 20% above the state average, and an adjusted value of 90 means the region is performing 10% below the state average. Each indicator is weighted equally in the overall index. For more information, see Index methodology on page 13. An environment of innovation encourages the launch of new businesses, provides growth opportunities for existing businesses, and attracts businesses from outside the area. It is important because a strong innovative environment leads to business growth in the region. This index examines six measures indicative of an innovative environment in order to establish how competitive County is relative to comparable counties. Overall: County s above the state average ranking is primarily because of the relatively low cost of labor, high percent of the population with high school and college degrees, and the dense concentration of small to mid-size businesses. Innovative Environment Index Indicators Labor Cost: Labor cost is an important factor in the cost of doing business and is measured by total earnings per employee at the 3-digit NAICS level. County ranked seventh among comparable counties with a score of However, the labor cost was 2.84% below the average labor cost. Employment in Technical Professions: This indicator represents the percentage of employment in computer, science and engineering professions (NAICS 54), which provides a measure of the research and development industry. County ranked fourth relative to comparable counties with a score of SSaannLLuui issoob bisispp Average Innovative Environment Index County 2014 County Average County County (Avg.) (Avg.) San Luis Obispo Concentration of Small to Mid-size Businesses: This indicator represents the number of businesses in an area, presented per 1,000 employees. A growing number of small to mid-size businesses over time correlates to a strong environment for new business creation. For this indicator, small to mid-size businesses are classified as having 250 employees or less. County ranked fourth among comparable counties with a score of 135. Business Churn: The business churn metric is the ratio of business births and deaths to the total number of business establishments. This measure of entrepreneurship captures the cycle of the birth of profitable business, and the closing of struggling business. County ranked fourth with a score of Indicators for Innovative Environment Index County County Index Index = 100 Comparable Counties' Average Index High School Graduates: This indicator represents the percentage of adult population (25+) with a high school diploma or higher. The better educated the regional workforce, the more quickly an economy can take advantage of new opportunities and recover from negative shocks. County ranked third with a score of 106. College Graduates: Educated residents with bachelor s degree and higher have specialized skills and knowledge that fuel the performance of existing firms and serve to attract new employers. County ranked fourth with a score of Labor Cost 5 Employment in Technical Professions Concentration of Small to Mid-Size Businesses Business Churn High School Graduates College Graduates Source All: Moody s Analytics, Bureau of Labor Statistics, Employment Development Department, U.S. Census Bureau, Postsecondary Education Commission.

8 Economy Economy indicators include employment levels, median home prices, income and poverty measures. In addition to representing the type and level of economic activity in the county; economic indicators illustrate strengths, challenges, and changes within County relative to comparable counties. Unemployment Rate The unemployment rate measures the percentage of individuals who are not working but are able, available, and actively seeking work, relative to the entire workforce. The seasonally unadjusted unemployment rate in November 2013 was 6.0% for County which is lower than the state average (8.3%), and one of the lowest among comparable counties. Percentage Unemployment Rate Seasonally Unadjusted, November % Median Home Prices Median sales prices reflect the selling price of a middle-priced single family home in County. In August 2013, the median sales price of an existing home was approximately $450,000. While home prices have decreased significantly from their peak in 2006, prices appear to be rising. The overall trend of declining median housing prices has dramatically improved housing affordability, however, average rents are up by double digits and vacancy rates are at an all-time low. Median Household Income Median household income measures the level of each county s middle earning households. From 2011 to 2012, the median household income in County fell 1.8% from $61,020 to $59,941. County s median household income places higher than the United States as well as. Poverty Poverty level is the minimum level of income deemed necessary to have an adequate standard of living in a given region. The 2013 national poverty level for a family of four is $23,550. The population of County living below the poverty line decreased 0.1 percentage points from 2011 to Just over 12% of County residents live below the poverty line, more than 4 points lower than the state and nation. 20% Percent Below Poverty Line, 2011 & Thousands of dollars 4 $100 $800 $700 $600 $500 $400 $300 San Luis Obispo U.S. National Source: Employment Development Department ( Median Sales Price of an Existing Home* County, August 2013 $200 '03 $90 '04 '05 '06 '07 '08 '09 '10 County '11 '12 '13 Note: *Single Family Detached Homes Source: Association of Realtors ( Median Household Income, 2011 & % 10% 5% Thousands of dollars $80 $70 $60 $50 $40 0% San Luis Obispo U.S. National Source: U.S. Census Bureau, American Community Survey, ( $30 U.S. National San Luis Obispo Source: U.S. Census Bureau, American Community Survey, ( 6

9 Industry Employment Two of the hardest hit industries of the recession were manufacturing and construction, reflecting limited capital expenditure and the entire global slowdown. Over the past year, following steady gains in exports and durable orders, manufacturing and construction were two of the fastest-growing industries. Over the period of , County experienced employment growth in the industries of total farm, educational and health services, leisure and hospitality, and professional and business services. Job Growth County, along with all comparable counties, had positive job growth from November 2012 to November Nonfarm Payroll Employment, which represents the number of jobs in an area, increased by 2.1% for County, higher than both and the United States, helping to close the gap between the countywide and national unemployment rate. Over the next years, the county will continue to build momentum through its specialty goods, tourism, and technology industries Employment in Selected Industries County, * Economy '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 August '13 Government & Public Education Retail Trade Educational & Health Services Manufacturing Professional & Business Services Leisure and Hospitality Construction Farm *2013 data is preliminary and updated through August 2013 Business Establishment Growth Business establishment growth is often considered an indicator of the overall business climate, as it captures both the creation and closure of firms from 2011 to High firm establishment growth is also often correlated with innovation, as startup companies frequently bring new products to market. Contrary to the rebounding economy, business establishment growth decreased in all comparable counties. Businesses Establishments per 10,000 Residents The number of business establishments per 10,000 residents is a measure of economic activity that counts the number of locations where business is conducted on a population-adjusted basis. Business establishments per capita is also an indicator to account for economies of agglomeration, the idea that businesses mutually benefit when located near each other. County ranked third among comparable counties in business establishments per 10,000 residents. 12 Month Percentage Change 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% Job Growth November November 2013 United States 500 Business Establishments Business Establishment Growth per 10,000 Residents, Q Q Q % San Luis Obispo San Luis Obispo Source All: Employment Development Department ( Percentage Change San Luis Obispo -5.9% 7

10 Environment Environmental indicators provide data on energy use, water conservation, and waste production. These indicators gauge relative environmental performance for County. Air Quality County has two separate air basins. The northern part of the county, which includes all of the coast, the Russian River, and areas north of Windsor (including Healdsburg and Cloverdale), meets all federal and state standards for air quality and is among the cleanest in. The southern portion of the county includes all of the other incorporated cities and Hwy 12 corridor. In 2013, air quality in Northern County was classified as good on 307 days, with no days considered unhealthy even for sensitive groups as defined by U.S. EPA; a 4% increase from The County and all nine cities established a goal to reduce greenhouse gas (GHG) emissions by 25% below 1990 levels by 2015, but until recently the county had seen a decline in air quality since *Note: Data for southern part is not readily available. Waste Disposal County continues to perform well with daily waste disposal per person on a downward trend since In 2012, the total waste disposal was 3.4 lbs per person, which is a decrease from 3.7lbs in Over the same period, the state of has also decreased the volume of waste production per capita, including a 0.1lb decrease from Total Water Use Water usage has declined since its peak in A noteable year was 2011, during which conservation efforts, a cool summer and the weak economy all contributed to a reduced demand of 113 gallons per capita per day, demonstrating a 34.2% decrease. County was unable to maintain this reduction in 2012, in which the total water usage increased to 119 gallons per capita per day, a nearly 5.3% increase. Protected Lands As of 2012, County has protected 181,229 acres, a 44% increase from These lands were selected for preservation in order to provide public recreation, protect natural resources and ecosystems, maintain water supplies, interpret historic sites and preserve County's world-renown landscape. Protected lands offer significant benefits to the local economy through tourism, agriculture, outdoor recreation and other land-based services. In addition, parks, open space and protected properties are a major contributor to the county's quality of life and a key factor in economic development campaigns, public health indicators and other business outreach. Year Protected Lands County Protected Acres , , ,229 Source: Bay Area Open Space Council, Bay Area Protected Lands 2012 Edition Days Pounds per Person per Day Gallons Per Capita Per Day Days with Air Quality Classified as Good Source: Environmental Protection Agency ( Air Quality Index Report '02 '03 Waste Disposal Per Capita, '04 '05 '06 Source: Department of Resources Recycling and Recovery ( '07 '08 '09 County '10 '11 Santa Cruz Santa Barbara San Louis Obispo Total Water Use in Gallons Per Capita Per Day (GPCD) County Water Agency Service Areas, '02 '03 '04 '05 '06 Note: Graph displays County Water Agency Service Areas; private wells not included. Source: County Water Agency ( '07 '08 '09 '10 '11 ' '12 8

11 Health indicators provide information on health care, causes of death, and youth alcohol consumption in County. These statistics offer a glimpse into the health and wellness of the county, particularly in comparison to. People Without Health Insurance County has a lower percentage of uninsured individuals than, but shares a relative similar percentage of uninsured with the United States. In 2012, 85% of individuals living in the County were insured, and 15% were uninsured. Within the group of counties compared on the graph, County ranks 4th lowest in number of uninsured individuals, after County, San Luis Obispo County and County. 35% 30% 25% 20% 15% 10% 5% People Without Health Insurance, 2012 Health Leading Causes of Death Leading causes of death are the most common causes of mortality ranked by frequency of occurrence. In 2010, cancer, heart disease, and Alzheimer s disease accounted for over 50% of all deaths in County. County has higher mortality due to cancer and strokes than the average. Types of Health Insurance Coverage This indicator measures the percentage of individuals who have private and/or public health insurance. The majority of individuals in County (67.1%) have private health insurance while 30.6% have public health insurance. Youth Alcohol Use In County, 79% of 7th grade, 52% of 9th grade and 30% of 11th grade youth have never consumed an alcoholic beverage. By 7th grade, the percentage of youth that have used alcohol one time is 8%, the rate for 9th graders is 10%, and 6% for 11th graders. While the rate of alcohol use among 7th graders remains steady at 7% with a frequency of 4 or more times, the percentage of 9th (25%) and 11th (52%) graders using alcohol at the same frequency (4 or more times) represents a trend of increasing usage. 0% San Luis Obispo United States Source: 2012 American Community Survey ( Causes of Death Leading Causes of Death County, 2010 Influenza/Pneumonia Chronic Liver Disease and Cirrhosis Intentional Self-Harm (Suicide) Diabetes Accidents (Unintentional Injury) Chronic Lower Respiratory Disease Cerebrovascular Disease (Stroke) Alzheimer s Disease Heart Diseases Cancer 0% 5% 10% 15% 20% 25% Source: Department of Public Health ( Youth Alcohol Use in County, % 7th Grade 70% 9th Grade 11th Grade 60% 50% 40% 30% 20% 10% 0% 0 times 1 time 2 or 3 times 4 or more times Source: Healthy Kids Survey, % 70% 60% 50% 40% 30% 20% 10% 0% Types of Health Insurance Coverage in County, 2012* With Private Health Insurance With Public Health Insurance No Health Insurance Coverage *Individuals may have both private and public health insurance Source: 2011 American Community Survey ( 9

12 Society Society indicators include education levels, demographic trends and crime rates. These indicators illustrate relative performance in quality of education, safety and demographic trends. Age Distribution by Ethnicity County, 2012* Age Distribution by Ethnicity Age distribution by ethnicity depicts the shifting demographic composition of County. The data reflects the county s rapidly growing young Hispanic population as well as the aging white population Other Asian Latino White High School Exit Exam (CAHSEE) Pass Rates by Ethnicity Each year, sophomores at public high schools are required to take the CAHSEE, which measures English/language arts and math ability. Students must pass this test to graduate from a public institution. The data suggests pass rates have improved for all ethnicities in the last school year, but that there still exists an achievement gap Age Group 65 & Over *Statistical information for some ethnicities is unavailable due to insufficient sample size Source: U.S. Census, American Community Survey ( Crime Rates The crimes rates indicator measures the number of crimes committed per 100,000 people for County and comparable counties. Crimes classified as violent include homicide, forcible rape, robbery, and aggravated assault. Crimes classified as property include burglary, motor vehicle theft, and larceny, or theft over $400. Among comparable counties, County posts the lowest rate of property crime and places in the middle in the violent crime category CAHSEE Pass Rates by Ethnicity County, School Year 80% 81% English Language Arts 79% 81% 87% 86% 90% Math 92% 92% 92% Educational Attainment by County Educational Attainment indicates the percentage of the population that have earned a high school diploma, bachelor s degree or advanced degree. County ranks favorably, with 31.8% of the population holding at least a bachelor s degree Black Latino Other Asian White Source: Department of Education ( Education Attainment by County, San Luis Obispo 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Advanced Degree Bachelor's Degree High School Graduate Note: High School Degree includes Associates Degree and some college, no degree, population 25 years and older Source: U.S. Census, American Community Survey ( Crimes Committed per 100,000 residents Crime Rates by County 2010 Property Santa Barbara San Luis Obispo Violent Source: Department of Justice ( 10

13 Workforce Workforce indicators provide information on demographic trends, employment concentration and growth in County. These indicators illustrate opportunities and challenges for the county s workforce. Industries with Highest Employment of Workers Ages 55+ Industries with the highest employment of older workers nearing retirement will be most likely to require large quantities of replacement employment in the coming decades. The health care and social assistance industry currently has 6,934 employees nearing retirement age and the largest concentrations of older workers are in the education (32.3%) and health care (25.8%) industries. Population Growth & Demographic Change Over the next several years, the ethnic composition of County is expected to change dramatically. Notably, the Hispanic population is projected to be 27.4% of the population of County by 2020 and about 37% by Understanding demo - - graphic trends in County helps in determining the popula tion s workforce and educational needs. Cluster Employment Growth, Concentration, The graph measures the relative size of County s largest workforce sectors as well as the 10-year cluster growth rates and average annual pay. The graph demonstrates the clusters where employment is concentrated in County and how compensation in those industries compares. With the exception of leisure and hospitality, our growing clusters pay above-average wages, a positive trend that has the potential to increase average pay over time. Number of Employees, Ages Agriculture Highest Employment of Workers Ages 55+, Q Number of Employees, 55+ Accomodation & Food Services Professional Services Other Services Retail Trade % of Industry 55+ Education Manufacturing Health Care & Social Assistance Source: U.S. Census Bureau Longitudinal Employer-Household Dynamics (lehd.did.census.gov) Projected Percent of Population by Ethnicity County (Est.) (Est.) Change Percentage Point White 62.8% 47.2% % Hispanic 27.4% 37.1% 9.7% Asian 3.8% 8.2% 4.4% Multi-Race 3.1% 4.0% 0.9% Black 2.0% 2.6% 0.6% American Indian 0.7% 0.7% - 35% 30% 25% 20% 15% 10% 5% 0% Percent of Industry Employment Ages 55+ Source: Department of Finance ( County 10-year Employment Growth by Cluster -40% -30% -20% -10% 0 10% 20% 30% 40% Employment Growth, Concentration, and Annual Pay by Cluster County, County Average Annual Pay: $49,657 Leisure & Hospitality Farming Retail Trade Construction Education & Health Services Professional & Business Services Manufacturing Increasing number of jobs, but belowaverage wages Declining number of jobs and belowaverage wages How to read this chart : Increasing number of jobs and aboveaverage wages Declining number of jobs, but aboveaverage wages Size of bubble represents concentration (percentage of total jobs) in major clusters $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 Source: Bureau of Labor Statistics ( Employment Development Department ( 11

14 Tourism Tourism indicators measure the economic impact of visitors to County. Visitor spending generates tax revenue and supports the local tourism industry workforce. Key indicators have shown sector growth, with some returning to their pre-recession levels. Hotel Occupancy Rates Hotel occupancy rate is the percentage of rooms used of the total available rooms over a given period of time. County s year-to-date occupancy rate increased 6.8% compared to the same time in 2012, indicating increased travel. 8% 7% 6% 5% 4% 3% Hotel Occupancy Rates Year-To-Date Change Calendar Year * 6.8% Transient Occupancy Tax The Transient Occupancy Tax (TOT) is a local tax levied on lodging property room revenues. TOT figures indicate the condition and trends of the tourism and lodging industries. TOT revenues have increased to $6.69 million in Q from $5.72 million in Q2 of These figures are seasonally adjusted. Visitor Spending Visitor spending measures the amount of money tourists spend when they visit County. It also measures what visitors spend on while they are in County. Total visitor spending increased 8.8% between 2010 and 2011, which is consistent with comparable counties. Distribution of Visitor Spending by Purchased Commodity County, % 15.0% Arts, Entertainment & Recreation (18.6%) 19.7% Accommodations (17.1%) 26.2% Food & Beverage Services (26.2%) 17.1% 18.6% Food Stores (3.4%) Ground Transportation & Motor Fuel (15.0%) Retail Sales (19.7%) Source: Travel Impacts by County, Travel and Tourism Commission, % 1% 0% US *Data is updated through July 2013 Source: Smith Travel Research Millions of Dollars '03 San Luis Obispo Transient Occupancy Tax Revenues County, Q Q (Millions of Dollars, Seasonally Adjusted) '04 '05 '06 '07 Source: Transient Occupancy Tax Report, Q Prepared by the County Economic Development Board, December 2013 () '08 '09 '10 '11 '12 $6.69 ' Total Direct Travel Spending by County, (Millions of Dollars), Millions of Dollars , , , San Luis Obispo Source: Travel Impacts by County, Prepared for the Travel and Tourism Commission by Dean Runyan and Associates, May

15 Methodology, Sources, and Notes Note on Data Sources The 2014 County Indicators provides a comparative study on various economic, demographic, environmental, and social aspects of County. Economic Development Board (EDB) research originates from information available from outside resources and previously published material. The 2014 County Indicators offer partial or composite representations of raw data and cite respective source data sets. For more information, please see the listed sources. The Indicators do not provide complete in depth analyses of all facets of County. The EDB believes all data contained within this report to be accurate and the most current available, but does not guarantee its accuracy or completeness. Use of data from an outside source does not represent an endorsement of any product or service by the EDB, its members or affiliates. The 2014 County Indicators was developed from national and local data sources. Its content is based on models of similar reports from comparable regions around the country, combined with input from various agencies and organizations within the county. The County EDB appreciates organizations that have pioneered approaches used in the 2013 County Indicators report and is grateful to those who provided feedback. Interested readers are encouraged to contact data source agencies or organizations for further research or visit our website for the unabridged version of Indicators released in Spring Readers are also invited to suggest indicators for future reports by calling (707) or ing edb@sonoma-county.org. Sources Bay Area Real Estate Information Services, Inc. Association of Realtors Department of Education Department of Finance Department of Public Health Department of Health Services Department of Justice Department of Resources Recycling Recovery Employment Development Department Postsecondary Education Commission Travel & Tourism Commission Dean Runyan & Associates Moody s Analytics Mycoolbackgrounds.com Robert Holmes Photography Smith Travel Research County Agricultural and Open Space District County Economic Development Board County Water Agency UCLA Health Interview Survey United States Bureau of the Census United States Bureau of Labor Statistics United States Environmental Protection Agency Index Methodology An index is an economic tool that is used to make general comparisons across a range of metrics. For the competitiveness indices, each indicator was divided by the average value for and then multiplied by 100. The total index figure was calculated by averaging, with equal weight, each indicator in the index. The metrics were selected after evaluating other indices, namely the 2010 Regional Economic Scorecard produced by the Charleston Regional Development Alliance. The competitive indices, combined with the other indicators, can provide a more comprehensive understanding of trends in County. Indicators Team The 2014 County Indicators was prepared by the Economic Development Board project coordinators. Palista Kharel was the project lead, managed and edited the report s overall layout and content. She specifically gathered data and prepared both the Economy section and the Indicator s Competitiveness Indexes, with acknowledgment to Moody s Analytics and Employment Development Department. Hanna Berglund was responsible for the research and preparation of the Tourism and Society sections, with acknowledgment to County Tourism and the Travel and Tourism Commission reports published by Smith Travel Research. Andres Peña gathered data and published both the Workforce, Health and Environment sections, with acknowledgment to the State of Economic Development Department, County Health Services, County Agricultural Preservation and Open Space District, and County Water Agency. 13

16 With acknowledgement and appreciation to key local businesses that support economic development in County DIRECTOR EXECUTIVE SPONSOR Economic Development Board 141 Stony Circle, Suite 110 Santa Rosa, CA (707) County Board of Supervisors