04-12-2004 EDA MIN - Laserfiche WebLink

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Economic Development Authority Minutes Page 2 April 12, 2003 Commission Tveite arrived. Assistant Director of Economic Development Heidi Steinmetz presented the staff report, giving highlights of the marketing report. 5.1 Labor Market Presentation from Cameron Macht MN De t. of Em to ment & Economic Development Director of Economic Development Catherine Mehelich introduced Cameron Macht, Regional Labor Analysis with MN Department of Employment & Economic Development, who presented his findings in regards to statistical labor market information comparing Sherburne County and the City of Elk River with other areas. Some of his findings: • Elk River has an educated, affordable, growing workforce. • Businesses will pay more for higher quality workers, but would rather have equivalently skilled workers at lower wages. • Sherburne County is the 12`h largest in the state, at population of 74,667. • Elk River is the largest city in the county, at 18,055 people. • Residents in the 25-44 year-old age group (prime working years) expanded 51.5 percent in Sherburne County and 40.7 percent in Elk River; only 3.6 percem in Minnesota. • Sherburne County is projected to be the second fastest growing county in the state (behind Scott County). • The fastest growing population portions are from 50 years and over. • The number of residents both living and working in Elk River was 2,826. Otsego sent 570 workers to Elk River; Big Lake Township sent 520 workers; Ramsey sent 329 workers; and Livonia sent 321. • Workers are willing to ask $1.73 less per hour to drop below half-hour commutes. • Central Minnesota continues to grow -the City of Elk River added 682 net new jobs from Quarter 1 of 2001 to Quarter 1 of 2003. • Elk River has total jobs in industries of 10,070 with Elk River adding the most jobs in Central Minnesota (+682 jobs). • Central Minnesota is projected to be the fastest growing region in MN between Years 2000 and 2010. Manufacturing specialists are holding steady or declining slightly with growth in the areas of eating/drinking establishments, schools, hospitals, recreational services, and grocery stores. President Gongoll asked if any company can request information from Mr. Macht as a source. Mr. Macht said that they can either go through the city's staff or obtain the information directly from him. Commissioner Klinzing asked if staff has been analyzing this information. Ms. Mehelich stated that staff has been using this information for the city's marketing campaign.