Economic Indicators for Greater Cheyenne

Transcription

1 Economic Indicators for Greater Cheyenne Volume XXX - Number 4 December 2014 Wyoming Center for Business & Economic Analysis wyomingeconomicdata.com

2 Economic Indicators For Greater Cheyenne Wyoming Center for Business & Economic Analysis, Inc 1720 Carey Ave., Suite 520 Cheyenne, WY (307) Volume XXX, Number 4 December 2014

3 TABLE OF CONTENTS FRONT MATTER Preface...ii ECONOMIC INDICATORS ANALYSIS FOURTH QUARTER OVERVIEW...2 Labor Market Performance...2 General Business Activity...6 Government Finances...9 Financial Sector...11 CONSTRUCTION...14 Residential Construction...14 Commercial/Industrial Construction...19 Commercial Property Vacancies...20 Residential Housing Market...22 Apartment Vacancies...24 DEMOGRAHICS & TOURISM...27 Cheyenne/Laramie County Profile...34 Data Sources...36 COMMUNICATIONS Data Center Phone: (307) Data Center FAX: (307) Editor Web Site: Mailing Address: Wyoming Center for Business & Economic Analysis, Inc Carey Ave., Suite 520 Cheyenne, WY Editor... R.T. O Gara Research Assistance... Cynthia Branch Typography...Stacy Shultz-Bisset Cover Design...Cheyenne LEADS The articles appearing in this publication represent the opinions of the authors and do not necessarily reflect the views of funding agencies and organizations. Duplication or quotation of material in this publication is welcomed, but it is requested that the Center be credited.

4 Preface Hard copies of this publication are no longer available. Publications are available in PDF format on our website. Sign up for our monthly e-newsletter announcing when publications are updated and available. Sign up right from our home page or send an with your information to allow us to add you to our list. THE CENTER S STAFF SINCERELY APPRECIATES THE CONTINUING AND PAST COOPERATION OF THE DATA SOURCES LISTED IN THE BIBLIOGRAPHY. (ii)

5 ECONOMIC INDICATORS ANALYSIS 1

6 FOURTH QUARTER 2014 OVERVIEW There was an unexpected surprise in third quarter 2014 labor market data. After seeing a long string of quarterly modest to robust job gains in the greater Cheyenne economy, job growth went flat last quarter on a year-over-year basis. Local Area Unemployment Statistics (LAUS) reported a net gain of only 52 jobs (0.12%) from third quarter 2013 while the Current Employment Statistics (CES) gained only 100 jobs (0.21%) over the same period. Sorry, but there was no ready explanation for this unexpected softening especially in light of the fact that the sharp drop in oil prices had not impacted third quarter economic activity. Our best hypothesis at the time of this report is to suggest there may be have been an administrative glitch in the data reporting/sampling process and therefore, it would not be surprising to see upward revisions in third quarter data in coming weeks. If this explanation does not suffice, an alternative hypothesis would suggest that after posting consistent and strong growth over the past 2 years or more, local economic drivers took a deep breath and paused for 90-days before resuming their upward drive. Other economic indicators to be discussed below suggest this hypothesis may have some merit. One idea to keep in mind, even though job growth slowed last quarter, the number of new jobs created over the past two years still hovered near 2,000. Labor Market Performance Table 1 presents the balance of labor market indicators for Laramie County. Both the unemployment rate and the number of unemployed rose during the third quarter. The unemployment rate averaged 4.6 percent last quarter as compared 4.3 percent in the second quarter and 4.4 percent from third quarter Similar to the national economy, these increases reflected the movement of previously discouraged workers who had dropped out of the workforce to reenter the labor market in hopes of finding employment in such a robust economic environment currently enjoyed by Laramie County. Evidence of this is readily apparently with a quick examination of Help-Wanted advertisements. The number of such ads averaged 858 per month during third quarter 2014, up 4.6 percent from second quarter and 17.2 percent from third quarter From two years ago, the gain was 35.6 percent. All-in-all, the local labor market remained close to full-employment as third quarter 2014 ended. The balance of this report will examine seven other sectors of the local economy. 2

7 In Thousands Graph 1 LARAMIE COUNTY EMPLOYMENT* Monthly Average * Current Employment Statistics (CES) Graph 2 LARAMIE COUNTY UNEMPLOYMENT Monthly Average ,500 3,000 2,500 2,000 1,500 1,000 1,435 1,466 1,414 1,505 1,656 1,738 1,917 1,883 1,762 1,628 1,502 1,700 2,836 3,354 3,082 2,791 2,289 2,

8 Graph 3 INITIAL UNEMPLOYMENT CLAIMS Monthly Average Graph 4 HELP - WANTED ADS, CHEYENNE Monthly Totals Source: WY Department of Workforce Services 4

9 A 3Q12 TABLE 1 LABOR MARKET* B 3Q13 C 2Q14 D 3Q14 A TO D B TO D C TO D Total Civilian Labor Force (LAUS) 45,502 46,673 46,655 46, Total Employment (LAUS) 42,891 44,610 44,653 44, Total Employment (000) (CES) Total Unemployment (LAUS) 2,611 2,063 2,002 2, Unemployment Rate (%) (LAUS) Initial Unemployment Claims Help Wanted Ads (a) * Labor Market statistics are compiled from two major sources: Current Population Survey (CPS) and Current Employment Statistics (CES). Local Area Unemployment Statistics (LAUS) are estimated based on CPS data which is collected through household surveys which individuals are reported as employed, unemployed or not in the labor force. This data includes employment for both agriculture and nonagricultural industries. CES data is based on establishment records compiled through monthly surveys of nonfarm employers. Individuals who worked in more than one establishment, full or part-time, are counted each time their names appear on payrolls. (a) Wyoming Department of Workforce Services data has replaced Wyoming Tribune Eagle ads. Figures reported are the monthly average for the quarter. 5

10 General Business Activity Table 2 presents indicators measuring general local business activity. Other than for the depressed enplanement statistics, indicators for general business also slowed in the third quarter. Estimated retail sales which have risen at unusually fast rates over the first two quarters of 2014, slowed sharply this quarter when compared to third quarter This series increased 1.3 percent over that period, but remained 15.4 percent higher than levels posted two years ago. Even though the year-over-year rate slowed this quarter, the rate of growth between second and third quarters hit 16.3 percent. More importantly, when a year-to-date comparative analysis is made, the gain in retail sales over the first three quarters of 2014 remained impressive. Only two out of 14 sub-sectors were in negative territory General Merchandise sales were down 1.3 percent and Department Store sales were off 5.7 percent. However, most other sub-sectors posted large year-to-date increases: for example Miscellaneous Retail sales +29.3%; Electronic sales +21.6%; Lodging +15.9%; Residential Construction +337%; Non-residential Construction +48.4%. The largest sub-sector of retail sales, automobile sales, however, is the one that has restrained overall sales. Year-to-date, it had increased by just 2.0 percent by the end of the third quarter. The next two largest sub-sectors, Building Materials and Eating & Drinking Places had increased by 9.7 percent and 4.4 percent respectively. Auto registrations were also flat this quarter, up 0.1 percent while the number of bankruptcies continued to decline both quarter-to-quarter and year-over-year. 250 Millions Graph 5 RETAIL SALES, LARAMIE COUNTY Monthly Totals

11 3000 Graph 6 ENPLANEMENTS, CHEYENNE AIRPORT Monthly Totals Graph 7 Laramie County Bankruptcies Averages

12 TABLE 2 GENERAL BUSINESS ACTIVITY A 3Q12 B 3Q13 C 2Q14 D 3Q14 A TO D B TO D C TO D Auto Registrations New & Used 3,321 3,344 3,261 3, Enplanements Cheyenne Airport 1, Total Retail Sales ($000) 302, , , , Bankruptcies Figures reported are the monthly average for the quarter 8

13 Government Finances While retail sales may have slowed from its torrid pace as mentioned above, sales tax collections and tax receipts to local government entities during third quarter 2014 did not. Both collections and receipts rose nearly 20 percent year-over-year while lodging tax receipts increased 41 percent. Tax collections at eating and drinking places grew 4.7 percent from this time one year ago and stood 12 percent higher than third quarter A 3Q12 TABLE 3 GOVERNMENT REVENUES B 3Q13 C 2Q14 D 3Q14 A TO D B TO D C TO D 4%, 1%, & Lodging Tax Collections ($000) 24,778 27,816 27,095 33, Actual Receipts to County Entities ($000) (a) 10,017 11,821 11,637 14, % Sales & Use Tax Receipts ($000) 4,819 5,408 5,317 6, Lodging Tax Receipts 461, , , , % Special Purpose Tax Receipts ($000) N/A 5,389 5,310 6,470 N/A Retail Sales Eating and Drinking Places ($000) 45,043 48,118 42,373 50, (a) This total includes the 4% Sales and 4% Use Tax, the 1% Sales and 1% Use Tax, the Out of State Use Tax, and the Out of State Sales Tax. As of July 1, 1993, the state sales and use tax levy was changed from 3% to 4%. The percentage of sales & use tax collections distributed to counties is 31%. N/A Not Available 9

14 Graph 8 LARAMIE COUNTY 1% OPTIONAL SALES AND USE TAX RECEIPTS Monthly Average $1,900,000 $1,700,000 $1,500,000 $1,300,000 $1,100,000 $900,000 $700,000 $822,535 $829,441 $922,207 $976,514 $1,050,464 $1,131,895 $1,139,444 $1,171,467 $1,210,034 $1,268,692 $1,255,550 $1,273,843 $1,210,767 $1,232,911 $1,445,489 $1,489,900 $1,590,262 $1,877,680 $500, $300 $280 $260 $240 $220 $200 $180 $160 $140 $120 $100 $80 $60 $40 $20 $0 -$20 -$40 -$60 Thousands Graph 9 LODGING TAX RECEIPTS, LARAMIE COUNTY Monthly Totals 2% Lodging Tax effective 7/1/87 thru 3/31/03 3% Lodging Tax effective 4/1/03 thru 3/31/07 4% Lodging Tax effective 4/1/

15 Financial Sector The data presented in Table 4 is from local credit unions. Credit unions continued to do well through the third quarter with 4 of 5 indicators in solid positive territory. Delinquencies have remained at higher levels through the first three quarters of 2014 than those reported in 2013, but were fractionally lower than the level reported from two years ago. Even though current commercial banking statistics are not available, the assumption is that they, too, have done well over the first three quarters of Millions Graph 10 TOTAL LOANS AND DEPOSITS Cheyenne Area Credit Unions Total Loans Total Deposits a) As of January 1, 2000, one Credit Union discontinued reporting their statistics. b) Beginning in 2003, the data reflects two additional credit unions 11

16 Millions Graph 11 DELINQUENCIES Cheyenne Area Credit Unions (in Dollars) a) As of January 1, 2000, one Credit Union discontinued reporting their statistics. b) Beginning in 2003, the data reflects two additional credit unions Millions Graph 12 TOTAL LOANS AND DEPOSITS Cheyenne Area Banks Total Loans Total Deposits 12

17 CREDIT UNION DATA A 3Q12 B 3Q13 TABLE 4 BANKING C 2Q14 D 3Q14 A To D B To D C To D Deposits ($000) 990,454 1,065,202 1,106,778 1,127, Total Loans ($000) 749, , , , Net Income Y-T-D ($) 7,630,843 7,069,836 5,559,381 9,181, Delinquencies ($) 7,833,113 6,668,206 7,496,887 7,783, Memberships 103, , , , BANKING DATA Deposits ($000) 482, ,249 N/A N/A Total Loans ($000) 204, ,722 N/A N/A Net Income Y-T-D ($000) 3,977 4,118 N/A N/A N/A Not Available 13

18 CONSTRUCTION Residential Construction Table 5 provides various measures for new residential and commercial construction within Laramie County and the City of Cheyenne. The overall level of commercial construction, new and remodeled, rose nicely over third quarter However, new residential construction, especially within city limits, was extremely disappointing. Single-family construction outside of city limits was unchanged year-over-year, there were 41 permits issued in the last quarter as compared to 41 in third quarter New single-family residential construction within the city decreased by 46 percent from the same time one year ago and dropped 50 percent from second quarter The expectation was that within city construction would have climbed above second quarter activity, not decline. Through the first three quarters of 2014, 240 single-family building permits were issued on a county-wide basis as compared to 317 over the same period in 2013, a decrease of 24.3 percent. Last year there were 156 new apartment units permitted through the first 3 quarters whereas there have been none issued thus far in 2014 (Table 5A). The average monthly value of overall authorized construction during the third quarter was 17.3 million dollars which was an increase of 16 percent over third quarter 2013 and a 73 percent increase over second quarter This indicator is notoriously volatile and large quarter-to-quarter changes are not unexpected. Through the first 3 quarters of 2014, the total value of authorized construction within city limits was million dollars as compared to million dollars, a decrease of 6.0 percent which was a change of much less magnitude than the quarterly changes just mentioned. Core Logic reported 26 new homes were sold monthly over the third quarter as compared to 22 during the second quarter and 16 in the first quarter. Third quarter new homes sales in 2013 averaged 25 by comparison. The third quarter average selling price for a new home was $330,849 as compared to an average price of $283,948 from third quarter 2013, (+16.5%). New homes sales accounted for 11 percent of all home sales during the third quarter which was well in-line with the historical average of 10 per month. The bottom half of Table 5 presents utility statistics for the greater Cheyenne economy. In this edition and going forward, we will combine Commercial and Industrial Electrical Power consumption, whereas past data for this series only included commercial power. The inclusion of Industrial users will help to track the increase in electrical usage due to the addition over the past 2 years of four major computer data centers (NCAR, Microsoft, Green House and Echo Star) which consume massive amounts of electricity. As expected, electrical consumption increased sharply with this change. Power consumption increased 10.2 percent in the third quarter as compared to this time one year ago, It was up 11.8 percent over two years ago. Commercial and industrial users consumed an average of 78 megawatts (MW) of electricity in the last quarter as compared to 70 MW in the third quarter of Residential electrical consumption was 20.8 MW in the last quarter and when combined with C&I consumption, total consumption was 98.8 MW. The new natural gas fired Cheyenne Prairie Generating Station that just went on-line in October generates 132 MW of electricity. Expect C&I electrical consumption to increase further as additional computer usage from the Microsoft data center complex goes on-line in coming months. 14

19 A 3Q12 TABLE 5 CONSTRUCTION B 3Q13 C 2Q14 D 3Q14 A To D B To D C To D CONSTRUCTION Single Family Bldg Permits City Single Family Bldg Permits Rural Total Bldg Permits City (a) Septic Permits Rural Value of Authorized Construction City ($000) 16,283 14,868 9,930 17, New Residential Construction City ($000) 5,124 4,109 4,018 2, UTILITIES Commercial & Industrial Power ( 000,000) Kwh Residential Gas Usage ( 000) Mcf Metered Water Taps (CBPU) 22,620 22,943 23,045 23, Metered Water Taps (SCWSD) 3,310 3,321 3,324 3, (a) Data includes building and non-building. Single Family Building Permits are a total of the figures for three months. All other construction figures are the monthly average for the quarter. CPBU Cheyenne Board of Public Utilities SCW&SD South Cheyenne Water & Sewer District 15

20 2011 TABLE 5A NEW RESIDENTIAL CONSTRUCTION Number of Permitted Units Laramie County UNITS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL UNITS Single Family Manufactured Duplex Tri & Four Plex Multi-family Total UNITS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL UNITS Single Family Manufactured Duplex Tri & Four Plex Multi-family Total UNITS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL UNITS Single Family Manufactured Duplex Tri & Four Plex Multi-family Total UNITS JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC TOTAL UNITS Single Family Manufactured Duplex Tri & Four Plex Multi-family Total

21 Graph 13 SINGLE-FAMILY BUILDING PERMITS, CHEYENNE Monthly Totals Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Graph 14 COMMERCIAL ELECTRIC POWER SALES, CHEYENNE Monthly Totals Millions

22 Graph 15 CHEYENNE METERED WATER TAPS Monthly Average ,500 23,000 22,500 22,000 21,500 21,000 20,500 20,000 19,500 19,000 18,500 18,000 18,691 18,890 19,100 19,193 19,355 19,532 19,832 20,246 20,721 21,225 21,600 21,678 21,929 22,048 22,338 22,581 22,863 23,077 17, Metered Water Taps (CBPU) Graph 16 SOUTH CHEYENNE METERED WATER TAPS Monthly Average ,300 3,100 2,900 3,026 3,045 3,067 3,094 3,112 3,131 3,156 3,178 3,210 3,250 3,284 3,293 3,300 3,304 3,306 3,310 3,317 3,324 2, Metered Water Taps (SCW&SD) 18

23 Commercial/Industrial Construction The City saw new and remodeled commercial construction average 7.0 million dollars per month during the third quarter which was an increase of 119 percent over second quarter s average of 3.2 million dollars. Five new commercial structures were permitted within city limits with 4 being retail structures. Outside of the city, 9 new commercial or industrial facilities were permitted with the largest valued at million dollars with this latter permit part of the Microsoft data center complex currently under construction in the North Business Park. Graph 17 TOTAL BUILDING PERMITS, CHEYENNE Monthly Totals Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

24 Commercial Property Vacancies Table 6 presents a summary of the number of commercial properties for sale and/or lease in the greater Cheyenne market from fourth quarter 2011 through third quarter 2014 along with total square footage and vacancy rates. Average rental rates are also provided. By the end of third quarter 2014, there were 142 active properties on the market which was an increase of 2 from second quarter s total of 140. At the end of third quarter 2013, there were 147 properties by comparison. Available retail properties increased by 8.8 percent (5 properties) over second quarter 2014 while warehousing saw an increase of one and office properties declined by 4 (-6.8%). By the end of the quarter, there was 461,778 sf of warehousing, 358,816 sf of office space and 337,471 sf of retail space on the market throughout Laramie County. NOTE: For a complete listing of available commercial properties in the greater Cheyenne area and discussion of changes in the commercial building market over the third quarter of 2014, please go to the Data Center s homepage ( com) and click Commercial Property Opportunities. PROPERTY TYPE TABLE 6 COMMERCIAL PROPERTY For Sale & Lease (1,500 Sq. Ft. and Above) # PROPERTIES SQUARE FOOTAGE AVG. LEASE RATE MIN./MAX. RATE VACANCY RATE FOURTH QUARTER 2011 Warehouse ,361 $ % FR Retail ,138 $ % FR Office Space ,942 $ % FR FIRST QUARTER 2012 Warehouse ,210 $ % FR Retail ,323 $ % FR Office Space ,336 $ % FR SECOND QUARTER 2012 Warehouse ,917 $ % FR Retail ,817 $ % FR Office Space ,705 $ % FR THIRD QUARTER 2012 Warehouse ,066 $ % FR Retail ,151 $ % FR Office Space ,327 $ % FR FOURTH QUARTER 2012 Warehouse ,612 $ % FR Retail ,585 $ % FR Office Space ,463 $ % FR FIRST QUARTER 2013 Warehouse ,000 $ % Retail ,589 $ % Office Space ,074 $ % 20

25 PROPERTY TYPE # PROPERTIES SQUARE FOOTAGE AVG. LEASE RATE MIN./MAX. RATE VACANCY RATE SECOND QUARTER 2013 Warehouse ,655 $ % Retail ,118 $ % Office Space ,898 $ % THIRD QUARTER 2013 Warehouse ,444 $ % Retail ,146 $ % Office Space ,838 $ % FOURTH QUARTER 2013 Warehouse ,724 $ % Retail ,984 $ % Office Space ,964 $ % FIRST QUARTER 2014 Warehouse ,203 $ % Retail ,281 $ % Office Space ,456 $ % SECOND QUARTER 2014 Warehouse ,235 $ % Retail ,561 $ % Office Space ,057 $ % THIRD QUARTER 2014 Warehouse ,778 $ % Retail ,471 $ % Office Space ,816 $ % FR = Final Revision 21

26 Residential Housing Market Table 7 below presents statistics for the local residential housing market, both city and rural areas. The first part of the table presents 13 different series measuring residential housing activity throughout Laramie County. These statistics are from Core Logic (CL) and provide a more comprehensive and in-depth look at the residential housing market than previously available. Below the Core Logic data, the reader will find statistics from the Cheyenne Board of Realtors (CBR). Both data sets are included which allows for a more complete picture of the housing market. Core Logic data is derived from a considerably larger sample than CBR statistics and should provide a higher degree of accuracy. Third quarter average monthly homes sales increased over second quarter sales by 6.9 percent, but decreased 12.6 percent from third quarter 2013 sales which was opposite of expectations. The current average was 231 home sales as compared to 265 year-over-year. On a more positive side, average selling prices rose 5.9 percent from one year ago ending third quarter 2014 at $231,811 versus $218,809 from one year ago. Average monthly resale sales were 187 during the current quarter which was down 10.4 percent from third quarter 2013 s average of 209. This series also increased over second quarter 2014 sales and were 18 percent higher than sales from two years ago. The average selling price of an existing home ($225,025) increased 2.4 percent yearover-year and was ahead of second quarter s 2014 price of $211,381 by 6.5 percent. Total foreclosures again increased, albeit marginally, for the second quarter in a row. There were 368 over the current quarter as compared to a total of 366 in the second quarter of this year, up 0.4 percent. However, results from two years ago were decidedly not positive. Current foreclosures increased 70 percent over third quarter 2012 and were ahead of third quarter 2013 by 6.4 percent. This trend has been in the making for a number of months as banks have moved previously distressed homes back on the market given improved market conditions rising home prices and shrinking supplies of new and existing homes. The sell-off of these housing assets will decidedly improve bank balance sheets as the inventory is sold off at higher prices. Cheyenne Board of Realtor statistics for this quarter reported a continuing decline in the supply of homes available for sale, down 8.8 percent from one year ago and off 15.3 percent from two years ago. The average number of city homes for sale was 309 during this quarter as compared to 339 one year ago and 365 from two years ago. The supply of rural residences also moved in the same direction as city residences. 22

27 200 Graph 18 RESIDENTIAL UNITS SOLD Monthly Totals Condo Units Sold Rural Units Sold City Units Sold Total Units Sold Graph 19 AVERAGE CITY AND RURAL RESIDENTIAL SALE PRICES LARAMIE COUNTY 325, , , , , , , , , ,000 Sales Price , Source: Cheyenne Board of Realtors Avg. City Price Avg. Rural Price 23

28 Apartment Vacancies The continuing tight supply of rental units in the local market has been discussed in previous editions of this report and little changed over the third quarter. The vacancy rate at large apartment complexes remained at 1.4 percent, virtually unchanged from last quarter and third quarter There was a modest increase in the number of unfurnished apartments last quarter (+7 units) from second quarter s average of 44. However, these were not tied to the 156 units presently being constructed. Those units will begin go on the market in October Graphs 20 and 21 below present the above data. 120 Graph 20 UNFURNISHED APARTMENT VACANCIES, CHEYENNE Monthly Totals

29 Graph 21 SAMPLED APARTMENTS PERCENT VACANT, CHEYENNE Monthly Totals

30 A 3Q12 TABLE 7 RESIDENTIAL HOUSING MARKET B 3Q13 C 2Q14 D 3Q14 Percentage Change A to D Percentage Change B to D Percentage Change C to D CORE LOGIC Avg. Residentials Sold Avg. Sales Price 209, , , , New Construction Sales Total/Q New Construction Sales % of total sales 9.6% 9.3% 10.4% 11.1% Avg. New Construction Sales Price 300, , , , Avg. Resale Sales Count Avg. Resale Sales Price 208, , , , Foreclosures Total/Q Avg. Foreclosure Rate 0.5% 0.8% 0.9% 0.9% Short Sales Total/Q Avg. Short Sales Price 160, , , , Avg. Negative Equity Loans 1, Avg. 90+ Day Delinquencies CHEYENNE BOARD OF REALTORS City Residential Units For Sale Rural Residential Units For Sale Avg. Residentials Sold Avg. City Residential Sale Price ($) 194, , , , Avg. Rural Residential Sale Price ($) 279, , , , Residential Avg. Days on Market (a) VACANCIES (b) Furnished Apartments Unfurnished Apartments Homes and Duplexes Mobile Homes Sampled Apartments % Vacancy (Large Complexes Only) 2.3% 1.4% 1.4% 1.4% Average Sample Sizes (a) Average days on the market calculated from listing to under contract dates not listing to closing dates as usually reported. (b) Source: Wyoming Center for Business & Economic Analysis, Inc. Note: Each figure reported is an average of the figures for the three months, unless otherwise indicated. 26

31 DEMOGRAPHICS & TOURISM Below are additional tables and graphs that present current demographic and tourism trends within Laramie County. Table 8 presents demographic data while Table 9 presents tourism indicators. In Table 9, local tourism data suggested that sector enjoyed a good year. Only I-25 visitation statistics were in negative territory at the end of third quarter 2014, down 6.2 percent year-over-year. The healthy motel/hotel results reported in Table 9, especially the 8.5 percent increase average room rates ($101.85) was directly attributed to the on-going strong commercial construction activity and the oil and gas play currently underway in Laramie County. Both sectors had to house their respective workforces in local hotels and motels. A 3Q12 TABLE 8 DEMOGRAPHICS B 3Q13 C 2Q14 D 3Q14 A TO D B TO D C TO D HUMAN SERVICES Total Emergency Room Visits 3,363 3,303 3,390 3, Safehouse # of People Sheltered Comea Shelter Nights Lodging 998 1,688 1,886 N/A DPASS AFDC Distributions SCHOOL ENROLLMENTS Laramie County District #1 13,323 12,777 13,128 13, Laramie County District # Private Schools Home Schooling Total School Enrollment 14,975 15,019 14,973 14, LCCC Enrollment FTE (Laramie County Sites) 2,193 2,097 2,030 N/A LCCC Enrollment Headcount (Laramie County) 4,081 3,777 3,893 N/A Note: Each figure reported is an average of the figures for three months. N/A Not Available 27

32 A 3Q12 B 3Q13 TABLE 9 TOURISM C 2Q14 D 3Q14 A TO D B TO D C TO D Available Rooms 71,020 72,515 75,083 76, Nights Occupied 55,589 57,468 52,917 61, Occupancy Rate (%) Average Room Rate $89.58 $93.87 $83.27 $ Visit Cheyenne Walk-in Count 6,212 7,040 5,484 7, Trolley Ridership 1,731 2,061 2,460 2, Pine Bluffs Info Center 15,863 17,783 12,356 18, I-25 State Visitor Center 9,052 26,321 15,763 24, Old West Museum Paid Visitor 3,571 4,378 1,501 5, Graph 22 TOTAL EMERGENCY ROOM VISITS Monthly Totals Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

33 Thousands Graph 23 LARAMIE COUNTY SCHOOLS Monthly Totals Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

34 TABLE 10 EMPLOYMENT* Total Civilian Labor Force (LAUS) Total Employment (LAUS) Total Employment (CES) Total Unemployment (LAUS) Unemployment Rate (LAUS) Initial Unemployment Claims Help Wanted Ads GENERAL BUSINESS ACTIVITY Auto Registrations Enplanements Cheyenne Airport JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG YEAR 45,653 45,841 45,906 46,053 45,943 46,440 47,416 46,739 45,865 45,899 46,684 46,537 46, ,919 46,584 47,034 46,971 46,264 46,731 47,425 46,926 46,127 46, ,620 43,108 43,341 43,808 43,794 44,135 45,299 44,639 43,892 43,860 44,657 44,358 43, ,365 44,100 44,802 45,237 44,280 44,442 45,147 44,723 44,117 44, ,200 44,400 44,700 45,300 46,400 47,000 47,300 46,800 46,400 46,600 46,600 46,600 46, ,300 44,400 45,400 45,700 45,800 46,600 47,200 46,800 46,800 46, ,033 2,733 2,565 2,245 2,149 2,305 2,117 2,100 1,973 2,039 2,027 2,179 2, ,554 2,484 2,232 1,734 1,984 2,289 2,278 2,203 2,010 2, , ,609 2,458 3,091 2,951 3,313 3,474 3,149 3,769 3,114 2,963 2,369 2,505 2, ,473 2,413 2,996 3,199 3,293 3,290 3,525 3,336 3,182 3, ,064 1,050 1, , Retail Sales ($) Bankruptcies 70,412,400 77,384,600 67,734,100 64,936,200 76,761,200 85,658,900 67,241,200 96,967,500 85,631,700 94,374,100 87,110,200 76,741,300 79,246, ,254,100 68,616,400 78,595,600 63,720,600 86,374,300 94,370,000 71,552, ,633, ,886,200 85,333, * Labor statistics are compiled from two major sources: Current Population Survey (CPS) and Current Employment Statistics (CES). Local Area Unemployment Statistics (LAUS) are estimated based on CPS data which is collected through household surveys which individuals are reported as employed, unemployed or not in the labor force. This data includes employment for both agriculture and nonagricultural industries. CES data is based on establishment records compiled through monthly surveys of nonfarm employers. Individuals who worked in more than one establishment, full or part-time, are counted each time their names appear on payrolls. 30

35 TABLE 11 HOUSING Total Residential Units for Sale Total Residential Units Sold Average Residential Sold Price (city) Furnished Apartments Unfurnished Apartments Homes & Duplexes Mobile Homes Sampled Apartments % Vacant CONSTRUCTION Single Family Bldg. Permits (Cheyenne) Single Family Bldg. Permits (Laramie County) Septic Permits Rural Total Building Permits (Cheyenne) Value of Authorized Const (Cheyenne) ($000) Residential ($000) (Cheyenne) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG YEAR , , , , , , , , , , , , , , , , , , , , , , , % 2.2% 1.5% 1.5% 1.6% 1.9% 1.8% 1.2% 1.2% 1.7% 1.1% 1.9% 1.7% % 1.3% 1.3% 1.3% 1.6% 1.4% 1.9% 1.5% 0.9% 1.4% ,572 3,983 14,016 6,475 20,148 12,848 23,368 14,569 6,668 7,439 8,537 6,110 11, ,557 13,652 6,830 7,246 12,722 9,821 9,991 34,930 6,857 11, ,543 2,098 2,751 5,140 15,474 5,782 5,538 3,507 3,283 2,977 4, , ,174 3,652 3,369 2,412 2,473 7,170 3, ,834 2, Note: Data is not seasonally adjusted. Single family building permits for Cheyenne includes new residences and new townhouses. 31

36 TABLE 12 UTILITIES Commercial & Industrial Power (Kwh) (0,000) Residential Gas Usage (Mcf) ( 000) Metered Water Taps (CBPU) Metered Water Taps (SCW&SD) HUMAN SERVICES Total Emergency Room Visits Safehouse Number of People Sheltered Comea Shelter Total Nights Lodging SCHOOL ENROLLMENTS Laramie County District #1 Laramie County District #2 Total School Enrollment LCCC Enrollment FTE (Laramie County Sites) LCCC Enrollment Headcount (Laramie County Sites) JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG YEAR 6,762 6,564 6,849 6,740 6,654 6,923 7,118 6,942 7,252 6,826 6,406 8,525 6, ,953 7,276 7,498 7,446 7,348 7,487 7,449 8,203 7,838 7, ,877 22,626 22,705 22,719 22,766 23,109 22,926 22,944 22,960 23,009 22,809 22,901 22, ,155 22,898 22,943 22,991 23,038 23,107 23,145 23,201 23,211 23, ,310 3,310 3,310 3,312 3,315 3,317 3,319 3,322 3,322 3,322 3,322 3,323 3, ,323 3,323 3,323 3,323 3,323 3,325 3,325 3,325 3,325 3, ,603 3,088 3,133 2,999 3,302 3,258 3,279 3,415 3,216 3,210 2,990 3,293 3, ,436 3,034 3,402 3,246 3,507 3,418 3,683 3,536 3,710 3, ,558 1,678 1,892 1,782 1,767 1,732 1,710 1,859 1,495 2,065 1,960 2,099 1, ,720 1,572 1,647 1,807 1,879 1,971 N/A N/A N/A 1, ,250 13,324 13,324 13,341 13,341 12,998 13,649 13,512 13,542 13,372 13, ,579 13,179 13,179 13,150 13,105 13,030 13,030 13, ,883 14,958 14,954 14,974 14,971 14,693 15,344 15,205 15,240 15,066 15, ,268 14,879 14,875 14,849 14,802 14,811 14,769 14, , , , , , , , , , , , , , , , , N/A N/A 2, ,553 5,553 5,553 5,553 5,553 1,618 1,618 4,857 4,857 4,857 4,857 4,857 4, ,029 5,029 5,029 5,029 5,029 1,622 1,622 N/A N/A 4, N/A Not Available Note: Data is not seasonally adjusted. 32

37 TAXES 4%, 1%, & Lodging Tax Collections Wholesale and Retail Sales and Use Tax Collections Actual Receipts to County Entities 1% Sales and Use Tax Receipts Lodging Tax Receipts TOURISM Available Rooms Nights Occupied Occupancy Percentage Average Room Rate Visit Cheyenne Walk-In Count Trolley Ridership Pine Bluffs Information Center Wyoming State Museum I-25 State Visitor Center Old West Museum Paid Visitor TABLE 13 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG YEAR 8,509,874 6,675,991 6,081,291 7,124,726 7,299,160 7,810,742 9,484,925 8,841,926 9,489,561 14,578,908 3,576,556 8,186,604 8,138, ,988,243 8,508,649 7,408,588 9,385,494 8,645,255 9,064,532 10,591,240 10,135,991 12,632,745 9,595, ,312,247 3,128,430 2,824,828 3,405,966 3,462,471 3,762,421 4,814,532 4,245,190 4,298,594 9,482,928 (786,450) 3,944,158 3,907, ,791,287 3,966,538 3,039,942 4,172,395 3,873,844 3,889,533 4,589,140 4,572,266 4,210,060 4,122, ,659,680 2,855,865 2,600,051 3,053,784 3,125,994 3,348,755 4,048,857 3,738,263 4,033,411 6,289,884 1,458,230 3,501,122 3,476, ,301,304 3,661,202 3,171,448 4,043,677 3,709,422 3,884,392 4,450,356 4,293,681 5,388,166 4,100, ,673,175 1,308,821 1,191,754 1,399,191 1,430,056 1,528,491 1,851,828 1,710,322 1,845,556 2,855, ,509 1,600,795 1,590, ,964,899 1,677,296 1,451,022 1,846,151 1,694,663 1,776,138 2,066,830 1,963,567 2,458,553 1,877, ,364 72,073 72,504 69,417 90, , , , , , ,483 97, , ,884 61, ,933 99, , , , , , , ,098 66,024 73,098 70,740 73,098 70,740 73,098 73,408 71,040 73,408 71,040 73,408 71, ,408 66,304 73,408 71,040 78,368 75,840 78,368 77,562 75,060 74, ,604 31,989 35,347 44,651 51,582 58,767 60,835 59,435 52,133 52,524 35,887 31,575 45, ,462 38,871 41,332 44,936 53,033 60,781 65,644 62,660 56,929 50, $71.55 $72.36 $70.87 $73.06 $74.87 $81.63 $ $86.85 $81.24 $77.59 $74.37 $75.15 $ $76.08 $77.98 $76.47 $78.42 $82.49 $88.90 $ $93.78 $89.96 $ ,488 2,532 1,502 1,772 3,812 6,316 10,875 5,890 4,356 2,349 3,152 2,023 3, ,600 1,775 2,869 2,899 7,574 5,980 11,558 6,683 4,684 5, ,073 1,867 2,942 1,903 1, ,827 1, ,540 2,283 3,275 1,998 1,466 1, ,496 3,388 6,234 5,927 10,935 16,906 21,451 17,829 14,069 9,271 5,965 5,684 10, ,590 4,619 6,812 7,344 11,398 18,327 22,486 19,026 14,362 12, ,880 2,002 2,739 2,668 4,517 4,223 5,345 4,079 3,041 3,019 2,516 1,871 3, ,736 2,149 5,435 3,841 3,070 5,362 7,077 12,240 3,563 4, ,705 3,312 4,375 4,447 11,913 20,730 31,725 25,942 21,296 11,492 5,871 5,235 12, ,809 4,244 6,350 7,120 14,822 25,348 31,386 24,118 18,585 15, , ,593 1,773 7,351 3,701 2, , , ,574 2,032 10,740 2,866 2,331 2,

38 ITEMS Demography CHEYENNE/LARAMIE COUNTY PROFILE MOST RECENT PERIOD PREVIOUS PERIOD % IN VALUE YEAR VALUE YEAR VALUE Total Population Cheyenne¹ , , % Total Population Laramie County , , % Total Male Population , , % Total Female Population , , % % of Population Under 20 Years Old % % -2.26% % of Population 65 Years & Older % % 2.33% Median Age % % of Population White Alone (Non-Hispanic) % % -1.74% % of Population Native American Alone % % 0.00% % of Population Hispanic or Latino % % 5.08% Households County , , % Average Household Size County % Households City , , % % of Households (HH) Headed by Married Couples % % -1.38% % of HH Headed by Single Female (w/own children <18 yrs.) % % % Weather & Geography Total Area (sq. miles)¹ ,686 Total Area (sq. miles)¹¹ Cheyenne % Water Area (sq. miles) Mean Elevation (ft.) ,700 Normal Mean Temperature (F) Cheyenne % Average Annual Precipitation (inches) Cheyenne % Average Wind Speed (mph) % Crime & Law Enforcement Crimes , , % Crimes per 10,000 Persons % Homicides per 10,000 Persons % Rapes per 10,000 Persons % Robberies per 10,000 Persons % Aggravated Assaults per 10,000 Persons % Burglaries per 10,000 Persons % Larcenies & Thefts per 10,000 Persons % Motor Vehicle Thefts per 10,000 Persons % Education % of Pop. (25 yrs. & older) with High School Diploma¹ % % % % of Pop. (25 yrs. & older) with Bachelor s Degree % % 6.96% Pupil -Teacher Ratio in LCSD # % Pupil -Teacher Ratio in LCSD # % Expenditures Per Pupil in LCSD # $15, $14, % Expenditures Per Pupil in LCSD # $20, $18, % LCSD #1 Enrollment , , % LCSD #2 Enrollment % Total School Enrollments Laramie County , , % % of Students in Private Schools % % 1.27% % of Students Home-Schooled % % 4.47% ACT Average Composite Score (range 1-36) LCSD # % ACT Average Composite Score (range 1-36) LCSD # % 34

39 MOST RECENT PERIOD PREVIOUS PERIOD % ITEMS YEAR VALUE YEAR VALUE IN VALUE LCSD #1 Graduation Rate % % -5.61% LCSD #2 Graduation Rate % % -2.00% Full-time Equivalent (FTE) Enrollment at LCCC (Fall Semester) , , % Average Student Age at LCCC (Fall Semester) % Median Student Age at LCCC (Fall Semester) % 3-Year Graduation Rate at LCCC % % % 3-Year Rate of Transfer from LCCC % % 14.18% Housing Average Rent for 2-3 Bedroom House ($) 8 2Q14 $1,143 2Q13 $1, % Average Rent for 2 Bedroom Apartment ($) 2Q14 $769 2Q13 $ % Average Rent for 2-3 Bedroom Mobile Home ($) 2Q14 $809 2Q13 $ % Average Sales Price Cheyenne 2013 $200, $191, % Average Sales Price Close-in Rural 2013 $296, $285, % Laramie County s Economy Median Household Income¹ 2013 $61, $54, % Mean Household Income 2013 $72, $70, % Per Capita Personal Income ($) $51, $51, % Average Wage per Job 2013 $44, $44, % Average Annual Pay ($) $42, $41, % Employment & Labor Employment¹² , , % Unemployment Rate¹³ % % % Total Non-farm Jobs , , % % of Jobs in Farming % % -3.94% % of Jobs in Mining % 2012 N/A % of Jobs in Government % % -1.80% % of Jobs in Construction % % 10.36% % of Jobs in Manufacturing % % -0.49% % of Jobs in Trans. & Ware % % -0.70% % of Jobs in FIRE % % -0.51% % of Jobs in Retail Trade % % 0.84% % of Jobs in Wholesale % % 1.42% Workforce Demographics % of Workforce Age 16-19¹ % % % % of Workforce Age % % -6.68% % of Workforce Age % % 2.74% % of Workforce Age % % 0.17% % of Workforce Age % % 1.93% % of Workforce Age % % 9.51% % of Workforce Age 75 and over % % -9.49% % of Workforce Male % % 4.07% % of Workforce Female % % 5.16% CPI U.S. CPI % Annual Inflation Rate Cheyenne 2Q14 3.2% 2Q13 4.5% Sources: 1 U.S. Census Bureau 2 Western Regional Climate Center 3 Wyoming Division of Criminal Investigation 4 Laramie County School Districts #1 & #2 5 Wyoming Department of Education 6 Office of Institutional Analysis, University of Wyoming 7 Laramie County Community College 8 State of Wyoming, Dept. of Admin. & Info., Economic Analysis Division 9 U.S. Commerce Department, Bureau of Economic Analysis 10 U.S. Department of Labor, Bureau of Labor Statistics 11 City of Cheyenne 12 Wyoming Department of Employment, CES Data 13 Wyoming Department of Employment, LAUS Data 35

40 DATA SOURCES Automobile Registrations: Laramie County Clerk Banking Data: Cheyenne Area Banks (5) Cheyenne Area Credit Unions (9) Bankruptcies: U.S. Clerk of Bankruptcy Court Construction: City of Cheyenne Building Safety Department Laramie County Planning & Development Employment: Wyoming Department of Workforce Services Enplanements: Cheyenne Regional Airport Housing: Cheyenne Area Apartment Complexes (6) Cheyenne Board of Realtors Core Logic Human Services: Cheyenne Police Department Comea Shelter Department of Family Services Safehouse Cheyenne Regional Medical Center Taxes: Wyoming Department of Revenue Schools: Laramie County Community College Laramie County Schools, Districts 1 and 2 Private Schools (5) Tourism: Visit Cheyenne Utilities: Cheyenne Board of Public Utilities Cheyenne Light, Fuel & Power South Cheyenne Water & Sewer District Wyoming Center for Business & Economic Analysis, Inc Carey Ave., Suite 520 Cheyenne, Wyoming (307)