Post on 22-May-2020
1 Data Summary
Economic Development Strategy
Appendix I: Data Summary
2 Data Summary
DATA CAVEATS
• Multiple sources, scales, and time periods
• Connect and triangulate, don’t fixate
• This is sifted & simplified
• This is one of several City analyses going on
3 Data Summary
Business & Industry
Demo-graphics &
Diversity
Tax Base & Real Estate
Schools
4 Topic Areas
4 Data Summary
10%
11%
12%
13%
14%
15%
16%
17%
18%
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Madison MSA GDP ($m & %state)
Madison MSA
Madison MSA % of State GDP
In $,000,000s
SOURCES: Bureau of Economic Analysis
Madison has a Steadily Growing Economy
5 Data Summary
Milwaukee
Madison
Appleton
Green Bay
Rest of Wisconsin
GDP by MSA Population by MSA
15%
10%
Metro Areas Drive Wisconsin Economy
SOURCES: Bureau of Economic Analysis, Census
6 Data Summary
7.7%
10.2%
0.6% 2.1%
3.0%
4.8% 4.4%
0.0% 0.2%
-1.8% -4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
Self employed
2-9 workers
10-99 workers
100-499 workers
500+ workers
2000-2012 Change in Number of Businesses by Business Size (Employment)
Dane County
Wisconsin
SOURCES: Youreconomy.com
Dane County Outperforms Wisconsin in Business & Job Creation
7 Data Summary
317,518
250,000
260,000
270,000
280,000
290,000
300,000
310,000
320,000
330,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Total Jobs in Dane County
Dane County Outperforms Wisconsin in Business & Job Creation
SOURCES: U.S. Bureau of Labor Statistics
8 Data Summary
1.8 1.67 1.57
1.35 1.26 1.16 1.11 1.09
0 0.2 0.4 0.6 0.8
1 1.2 1.4 1.6 1.8
2
MSA 2012 – Clusters with LQs >1
SOURCES: EDA – STATSAmerica
Industry Clusters where we have Competitive Advantages
9 Data Summary
8,677 7,287
4,470 2,772
(100) (696) (869) (1,509) -4,000
-2,000
0
2,000
4,000
6,000
8,000
10,000
Innovation Cluster Growth 2001-2012 Job Creation/Loss by Cluster for MSA
SOURCES: EDA – STATSAmerica
Growing Industry Clusters
10 Data Summary
of all new jobs created in
Dane County between 2001
& 2012 were primarily due
to one company
11 Data Summary
373
21%
10%
12%
14%
16%
18%
20%
22%
0
50
100
150
200
250
300
350
400
450
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Patents Issued in Dane County (# and % State)
Dane County Patents % of Wisconsin Patents Issued in Dane County
SOURCES: U.S. Patent and Trademark Office
Madison is a wellspring for innovation and new ideas that lead to new businesses
12 Data Summary
$1,169,779
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
Top 20 Institutions for Federal Research Spending (2012)
SOURCES: National Science Foundation
UW is #3 in Federal Research
13 Data Summary
Can we do more
to leverage this
massive
investment into
economic
growth
in annual federal
research dollars
injected into our
economy
?
14 Data Summary
$1,158,989,855
$2,168,695,827
6.00%
6.50%
7.00%
7.50%
8.00%
8.50%
9.00%
9.50%
$0
$500,000,000
$1,000,000,000
$1,500,000,000
$2,000,000,000
$2,500,000,000
2005 2006 2007 2008 2009 2010 2011 2012
Exports from the Madison MSA
MSA export value Percent of State
SOURCES: U.S. International Trade Administration (ITA)
We Are an Increasingly Globally-Engaged Economy
15 Data Summary
The Madison MSA exported
$2.2 Billion of goods & services in 2012
SOURCES: U.S. International Trade Administration (ITA)
16 Data Summary
675,034
783,937 825,702
518,671
603,357 558,141
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
2001 2007 2013
Number of Passenger Boardings (Madison and the Median 100,000+ Airport)
Madison
Median
Dane County Airport is becoming more busy - Madison is an increasingly-connected
economy and growing origin and destination for business travel
SOURCES: U.S. Department of Transportation
17 Data Summary
12%
22%
14%
3% 3%
-1% -5%
0%
5%
10%
15%
20%
25%
All Airports Madison Milwaukee O'Hare Minneapolis Detroit
% Change in Airport Boardings (2001-2013)
Dane County Airport is becoming more busy - Madison is an increasingly-connected
economy and growing origin and destination for business travel
SOURCES: U.S. Department of Transportation
18 Data Summary
8%
14%
1%
76%
Madison MSA
Local
State
Federal
Private Sector
1% 3%
10%
85%
Wisconsin
SOURCES: Bureau of Labor Statistics
The Madison area is a Private Sector Driven Economy
19 Data Summary
0 1000 2000 3000 4000 5000 6000 7000 8000
0
0.5
1
1.5
2
2.5
3
Job Projections by Occupation (2010-2020 DWD)
Top 10 Growth Occupations for Dane County
Annual Growth Rate Employment Growth
SOURCES: WI Department of Workforce Development
20 Data Summary
0
1000
2000
3000
4000
5000
6000
7000
8000
0
0.5
1
1.5
2
2.5
3
SOURCES: WI Department of Workforce Development
Healthcare, technology, food, and construction are driving our job growth
21 Data Summary
Dane County as % of Wisconsin
SOURCES: Census, BLS, BEA, USPO, ITA, Census
Madison is
leading the
State’s economy
forward
22 Data Summary
Business & Industry
Demo-graphics &
Diversity
Tax Base & Real Estate
Schools
23 Data Summary
171,809
190,766
233,209
281,150
100,000
120,000
140,000
160,000
180,000
200,000
220,000
240,000
260,000
280,000
300,000
19
70
19
75
19
80
19
85
19
90
19
95
20
00
20
05
20
10
20
15
20
20
20
25
20
30
20
35
20
40
Madison Population (1970-2040)
SOURCES: Census, Wisconsin DOA projections
Madison’s economy has grown steadily over the last 30 years and growth is projected to continue
24 Data Summary
1970, 59%
2000, 49%
2015, 47% 2040, 46%
30%
35%
40%
45%
50%
55%
60%
65%
Madison and Non-Madison - % of Dane County Population
Madison
Rest of County
SOURCES: Census, Wisconsin DOA projections
Madison is decreasing as a percentage of Dane County’s total population
25 Data Summary SOURCES: Census 2000 and 2010 DC
Madison leads the State in attracting young professionals to
Wisconsin
26 Data Summary
Madison’s Future is Much More Diverse Than its Past
0.7%
3.3%
5.6%
3.6%
1.7%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
White, Non-Hispanic
African American
Hispanic/Latino Asian Other Race or Multi-Racial
2000-2012 Annual Growth Rate
SOURCES: 2012 Census ACS 3-yr Est.
27 Data Summary SOURCES: 2012 Census ACS 3-yr Est.
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
U.S. Dane County Madison
Median Household Income (2012 ACS)
White
African American
Hispanic/ Latino
Madison has deep racial disparities in income
28 Data Summary SOURCES: Census, 2012 ACS 3-yr EST.
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
little kid (0-11) teen (12-18) young adult (18-34)
middle age (45-65)
senior (65+)
Poverty by Age/Race/Ethnicity (2012 ACS)
White African American Asian Hispanic/Latino
Madison’s youth of color suffer from high poverty rates
29 Data Summary
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
2008 2009 2010 2011 2012
African American Unemployment Rate
U.S. Madison
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
2008 2009 2010 2011 2012
White Unemployment Rate
U.S. Madison
SOURCES: Census, 2012 ACS 3-yr EST.
30 Data Summary
Business & Industry
Demo-graphics &
Diversity
Tax Base & Real Estate
Schools
31 Data Summary
50% 47%
15% 15%
17% 17%
17% 20%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2000 2012
City of Madison Housing Units by Units in Building (2000 DC, 2012 ACS)
20+ units
5-20 units
2-5 units
1 unit
SOURCES: Census, 2012 ACS 3-yr EST.
More and more of Madison’s housing is within multi-family buildings
32 Data Summary SOURCES: Madison Assessor’s Office
Madison’s home values have recovered from the recession and are rising
$247,974 $254,593
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
Average Single Family Home Valuation
33 Data Summary SOURCES: Madison Assessor’s Office
0
100
200
300
400
500
600
700
800
New Construction Added Value in $m
Single Family Homes
Condos & 2-7 Unit Apartments
Commercial & 8-unit+ apartments
Madison’s post-recession real estate market is driven by new apartment building construction
34 Data Summary
1%
-11%
-5%
2%
-3% -1%
-4%
4% 7%
24%
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
Post-Recession Percentage Change in Assessed Value by Housing Type (2010-2014)
Madison’s post-recession real estate market is driven by new apartment building construction
SOURCES: Madison Assessor’s Office
35 Data Summary
$90 $62 $131
$251 $92 $96
$91
$141
0
50
100
150
200
250
300
350
400
450
2010 2011 2012 2013
Total Value of New Construction ($m)
Commercial (including 8-unit+ apartments) Residential
Madison’s post-recession real estate market is driven by new apartment building construction
SOURCES: Madison Assessor’s Office
36 Data Summary
Business & Industry
Demo-graphics &
Diversity
Tax Base & Real Estate
Schools
37 Data Summary
11% 11% 9%
23% 22% 21%
83%
60% 63%
76% 72%
83%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
Madison Beloit Janesville Middleton Sun Prairie Verona
Advanced Placement Testing for HS (2011/12 School Year)
Students taking AP exams % who pass
SOURCES: Wisconsin Dept. of Public Instruction
Madison’s schools perform well and are competitive with surrounding communities
38 Data Summary
Average ACT Scores:
Middleton: 25 Sun Prairie: 23 Verona: 23 State: 22 U.S: 21
Madison: 24
SOURCES: Wisconsin Dept. of Public Instruction
Madison’s schools perform well and are competitive with surrounding communities
39 Data Summary
56%
7% 2%
35%
Post Graduation Plans for MMSD Seniors (2012)
4-Year College
Tech College
Job, Military, Job Training
Misc.
SOURCES: Wisconsin Dept. of Public Instruction
Many of Madison’s graduating HS seniors don’t have a plan for
their future – we need more “pathways”
40 Data Summary
56% 53%
82%
43% 59%
7% 10%
9%
23%
27% 2% 6%
7%
4%
4% 35% 30%
2%
29% 10%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
100%
Post Graduation Plans
Misc.
Job, Military, Job Training
Tech College
4-Year College
SOURCES: Wisconsin Dept. of Public Instruction
Many of Madison’s graduating HS seniors don’t have a plan for
their future – we need more “pathways”
41 Data Summary
66%
38% 48%
63%
8%
10% 7%
5%
27%
51% 45% 29%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Asian African American
Hispanic/Latino White
Post Graduation Plans for MMSD 2011/12 HS Graduates
% Misc.
Job, Military, or Job Training
% Voc/Tech College
% 4-Year College
Madison’s young people of color are particularly likely to
graduate from high school without a plan for their future
42 Data Summary
ASSETS & OPPORTUNITIES
1. Madison is an “Economic Engine” for Wisconsin – driving the state forward in job growth, business growth, and innovation
2. Madison’s economy is becoming more private-sector driven – most new jobs are in small businesses
3. We can do more to tap the UW as a driver of economic growth
4. Our high-growth sectors and future opportunities will come from intersections of biotechnology, information technology, food systems, and healthcare
5. Madison’s economy is changing rapidly
CONCERNS & CHALLENGES
1. We need a more diverse and growing tax base with development throughout the city
2. We need to monitor and support perimeter neighborhoods
3. The region’s economy has become very reliant of EPIC for net new jobs growth
4. For our long term local economy to succeed, more of Madison’s young people of color need to find pathways into the workforce
5. Madison needs to address racial disparities in income and opportunity
10 TAKEAWAYS FROM THE DATA