Lee s Summit EDC May 28, 2015
May You Live in Interesting Times
Technology Talent Quality of Life
Technology Getting More Done With Less 10% U.S. GDP and Employment Performance % Change Since 2007 8% 6% 4% 2% 0% -2% -4% -6% -8% 2008 2009 2010 2011 2012 2013 2014 GDP Emp Source: Bureau of Economic Analysis and Bureau of Labor Statistics
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
Industry Specialization Kansas City Metro Specialization by Location Quotient, 2013 Source: EMSI Industry Concentrations
Growth or Decline Kansas City Metro Change in Employment by Industry Specializations, 2001 2013 Source: EMSI Industry Concentrations
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% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 US KC MSA Source: Bureau of Labor Statistics
Source: Bureau of Labor Statistics KC Turning a Corner?
Voting with their feet. Lee s Summit population has doubled since 1990. (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
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% U15 15-24 25-34 35-44 45-54 55-64 65+ Lee's Summit KC MSA
Population by Age Lee's Summit Population by Age 9000 8000 7000 6000 5000 4000 3000 2000 1000 0 0-4 5-9 10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79 80-84 85+ 2010 2020
Older households spend about as much as younger households, on average. Based on national data. Source: Bureau of Labor Statistics Consumer Expenditure Survey (CEX).
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).
Change in Young and Educated* 2005-2013 10,000 8,000 8,436 6,000 4,000 4,593 2,000-1,338 941 (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
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
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
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
Lee s Summit Pull Factors - 2014 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 $ 1,848 1.13 521 Lumber $ 41,081,657 $ 438 $ 2,492,928,535 $ 411 1.06 541 Grocery Stores $ 212,487,416 $ 2,264 $ 8,780,610,159 $ 1,448 1.56 525 Hardware Stores $ 16,846,291 $ 179 $ 825,894,036 $ 136 1.32 551 Motor Vehicle Dealers $ 7,852,954 $ 84 $ 484,016,948 $ 80 1.05 581 Eating and Drinking Places $ 161,308,109 $ 1,719 $ 9,470,606,162 $ 1,562 1.10 526 Retail Nurseries $ 9,132,857 $ 97 $ 416,033,993 $ 69 1.42 701 Hotels, Motels and Tourist Courts $ 8,117,577 $ 86 $ 1,543,292,152 $ 255 0.34 TOTAL $ 1,364,794,368 $ 14,540 $ 82,229,099,423 $ 13,561 1.07
Local Sector Traded Sector
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 1,055 989 601 535 493 394 189 17 0 3,418 3,737 5,462 6,583 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000
Change in Employment by Industry 2002-2011 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 -907-75 -236-242 -338 1,228 958 843 827 550 436 399 357 267 240 227 115 84 4 4,677-2000 -1000 0 1000 2000 3000 4000 5000 Traded Sector
Commuting Patterns 2002
2011 Commuting Pattern
Where Lee s Summit Residents Work
Where Lee s Summit Workers Live
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.