Summit County, CO Emsi Q4 2018 Data Set www.economicmodeling.com
Contents. Economy........ Overview......................................................................................... 1... Historic.......&.. Projected......... Trends............................................................................... 3... Popula on......... Characteris cs........................................................................................ 7... Industry....... Characteris cs.......................................................................................... 9... Business........ Characteris cs........................................................................................ 15... Workforce........... Characteris cs...................................................................................... 17... Educa onal........... Pipeline...................................................................................... 24... Emsi Q4 2018 Data Set www.economicmodeling.com
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 2018. 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 23,562 116.5 $1.98B $2.01B $2.18B State 5,688,190 3,126,240 2,986,351 110.7 $340.73B $236.94B $289.10B Emsi Q4 2018 Data Set www.economicmodeling.com 1
Economy Overview - Cont. 2018 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 Q4 2018 Data Set www.economicmodeling.com 2
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 2013 28,657 2014 29,188 2015 29,854 2016 30,334 2017 30,587 2018 31,071 2019 31,456 2020 31,808 2021 32,129 2022 32,421 2023 32,685 Emsi Q4 2018 Data Set www.economicmodeling.com 3
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 2013 20,244 2014 21,350 2015 22,416 2016 22,930 2017 23,452 2018 23,562 2019 24,195 2020 24,737 2021 25,212 2022 25,645 2023 25,950 Emsi Q4 2018 Data Set www.economicmodeling.com 4
Historic & Projected Trends - Cont. Labor Force Par cipa on Rate Trends Timeframe Labor Force Par cipa on Rate 2013 78.71% 2014 79.92% 2015 79.74% 2016 80.68% 2017 83.38% January - April 2018 91.79% May 2018 71.98% June 2018 79.30% July 2018 80.95% Emsi Q4 2018 Data Set www.economicmodeling.com 5
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 2013 5.08% 2014 3.39% 2015 2.55% 2016 2.08% 2017 1.89% January - April 2018 1.65% May 2018 2.62% June 2018 2.35% July 2018 2.08% Emsi Q4 2018 Data Set www.economicmodeling.com 6
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. 1,193 1.67/1,000 25.19/1,000 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 25.19 property crimes per 1,000 people. The na onal rate is 24.21 per 1,000 people. Emsi Q4 2018 Data Set www.economicmodeling.com 7
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 80424 Breckenridge, CO (in Su 7,759 80443 Frisco, CO (in Summit c 6,709 80435 Dillon, CO (in Summit c 4,992 80498 Silverthorne, CO (in Sum 4,027 80497 Silverthorne, CO (in Sum 75 80424 Breckenridge, CO (in Su 4,656 80435 Dillon, CO (in Summit c 4,277 80498 Silverthorne, CO (in Sum 2,626 80443 Frisco, CO (in Summit c 1,936 80497 Silverthorne, CO (in Sum 621 Emsi Q4 2018 Data Set www.economicmodeling.com 8
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 Q4 2018 Data Set www.economicmodeling.com 9
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 0 200 400 600 Emsi Q4 2018 Data Set www.economicmodeling.com 10
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 0.00 1.00 2.00 3.00 4.00 Emsi Q4 2018 Data Set www.economicmodeling.com 11
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 Q4 2018 Data Set www.economicmodeling.com 12
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 Q4 2018 Data Set www.economicmodeling.com 13
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 7,105 746 +12% 3.51 $33,842 $390.54M Retail Trade 2,671 3,049 378 +14% 1.27 $36,613 $191.71M Government 2,507 2,761 254 +10% 0.78 $55,076 $164.63M Arts, Entertainment, and Recrea on 1,395 1,694 299 +21% 4.16 $31,415 $70.84M Construc on 1,316 1,626 310 +24% 1.26 $56,561 $142.01M Health Care and Social Assistance 1,143 1,433 290 +25% 0.48 $62,961 $106.43M Real Estate and Rental and Leasing 1,089 1,336 247 +23% 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 1,058 260 +33% 0.72 $37,583 $58.52M 861 944 83 +10% 0.62 $69,707 $101.02M 634 766 132 +21% 0.68 $33,838 $36.44M Transporta on and Warehousing 325 378 53 +16% 0.46 $50,401 $26.76M Finance and Insurance 308 301-7 -2% 0.32 $91,511 $64.19M Educa onal Services 200 272 72 +36% 0.44 $45,924 $14.10M Wholesale Trade 182 207 25 +14% 0.24 $95,467 $55.78M Manufacturing 97 205 108 +111% 0.11 $55,158 $55.46M Informa on 145 198 53 +37% 0.46 $65,006 $45.56M Mining, Quarrying, and Oil and Gas Extrac on 111 116 5 +5% 1.22 $68,670 $24.44M U li es 58 60 2 +3% 0.73 $126,466 $20.17M Agriculture, Forestry, Fishing and Hun ng Management of Companies and Enterprises 26 28 2 +8% 0.10 $36,555 $3.61M 18 26 8 +44% 0.08 $114,451 $3.42M Emsi Q4 2018 Data Set www.economicmodeling.com 14
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 Q4 2018 Data Set www.economicmodeling.com 15
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 Q4 2018 Data Set www.economicmodeling.com 16
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 Q4 2018 Data Set www.economicmodeling.com 17
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 0 100 200 300 400 Emsi Q4 2018 Data Set www.economicmodeling.com 18
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 0.00 1.00 2.00 Emsi Q4 2018 Data Set www.economicmodeling.com 19
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 Q4 2018 Data Set www.economicmodeling.com 20
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 0 100 200 300 Emsi Q4 2018 Data Set www.economicmodeling.com 21
Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec 2017 - Nov 2018 Unique Average Monthly Pos ngs Food Prepara on and Serving Related 3,468 3,907 439 +13% 1.98 $13.51 237 Sales and Related 2,922 3,239 317 +11% 1.38 $18.06 390 Office and Administra ve Support Building and Grounds Cleaning and Maintenance Construc on and Extrac on Installa on, Maintenance, and Repair 2,617 2,953 336 +13% 0.85 $18.49 376 1,989 2,208 219 +11% 2.54 $14.98 150 1,352 1,705 353 +26% 1.59 $21.82 21 1,050 1,291 241 +23% 1.40 $22.32 128 Management 874 1,028 154 +18% 0.78 $41.69 89 Personal Care and Service Transporta on and Material Moving Business and Financial Opera ons Educa on, Training, and Library Healthcare Prac oners and Technical 799 972 173 +22% 0.96 $14.42 131 790 961 171 +22% 0.61 $19.22 237 737 865 128 +17% 0.71 $32.24 35 764 859 95 +12% 0.64 $24.00 59 610 767 157 +26% 0.59 $39.46 135 Protec ve Service 449 529 80 +18% 0.99 $22.68 28 Arts, Design, Entertainment, Sports, and Media 442 519 77 +17% 1.20 $20.19 39 Produc on 365 500 135 +37% 0.36 $20.23 20 Healthcare Support 214 286 72 +34% 0.45 $17.51 23 Emsi Q4 2018 Data Set www.economicmodeling.com 22
Workforce Characteris cs - Cont. Occupa on 2013 Jobs 2018 Jobs Change in Jobs % Change in Jobs 2018 LQ 2017 Avg. Hourly Earnings Dec 2017 - Nov 2018 Unique Average Monthly Pos ngs Community and Social Service Computer and Mathema cal Architecture and Engineering Life, Physical, and Social Science 166 220 54 +33% 0.56 $25.90 18 175 219 44 +25% 0.32 $36.60 17 164 197 33 +20% 0.50 $33.43 6 124 137 13 +10% 0.72 $28.88 7 Legal 99 103 4 +4% 0.53 $45.52 3 Farming, Fishing, and Forestry 43 63 20 +47% 0.35 $16.66 1 Military-only 31 36 5 +16% 0.29 $16.51 0 Emsi Q4 2018 Data Set www.economicmodeling.com 23
Educa onal Pipeline Over the last 5 years, no schools in Summit County, CO produced graduates. Emsi Q4 2018 Data Set www.economicmodeling.com 24