Economy - Background Information

Appendix A
Background Information
Economy
INTRODUCTION
St. Charles County enjoys the status of having the fastest growing economy in the State
of Missouri. The county’s economic share in 2006 accounted for 6.1 percent of the
state’s total economy. The only other two counties with a larger share are St. Louis
County (20.2percent) and Jackson County (11.6percent). Each of these jurisdictions has
a substantially larger population base.
Between 2000 and 2007 both the labor force and employment by county residents have
increased very substantially. Those employed in this period increased by more than
17,000. Between 2000 and 2005 those employed within St. Charles County increased by
22.8 percent. While employment has increased over the last ten years, the largest private
employers have shifted from manufacturing to finance, entertainment, and service type
employers.
With a 2006 estimated median family income of $75,182, St. Charles County ranked
highest in the state. Platte County ranked second highest with a median family income of
$74,678.
ECONOMIC INDICATORS
LABOR FORCE
In 2007 the average annual labor force for St. Charles County was estimated at 189,810
according to data released by the Missouri Economic Research and Information Center.
Of this total an estimated average of 182,051 or 95.9 percent were employed as shown in
Table I. The unemployed were estimated at 7,759 resulting in an unemployment rate of
4.1 percent. Since 2000 the labor force in the county has increased by 21,120 while those
employed over the
same time period
increased by
17,378. The years
of 2000, 2001,
2002, 2004 and
2006 produced
more than 3,000
new employed
positions on an
annual basis.
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.99
Appendix A
Background Information
Economy
PLACE OF WORK
The 2006 American Community Survey estimated that 48.9 percent of employed
residents worked within St. Charles County and 49.7 percent worked outside the county
of residence. An additional estimated 1.4 percent was employed outside of the State of
Missouri. In 1996 a study conducted by the Paragon Decisions Resources estimated that
approximately 70 percent of the county’s workforce commuted outside St. Charles
County to work. The growth of employment within St. Charles County over the last ten
years has significantly altered travel to work destinations. The trend for increasing
employment opportunities within the county for area residents has a significant impact on
land use planning.
AVERAGE COUNTY WAGE
The average annual wage in St. Charles County during the 2006 reporting period for the
Missouri Department of Economic Development was $36,152. This average annual wage
is almost 22.8 per cent higher than the 2000 average annual county wage of $29,432.
The average annual county wage is calculated for all those employed by establishments
based within St. Charles County, both residents and non-residents. Chart 1 compares the
average annual wage over the five-year period for St. Charles County and three other
counties and the city of St. Louis. As depicted on the chart, St. Charles County is within
the middle of the average annual wages paid by jurisdictions surveyed.
PAGE 11.100
ST. CHARLES COUNTY MASTER PLAN
Appendix A
Background Information
Economy
INCOME LEVELS
The estimated median household income as reported in the 2006 American Community
Survey for St. Charles County was $64,567. This compares to a median household
income in 1999 of $57,528. The 2006 estimated median household income represents an
increase of approximately 12.2 percent from the income figure in 1999.
The 2006 estimated median family income as reported in the same above survey for St.
Charles County was $75,182. This compares with the median family income for the
county in 1999 of $64,415. The estimated median family income in 2006 represents an
approximate 16.7 percent increase from 1999. During these years from 1999 through
2006 the Consumer Price Index for the St. Louis Metropolitan Statistical Area rose 20.9
percent.
In 2006 there were an estimated 92,587 families residing in St. Charles County. From
this number it was estimated that 3.1 percent or 2,870 families had incomes below the
poverty level. The 2007 poverty income guideline for a family of four as established by
the Department of Health and Human Services was $20,650. St. Charles County had the
lowest estimated percentage of families below the poverty level of any county with a
population over 250,000 in the United States in 2005 according to data from the Bureau
of the Census.
COMPARISON OF HOUSEHOLD AND FAMILY INCOMES
Utilizing data from the 2006 American Community Survey conducted by the Census
Bureau, a comparison was made of 2006 estimated median household and family
incomes of various suburban counties in the central Midwest region of the nation. The
survey as presented in Chart 2 revealed of the nine counties analyzed St. Charles County
had the fourth highest estimated median household income with $64,567 and the county
also ranked the fourth highest in estimated median family income with $75,182.
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.101
Appendix A
Background Information
Economy
HOUSEHOLD INCOME BY ZIP CODES
The Environmental Systems Institute estimated 2006 median household income by zip
code within St. Charles County by utilizing a variety of data sources including those from
the Bureau of the Census and the Bureau of Labor Statistics. Sophisticated modeling
techniques were employed to ascertain median and average disposable incomes.
Map E1 depicts the various levels of estimated median household income by zip code in
the county. Zip codes with the highest estimated median household incomes include
63304 St. Charles, 63367 Lake St. Louis, and 63368 O'Fallon while the lowest was
63386 West Alton.
EDUCATIONAL ATTAINMENT
According to the 2006 American Community Survey of St. Charles County residents 25
years of age and older, 87,517 had professional degrees. Of this total an estimated
15,746 had associate degrees, 48,389 had bachelor degrees, and 23,382 had graduate or
professional degrees. Of those individuals 25 years of age or older an estimated 32.7
percent had a bachelor’s degree or higher level of education. In the 2000 Census of
Population 26.6 percent of residents 25 years of age or older had a bachelor’s degree or
higher level of education. This represents an increase of 22.9 percent over the six-year
period.
EMPLOYMENT WITHIN ST. CHARLES COUNTY
From 2000 to 2005 employment within St. Charles County increased substantially,
growing from 95,199 to 116,995 representing a 22.8 percent increase for the period. Job
creation during the five-year reporting period was most prevalent in the employment
sectors of accommodation and food services, construction, and finance and insurance.
The sectors of finance and insurance and accommodation and food services exhibited the
highest increases with 4,664 and 3,393 jobs added respectively.
Linear projections for employment within the county based upon recent trends in job
creation within the various employment sectors are tabulated in Table II. Total
employment within the county is projected to increase to 138,791 in 2010, 160,587 in
2015, and 182,383 in 2020. Projected employment additions were most pronounced in
the sectors of accommodation and food services, construction, finance and insurance,
health care and social assistance, and local government.
PAGE 11.102
ST. CHARLES COUNTY MASTER PLAN
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Disclaimer of Warranty
St. Charles County Government makes no representations about the suitability of these data for any
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$63,678
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purpose. The data are provided "as is" without express or implied warranties, including warranties of
merchantability and fitness for a particular purpose or noninfringement.
The user relieves St. Charles County Government and its respective officers, agents and employees of
TA B O TT O M R D
any liability for any and all damages resulting from use or mis-use of these data including, but not
limited to, incidental, consequential, special or indirect damages of any sort, whether arising in tort,
contract or otherwise, even if St. Charles County Government has been informed of the possibility of
Note: The 63348 zip code extends into Warren and Lincoln Counties. Income figure is for entire zip code. The 63357 zip code encompasses
just 111 homes in Saint Charles County while the remaining 90% of the zip code lies in Warren County. No income figure is given.
such damages, or for any claim by any other party. Furthermore, in States that do not allow the
exclusion or limitation of incidental or consequential damages, you may not use these data.
Data Source(s):
Environmental Systems Research Institute (ESRI), St. Charles County Government
08/30/2007
E1
Appendix A
Background Information
Economy
OCCUPATIONAL WAGE RATES
The Missouri Department of Economic
Development conducted a wage survey for St.
Charles County in 2006. In Table III are
some of the selected occupations and the
entry, medium, and experienced wage rates
for each.
JOB CLASSIFICATIONS WITH MOST
OPENINGS
The Missouri Economic Research and
Information Center, a division of the Missouri
Economic Development Department, has
conducted research into job growth openings
that are new jobs and replacement openings for
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.105
Appendix A
Background Information
Economy
vacancies in job positions for the St. Louis Metro
Area between the years 2002-2012. These job
growth and replacement opportunities are
presented in Chart 3. A large portion of these job
openings are in the classification of unskilled
workers. These positions would include retail
salespersons, food preparation and serving
workers, cashiers, waiters/waitresses, and
janitors/cleaners. Job openings which require
college degrees include registered nurses,
general/operations managers, elementary and
secondary teachers.
CHART 3
MANUFACTURING
St. Charles County can boast a wide variety of
manufacturing facilities. Some of the larger
manufacturing firms in the county and their
respective products include: Boeing Company
(sea-launch cruise missiles), General Motors
Wentzville Truck Assembly Center (automotive
assembly), LMI Aerospace (aerospace sheet metal
fabrication), MEMC Electronic Materials (silicone
wafers), and True Manufacturing (commercial
beverage coolers).
The 2002 Economic Census e numerated a total of 273 manufacturing establishments
having a total value of shipments in excess of $5.3 billion. These manufacturers had a
payroll of more than $659,000,000.
LARGEST COUNTY EMPLOYERS
Table IV lists the
largest private
employers in the
county in both 1995
and 2007. Although
the manufacturing
segment still plays a
vital role,
employment in
sizeable numbers has
shifted to finance and
entertainment.
PAGE 11.106
ST. CHARLES COUNTY MASTER PLAN
Appendix A
Background Information
Economy
This trend will translate in the future for a need to develop more office complexes,
business parks, and commercial entertainment centers. As more jobs are created within
the service section of the economy, the dynamics in the allocation of various land uses
within the county will have to respond to address the emerging trend.
UNDEVELOPED ACREAGE ZONED INDUSTRIAL
The Economic Development Center of St. Charles County utilizes a service, CoStar,
which tracks vacant acreage zoned commercial and industrial. From their files a total of
1,242.8 acres was enumerated as being marketed as industrial zoned properties. This
total includes 500 acres of the business park currently under development in the city of
St. Peters, Lakeside 370. Of the 54 properties on the list only four were properties of 100
acres or more in size. The majority of the industrial properties, 32 sites, were properties
of less than five acres. Map E2 depicts all industrial zoned properties within St. Charles
County both developed and vacant.
COST OF COMMERCIAL CONSTRUCTION
The 2007 RSMeans
Building Construction
Cost Data Book provides
national and local
averages for materials
and installation. Table V
lists these weighted costs
for various metropolitan
areas. To adjust these
costs to a specific
metropolitan area
multiply the base cost by
the factor and divide by
100, the national
average. The St. Louis Metropolitan Area has slightly lower material costs and slightly
higher installation costs than the national average.
ECONOMIC SHARE
Economic share is the percentage of the State of Missouri’s economy that is accounted
for by an individual county. The economic share is measured as the average of the
percentage of the state’s employment, population, and personal income that occurs in a
particular county.
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.107
Appendix A
Background Information
Economy
St. Charles County’s economic share in 2006 accounted for 6.1 percent of the state’s total
economy. The only other two counties with a larger share are St. Louis County (20.2
percent) and Jackson County (11.6%).
ECONOMIC ANALYSIS
REPORT BY CARTER-BURGESS
The consulting firm of Carter-Burgess, Inc. did extensive fieldwork for their study,
Competitive Analysis 2004, for the St. Charles County Economic Development Center.
Through their discussions with economic development officials, review of studies and
plans, and field surveys of the county, Carter Burgess has assessed St. Charles County’s
economic development potential and identified strengths, weaknesses, and
recommendations.
Strengths for the county included the Missouri Research Park, a number of Class A
industrial parks, attractive industrial buildings on the market, “spec” buildings ready to
go, and adequate utility infrastructure. Also cited are a strong “regional spirit”, a utility
structure which appears strong and competitive, the handling process of clients between
the EDC and area communities, and the potential of a planned development, Lakeside
370.
Weaknesses include a severe shortage of large sites (100 acres plus), the need for more
high-end office parks, the need for wet lab space, few “ready to go” large sites with rail
access, and improved industrial prices which are higher than Metro East, Illinois. It was
also stated that the Missouri Research Park is almost depleted of available properties, and
several potential large sites are facing limitations from nearby development.
Strengths
The "Regional Spirit" is strong.
The County's Master Plan: Target 2015 offers some important economic development
guidance particularly pertaining to transportation, workforce, cooperation and
technology needs. Recent transportation improvements look exceptionally positive
for new economic development.
The Missouri Research Park is one of the best planned research parks in the country
that sets a high standard that should be strived for in the future.
There are a number of fine Class A industrial parks, particularly in St. Charles and
Wentzville. Layouts are well done and building standards are high.
PAGE 11.108
ST. CHARLES COUNTY MASTER PLAN
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Warren County Missouri
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DYER RD
METTE RD
MCHUGH RD
N POINT PRAIRIE RD
T R I C H RD
D IE
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LB
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D
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IN
B A S TE A N RD
PE
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Big Creek
ORCHARD RD
DALBOW RD
Linc oln Cou nty
Mis souri
EISENBA
TH RD
IV
RD
S RD
F LA T W O OD
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PORTAGE RD
PLEASANT UNION
SCHOOL RD
SEEBURGER
RD
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GRAFTON FERRY RD
MISS
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IP
PI
Disclaimer of Warranty
St. Charles County Government makes no representations about the suitability of these data for any
purpose. The data are provided "as is" without express or implied warranties, including warranties of
merchantability and fitness for a particular purpose or noninfringement.
The user relieves St. Charles County Government and its respective officers, agents and employees of
any liability for any and all damages resulting from use or mis-use of these data including, but not
limited to, incidental, consequential, special or indirect damages of any sort, whether arising in tort,
contract or otherwise, even if St. Charles County Government has been informed of the possibility of
such damages, or for any claim by any other party. Furthermore, in States that do not allow the
exclusion or limitation of incidental or consequential damages, you may not use these data.
Data Source(s):
Dardenne Prairie, Flint Hill, Foristell, Lake Saint Louis, O’Fallon, St. Charles City,
St. Charles County Government, St. Paul, St. Peters, Weldon Springs and Wentzville.
08/30/2007
E2
Appendix A
Background Information
Economy
Several sizable (100,000 square foot plus) and attractive industrial buildings are
currently on the market.
An attractive "spec building" and other industrial buildings are ready to go.
There are several planned new industrial areas that will offer new products including
large sites, particularly Lakeside 370 in St. Peters.
All properties are conveniently listed on the County EDC and community websites
via LocationOne.
Utility infrastructure, particularly electric power and water/sewer capacities, appear
strong and competitive.
The prospect handling process between the County EDC and area communities is
professional, efficient and seamless.
The EDC has followed many of the 1995 marketing recommendations. The
progressive "direct call" marketing approach is working well.
Weaknesses
There is a severe need for "ready to go" large sites (100 acre plus) now. Only one site
was observed, the Zycan Site.
There are a few "ready to go" large sites with rail access.
Several potential large sites are facing limitations from nearby development.
Improved industrial prices are higher than the county’s biggest competitor, Metro
East, Illinois, and the county’s incentive packages do not appear as strong. Metro
East is winning the county’s projects!
The Research Park is almost out of product and future planning is focusing on other
parts of the state.
There is a need for more high-end office parks designed for regional headquarters and
high-end service center type projects.
There is a need for wet lab space, particularly for biotech start-ups.
Available product does not match up well with existing targets, such as
warehouse/distribution (DC), regional headquarters, and other manufacturing that
may need large sites. (The county may be passed over for a large DC project.)
Target research and cost comparison materials are outdated.
Web sites need improvement in order to provide better site selection information.
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.111
Appendix A
Background Information
Economy
TARGETED INDUSTRIES
A study prepared by Carter & Burgess, Inc. for the St. Charles County Economic
Development Center in 2004 listed targeted industries for economic expansion. These
industries were high tech, back office, financial services, secondary offices, warehouse
and distribution logistics, automotive suppliers, and targeted headquarters. It also stated
that attention should be made to such industries as food processing, plastics, industrial
machinery, and some metals. The above targeted industries would translate into more
land use designations for high technology, office development, warehousing and
distribution, and light and heavy industrial.
The same study by Carter & Burgess, Inc. lists “hot” targets, firms that are poised for
expansion and new facility locations on a global scale. The data was from surveys
conducted by Conway Incorporated for 2003. These categories and the number of total
expansions within each are shown in Chart 4.
CHART 4
Major Global Locations/Expansions, 2003
468
Back Office/Call Centers /IT
404
Warehous e/Dis tribution
327
Trans portation Equipment
245
Chem/Pharm/Bio
206
Food Proces s ing
174
Plas tics
138
Computers /Elec
121
Primary Metals
116
Fab Metals
115
Indus trial Mach
77
Mis c Mfg
77
Paper
75
67
Glas s
Electronic Equip
59
Wood Products
0
100
200
300
400
500
Source: Conway Dat a
PAGE 11.112
ST. CHARLES COUNTY MASTER PLAN
Appendix A
Background Information
Economy
CARTER & BURGESS RECOMMENDATIONS
Recommendations include the development of new large industrial sites and high-end
research parks, working closely with area partners to market the region, and developing
research parks with wet labs. The EDC’s economic development plan needs adjustments
related to the marketing and web site elements. The Carter & Burgess study identified
the following recommendations to consider, based on their overview:
Continue to work closely with area partners to market the region first to site selection
prospects.
Work quickly to develop a number of new large industrial site alternatives across the
county.
Study and develop incentive alternatives designed to assist large tract industrial users.
Work to develop new high-end parks and research parks (and wet labs) in the county.
Conduct a comprehensive economic development strengths and weaknesses
assessment from a site selection perspective. Include important workforce,
sites/buildings, incentives, emerging target and marketing elements. Benchmark
against key competitors, particularly Illinois.
Update appropriate target industry research and cost comparison products and
conduct a logistics analysis to show your advantages for DC projects.
From these adjust the County's economic development plan including marketing and
web site elements.
Address all development voids using the cooperative public/private process that has
been so successful for the county in the past.
Members of the Economic Development Roundtable of the County Economic
Development Center have discussed but not officially addressed the following concerns.
The Roundtable believes that there should be a mechanism for protecting areas for office
development along the I-64 corridor. There is a need for an intra-county bus system to
transport workers, seniors, and others around the county. Efforts should be made to
provide more options for the development of workforce housing. Lastly, transportation
improvements are needed on improving Interstate 70, the replacing of the Old Highway
40 bridge over the Missouri River, and the extension of MO 364 to I-64.
ST. CHARLES COUNTY MASTER PLAN
PAGE 11.113