Lee s Summit EDC May 28, 2015
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- Bartholomew Ball
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1 Lee s Summit EDC May 28, 2015
2 May You Live in Interesting Times
3 Technology Talent Quality of Life
4 Technology Getting More Done With Less 10% U.S. GDP and Employment Performance % Change Since % 6% 4% 2% 0% -2% -4% -6% -8% GDP Emp Source: Bureau of Economic Analysis and Bureau of Labor Statistics
5 Leading to Industrial Winners and Losers 60% 50% 40% 30% 20% 10% 0% -10% -20% Total NF Construction Manufacturing Trade-Trans-Util Info Financial Prof. Bus. Svcs. Ed & Health Leisure and Hosp Other Svcs. Govt. -30% -40% 70's 80's 90's 2000's Since 2010 Source: Bureau of Labor Statistics
6 Industry Specialization Kansas City Metro Specialization by Location Quotient, 2013 Source: EMSI Industry Concentrations
7 Growth or Decline Kansas City Metro Change in Employment by Industry Specializations, Source: EMSI Industry Concentrations
8 KC Turning a Corner? 3.0% Year over Year Employment Change KC-US 2.0% 1.0% 0.0% -1.0% -2.0% -3.0% -4.0% -5.0% US KC MSA Source: Bureau of Labor Statistics
9 Source: Bureau of Labor Statistics KC Turning a Corner?
10 Voting with their feet. Lee s Summit population has doubled since (46,000 to 93,000 today) Population Change Since 1990* Olathe, KS Lee's Summit, MO Shawnee, KS 69% Leawood, KS 67% Overland Park, KS 61% Lenexa, KS 46% Liberty, MO 45% Blue Springs, MO 31% Belton, MO 27% Excelsior Springs, MO 9% Kansas City, MO 7% Independence, MO 4% Grandview, MO 1% Gladstone, MO -1% Kansas City, KS -2% Raytown, MO -5% Merriam, KS -5% Prairie Village, KS -6% Leavenworth, KS -8% 100% 107% -20% 0% 20% 40% 60% 80% 100% 120% *Cities with at least 10,000 residents in 1990
11 25.0% Population by Age as Percent of Total 23.9% 20.0% 21.0% 15.0% 10.0% 11.5% 12.4% 12.3% 14.2% 14.3% 13.1% 13.2% 14.0% 11.7% 12.3% 13.2% 13.0% 5.0% 0.0% U Lee's Summit KC MSA
12 Population by Age Lee's Summit Population by Age
13 Older households spend about as much as younger households, on average. Based on national data. Source: Bureau of Labor Statistics Consumer Expenditure Survey (CEX).
14 Seniors have seen the fastest increase in average expenditures over the last decade. Based on national data. Source: Bureau of Labor Statistics Consumer Expenditure Survey (CEX).
15 Change in Young and Educated* ,000 8,000 8,436 6,000 4,000 4,593 2,000-1, (2,000) (1,052) (1,952) (4,000) KCMO Overland Park KCK Lee's Summit Independence Olathe *25-34 with at least a Bachelor's Degree
16 Educational Attainment 70.0% 60.0% Percent of Adult Population with at least a Bachelor's Degree 58.6% 50.0% 40.0% 30.0% 29.6% 33.7% 45.3% 40.6% 31.4% 20.0% 17.0% 10.0% 0.0% U.S. Kansas City, MSA Overland Park Olathe Lee's Summit Kanas City, MO Independence
17 Income $90,000 Median Household Income $80,000 $70,000 $77,014 $75,304 $69,759 $60,000 $50,000 $40,000 $52,250 $56,248 $45,551 $42,298 $30,000 $20,000 $10,000 $- U.S. Kansas City MSA Lee's Summit Olathe Overland Park Kansas City, MO Independence
18 Home Values $250,000 Median Home Value $228,500 $200,000 $150,000 $173,900 $157,400 $197,000 $188,600 $126,900 $100,000 $93,500 $50,000 $- U.S. Kansas City MSA Overland Park Olathe Lee's Summit Kansas City MO Independence
19 Lee s Summit Pull Factors Lee's Summit Taxable Sales Per Missouri Taxable Sales Per LS Pull SIC Industry Taxable Sales Capita Taxable Sales Capita Factors 531 Dept Stores $ 195,539,408 $ 2,083 $ 11,206,509,688 $ 1, Lumber $ 41,081,657 $ 438 $ 2,492,928,535 $ Grocery Stores $ 212,487,416 $ 2,264 $ 8,780,610,159 $ 1, Hardware Stores $ 16,846,291 $ 179 $ 825,894,036 $ Motor Vehicle Dealers $ 7,852,954 $ 84 $ 484,016,948 $ Eating and Drinking Places $ 161,308,109 $ 1,719 $ 9,470,606,162 $ 1, Retail Nurseries $ 9,132,857 $ 97 $ 416,033,993 $ Hotels, Motels and Tourist Courts $ 8,117,577 $ 86 $ 1,543,292,152 $ TOTAL $ 1,364,794,368 $ 14,540 $ 82,229,099,423 $ 13,
20 Local Sector Traded Sector
21 Employment by Industry 2011 Employment - Lee's Summit Health Care & Social Assistance Retail Trade Educational Svcs Accommodation & Food Svcs Admin.n & Support Prof., Scientific, & Technical Svcs Manufacturing Wholesale Trade Construction Finance & Insurance Mgmt. of Companies & Enterprises Other Svcs (excl Public Admin.) Public Administration Arts, Entertainment, & Recreation Real Estate & Rental & Leasing Transportation & Warehousing Information Utilities Ag, Forestry, Fishing & Hunting Mining, Quarrying 2,061 1,967 1,951 1,718 1,593 1,535 1,132 1, ,418 3,737 5,462 6, ,000 2,000 3,000 4,000 5,000 6,000 7,000
22 Change in Employment by Industry Employment - Lee's Summit Health Care & Social Assistance Retail Trade Mgmt. of Companies & Enterprises Admin.n & Support Prof., Scientific, & Technical Svcs Finance & Insurance Educational Svcs Accommodation & Food Svcs Wholesale Trade Transportation & Warehousing Public Administration Arts, Entertainment, & Recreation Other Svcs (excl Public Admin.) Utilities Ag, Forestry, Fishing & Hunting Mining, Quarrying Manufacturing Construction Information Real Estate & Rental & Leasing , , Traded Sector
23 Commuting Patterns 2002
24 2011 Commuting Pattern
25 Where Lee s Summit Residents Work
26 Where Lee s Summit Workers Live
27 Take-Aways There is a LOT of technological change We are getting more done with less. Certain industries are winning Certain Metros are winning Kansas City in the middle, but showing good signs Lee s Summit, already a population driver, became more of an economic driver What s good for the KC Metro is good for Lee s Summit and visa versa.
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