2015 Trends Report

T R EN D S R EPO RT

FALL 2015 | VOLUME 3

TARGET NEWCOMERS BEFORE SHOPPING LOYALTIES DEVELOP

Hear from a current sponsor...

“The Champaign Park District strives to serve all members of the community through programming, events, and open spaces.

It is especially important to reach out to new members of the Champaign area who may not know the vast offerings we provide! The Community Welcome Service helps us expand our reach and better serve C-U.” - Champaign Park District Become a sponsor of the Community Welcome Service program through the Champaign County Chamber of Commerce. Promote yourself to new Champaign County residents and receive essential demographic data that can be used for strategic and targeted marketing for your business. These residents receive gift boxes within a few weeks of arrival with information about the area, as well as coupons, free gifts and brochures provided by the program’s sponsors.

HOW DO I GET SIGNED UP? To take advantage of this program, contact Karly Combest at the Chamber, 217.359.1791 or KarlyC@champaigncounty.org.

Dear Chamber Members, We are pleased to provide your company with the third annual Trends Report. This publication is designed to provide our members with information and data that can be used in your daily business decision making.

One of the biggest challenges facing all business owners and managers is making the right decisions to grow your companies; expand your products and/or improve your services.

Using data, understanding trends, understanding the local marketplace and local demographics can be helpful to your company as you strategically plan for the future of your business.

Please take time to review the information provided. Our goal is to provide our members with data on an ongoing basis to help your company. Please take time to reach out to us and let us know if we are we missing information that would be invaluable to your particular industry?

Table of Contents: Economy........................................4 Income & Poverty......................5 Workforce......................................6 Education......................................7 Population.................................8-9 Demographics..........................10 Economic Development......11 Real Estate..................................12 Quick Facts.................................13 Top Employers..........................13 Tourism.........................................14 Economic Gardening............15 Transportation..........................16 Agribusiness..............................17 Recognitions..............................18

We want to know what you need in order to help support those gut-made decisions – backed with data. Your feedback is encouraged to LauraW@champaigncounty. org.

We hope you find the Trends Publication helpful to your company.

Sincerely,

Laura Weis President & CEO

This publication was compiled by Megan Vasiliadis, intern to the Champaign County Chamber of Commerce.

ECONOMY Sources: Sperling’s Best Places (2013), City of Champaign (2013), Tax-Rates.org (2014), Bureau of Economic Analysis (2012)

gn’s larg pai

ce

$

ur

r

ev

Property Tax 2 percent Sales Tax State + County + City

est

Cham

CHAMPAIGN COUNTY TAXES

enue so

Urbana Champaign Rantoul Ogden Savoy Saint Joseph All other cities

6.25 6.25 6.25 6.25 6.25 6.25 6.25

1.25 1.25 1.25 1.25 1.25 1.25 1.25

1.50 1.50 1.25 1.00 0.50 0.50 -------

Total 9.00 9.00 8.75 8.50 8.00 8.00 7.50

COST OF LIVING: SURROUNDING COUNTIES 2014 *The United States is the index. It serves as a reference point.

United States: $1.00

Champaign: $0.91

McLean: $0.96

Peoria: $0.87

4

Vermilion: $0.83

*WHAT THIS MEANS: Based off one dollar ($1.00) of what an average American spends on goods and services, The Cost of Living Index tells how much that same dollar will get you in your area. Say a gallon of milk costs $4.00 on average in America, that same gallon of milk will cost $3.64 based off the Cost on Living Index in Champaign County.

DuPage: $1.18

Income & poverty Sources: US Census (2008-2012), Bureau of Labor Statistics (2013), US Department of Housing and Urban Development (2014)

QUICK FACTS *Income measured by annual mean wage

$25,713

Per Capita Income

$45,808

Median Household Income

INCOME BY OCCUPATION* OCCUPATION

2013

2014

Business & Finance

$62,990

$62,770

Education & Training

$77,590

$55,580

Architecture & Engineering

$77,290

$72,320

Healthcare Practitioners

$72,070

$61,970

Life, Physical, & Social Sciences

$69,580

$63,650

Computers & Mathematics

$77,290

$75,500

Construction & Extraction

$55,640

$56,180

Protective Services

$54,730

$54,730

Management

$92,030

$90,780

Arts, Entertainment, Sports, & Media

$48,050

$46,830

Installation, Maintenance & Repair

$41,640

$43,810

Community & Social Services

$38,330

$44,100

Office & Administrative Support

$35,690

$33,130

Production

$35,630

$34,920

Healthcare Support

$33,720

$29,430

Sales

$33,190

$33,400

Transportation

$32,110

$32,720

Building Cleaning & Maintenance

$28,400

$27,190

Personal Care & Services

$25,650

$25,240

5

Workforce Sources: US Census Bureau, OnTheMap Application and LEHD Origin-Destination Employment Statistics, US Chamber of Commerce

CHAMPAIGN COUNTY STATISTICS 2014

201 0

r Force

Labo

2014

in nd Live Work a aign p m a Ch

rs

mute e Com

Outsid

3

106,39

5 102,21 2006 9 tract 100,96 2000 - tatistical abs s **From

Outside Commuters:

2014 32,800 rtups Sta

158

32,800

54,489

2014

ities

portun

Job Op

87,367

WORKFORCE READINESS For every job that requires a master’s degree, there are

two professional jobs requiring a university degree, and seven jobs requiring a oneyear certificate or a

Nationally, in 2012 an estimated 3 million jobs went unfilled due to skills gap. By 2018 it is expected to be 7 million jobs.

An increase in skilled workers would reduce unemployment 2-3

percent.

two-year degree.

*WHAT THIS MEANS: Comparing these numbers to “Population” (pgs 8 and 9), there is a direct correlation between jobs and workforce readiness to population growth. A strong economy and skilled workforce lead directly to more population in Champaign County.

6

Education Sources: US Census Bureau 2014 & 2010; 2013-2014 Illinois At-A-Glance Report Card

GRADUATION RATES 92%

93%

2010

41%

86%

40%

2014

Vermilion

McLean

18%

15%

Ford

DeWitt

94%

93%

42%

42%

90% 23%

13%

Champaign

90%

87%

85%

92% 27%

14%

Percentage of high school graduates =

92%

87%

Piatt

17%

16%

Percentage of Bachelor’s degree or higher =

STUDENT DEMOGRAPHIC BY DISTRICT (2013-2014)

White Asian

NUMBER OF STUDENTS (2013-2014)

9,439

2+ Races

Champaign

Mahomet

Hispanic Black

4,077

Urbana School District 116

1,731

Tolono CUSD 7

1,386 St. Joseph School District 169

2,421 Rantoul School District 137

Mahomet-Seymour School District 3

Champaign Unit 4

2,980

Rantoul

St. Joseph

Tolono

Urbana

7

Source: US Census Bureau 2011-2014

POPULATION BY COUNTY 2014

2013

2012

2011

Champaign

207,133

204,897

203,276

202,405

DeWitt

16,284

16,420

16,463

16,528

Douglas

19,889

19,887

19,853

19,889

Ford

13,688

13,832

14,008

13,969

McLean

174,061

174,647

172,281

170,739

Piatt

16,431

16,433

16,504

16,681

POPULATION PERCENT CHANGE 2010 - 2014

+3%

-1.7%

Champaign DeWitt

- 0.5%

-2.8%

+2.6%

-1.8%

Douglas

Ford

McLean

Piatt

*WHAT THIS MEANS: While many communities in Central Illinois and statewide have seen population decreasing, more residents are moving to and staying in Champaign County. In fact, according the NerdWallet, Champaign County is the third fastest growing community in Illinois.

8

Population Source: University of Illinois at Urbana-Champaign Division of Management Information

CHAMPAIGN COUNTY STUDENTS AT UIUC 5000

5,000

4,014

4000

4,000

3,164

2,593

3000

3,000

2,775

2,567

2000

2,000

1000

1,000

0

2001

2001-2013

2004

2007

2010

2013

*WHAT THIS MEANS: Since the peak in 2004, students who are from Champaign County have been on a sharp decline at the University of Illinois over the past 10 years down to a near all time low.

UIUC TOTAL STUDENT POPULATION 50000

50,000

39,120

40,000 40000

41,497

40,239 40,964

39,786 38,454

30,000

30000

2005

2007

2009

2011

2013

2015

9

Demographics Source: US Census Bureau 2014

POLITICAL ASSOCIATION

27%

Democrat Republican

58% 15

%

Independent

RACE

13%

Hispanic Black

10% 7

White

%

70%

Asian

AGE

10% 6%

65

19%

Under 5 Under 18 18 - 65

%

Over 65

SEX

Women Men

50%

10

50%

2010 DEMOGRAPHICS Political association: Republican - 26.5% Democrat- 14% Independent - 59.5% Race: White - 75% Black - 12 % Hispanic - 4% Asian - 9 % Sex: Women - 50% Men - 50%

Economic development Source: The Site Selectors Guild 2015 Membership Survey

FOREIGN DIRECT INVESTMENT (FDI) LOCATION DRIVERS IN US: attributes that best indicate an area’s ability to provide and sustain a skilled and sufficient workforce attributes Ability to Develop Skills Locallythat best indicate an area’s ability to provide and sustain a skilled and sufficient workforce Quality of Local Community/Vo-Tech Presence of Other Companies with Similar Skill Sets Ability to Attract Talent from Outside the Local Market Living Conditions that attract and retain talent Diversity of Companies and Job Training Programs and Incentives

*Competitive strengths expected to drive domestic and FDI location investment to the US

Quality of Local Universities Salary and Wages Quality of Local Primary Education

0

10

20

30

40

50

60

0

10

20

30

40

50

60

Competitive stregnths expcted to drive domestic and FDI location investment to the US

ATTRACTIVE Competitive COMMUNITY WORKFORCE ATTRIBUTES: stregnths expcted to drive domestic and FDI location investment to the US Market Access/Logistics Availability of Skills/Technical Talent Energy Costs Total Operating Costs Low Business Risk IP and Legal Protection Quality Infrastructure Tax Climate Real Estate

*Attributes that best indicate an area’s ability to provide and sustain a skilled and sufficient workforce

Labor Costs State and Local Incentives Regulatory Environment Living Conditions Business Services and Amenities

0

10

20

30

40

50

60

70

80

0

10

20

30

40

50

60

70

80

11

Real Estate Sources: Champaign County Association of Realtors (2013-2014), Realty Trac (2013-2014)

CHAMPAIGN COUNTY HOUSING SALES

AVERAGE MEDIAN SALES PRICE

HOMES SOLD ON AVERAGE

*ILLINOIS FORECASTS

2013

2014

2015*

2,933

2,998

2,537 - 2,863

2013

2014

2015*

$130,000

$128,750

$127,000

*WHAT THIS MEANS: Champaign County’s housing market has been on a steady incline on par with the rest of the nation recovering from the 2008 housing bubble crash. While 2015 is projected to see slightly fewer houses sold, prices and listings are up 30 percent or nearly $40,000 per home sold.

CHAMPAIGN COUNTY FORECLOSURES 2014 - 2015 40

35 30 25 20 15 10 5

12

0

July ‘14

Sept. ‘14

Nov. ‘14

Jan ‘15

March ‘15

May ‘15

Champaign County Quick facts Sources: US Census Bureau 2014, The News-Gazette

16.5%

of people fall in the 20-24 age bracket

29.7

is the overall median age, the youngest in all 102 Illinois counties

66%

of people over the age of 85 are women

Top Chamber employers University of Illinois at Urbana-Champaign

19,844

Carle Foundation

4,500

Carle Physician Group

1,920

Unit 4 School District

1,280

Kraft Foods Inc.

1,203

Presence Covenant Medical Center

1,000

Champaign County

825

Christie Clinic

771

Urbana School District #116

675

Plastipak Packaging

650

13

Tourism Source: Visit Champaign County

Generates Payroll

Increases spending

Illinois travel & tourism saves the average household on taxes

Tourism supports local jobs and puts money into the pockets of residents

Visitors create millions in direct visitor spending

2014

$1,300 saved in taxes

2,570 jobs created

$323.5M in direct visitor spending

2013

$1,300 saved in taxes

2,520 jobs created

$306.6M in direct visitor spending

2012

$1,100 saved in taxes

2,500 jobs created

$298.5M in direct visitor spending

2011

$1,100 saved in taxes

2,460 jobs created

$283M in direct visitor spending

Saves taxes

In 2014, Champaign County’s Visitor industry brought

14

$5.3 million

In local tax revenue.

3343

3142

Economic gardening

1323

2,000

-536

0

-4312

-2,000 Sources: Edward Lowe Foundation, YourEconomy.org -4,000 TOTAL STARTUP ESTABLISHMENTS: WHAT IS ECONOMIC GARDENING? 2009 2010 2011 2012 2013

• Helps existing companies in the community grow larger • Offers those companies critical strategic information that is customized to their needs • It is about leveraging research using sophisticated business intelligence tools and databases that growth companies either aren’t aware of or cannot afford

in Champaign County

3593 1077

770

865

812

Net: 53 new 2010

2009

2013

2012

2011

STARTUPS JOB GROWTH: WHY IS IT IMPORTANT? Between 1995 and 2012, second-stage companies represented only

11.6 percent

of U.S. establishments, but generated nearly

34.5 percent of jobs

in Champaign County

0

according to YourEconomy.org.

BOTTOM LINE

-536 -536

3142 3142 -4312 -4312

1323 1323 Net: 1819 new

-2,000

-4000 -4,000

and about

34.5 percent of sales

3343 3343

3000 2,000

2009

20102010 2011

2009

2011

2012

2012

2013 2013

NEW STARTUPS TO JOBS CREATED: 2.53

1.69

2009

2.29

2010

3.80

2011

7.66

2012

Supporting these growth entrepreneurs means positive payoffs when it comes to economic growth and prosperity. Economic Gardening also provides a key balance between company attraction and small business support, and growing from within and supporting existing second-stage businesses.

2013

15

Transportation Sources: Willard Airport, CUMTD, bestplaces.net WALK - 8.74%

WORK AT HOME - 4.87%

COMMUTE TIME National Average: 25 minutes BIKE - 2.52% TIME

MIN

SEC

COMMUTE MODE

MASS TRANSIT - 6.1%

CAR POOL - 9.43%

AUTO (ALONE) - 68.34%

ANNUAL FLIGHTS out of Champaign-Urbana Willard Airport 2008

5,235

2010

2015

*WHAT THIS MEANS:

18 16

Transportation and infrastructure are vital to a robust economy. Locally, our transportation system has seen exponential growth, with mass transit ridership increasing every year the past five years and our commute time being well below the national average. In fact, according to Obrella.com, the City of Champaign is the 7th best commuter city in Illinois and Urbana is the 8th best commuter city in Illinois.

4,614

12000000

4,664 9000000

20C-U MTD RIDERSHIP 15000000 RIDES PER FISCAL YEAR

2012

6,813

15000000

13,551,784

13,309,332

12000000

9000000

12,028,172 11,107,631 10,134,194

FY10

10,549120

FY11

FY12

FY13

FY14

FY15

Agribusiness Sources: US Census of Agriculture; Illinois Society of Professional Farm Managers & Rural Appraisers

LAND VALUES SUMMARY BY CLASS 12000

$12,000

Excellent

10000 $10,000

Good

8000 $8,000

Average

$6,000 6000

Fair

$4,000

4000

2010

Farmland Classification

2011

2012

Total Value per Acre

2013

Change

2014

Avg. Rent Cost per Acre

from prior yr.

Change from prior yr.

Excellent

$10,400 - $12,800

5-10%

$360

10%

Good

$7,500 - $10,200

5-10%

$320

10%

Average

$6,500 - $8,200

5-10%

$275

FARMS

.F

2002: 1,285 2007: 1,389 2012: 1,312

ARM SIZE

*WHAT THIS MEANS:

in acres

2002: 449 2007: 396 2012: 470

ES

M A R K ET V in dollars

UE AL

T.

2002: 132,373

me t n

2012: 376,927

a

ch

ine

ip

of m

M A R K ET V in dollars

2007: 176,444

Agriculture is a thriving industry in Champaign County with land values on a steady incline while farm sizes are growing and yields are increasing.

In fact, according to the USDA, corn and soybean yields in Illinois are the highest ever on record.

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2002: 130,928

sold

gr of a

ic

2007: 224,235 2012: 323,295

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2014-2015 Recognitions 32nd: ranked as one of the best cities for Black entrepreneurs (ChampaignUrbana) GoodCall 15th: university degrees that are most likely to land you a job in Silicon Valley (University of Illinois at Urbana-Champaign) Business Insider 25th: 2015 Best Places in the U.S. for EMTs and Paramedics, out of 750 total cities assessed (Champaign-Urbana) GoodCall 6th: among top community colleges in Illinois for student success rates (Parkland College) Reboot Illinois

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