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Iowa State University Retail Trade Analysis Program Economic and Place Impacts of the Iowa Great Places Program

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Page 1: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

Economic and Place Impacts of the Iowa Great Places Program

Page 2: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

O’Brien Economic Consulting

ANALYZE THE PERFORMANCE OF IOWA GREAT PLACES

SOME PERFORMANCE IS QUALITATIVE NOT QUANTITATIVE

IMPACTS FAR REACHING, SOME INDICATORS ARE LAGGING

Report Methodology

Page 3: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

O’Brien Economic Consulting

DEMOGRAPHICS POPULATION, SCHOOL ENROLLMENT

ECONOMIC STABILITY INDICATORS EMPLOYMENT, ENTREPRENEURSHIP, RETAIL

TOURISM IMPACTS RETAIL CATEGORIES, HOTEL TAX REVENUE, TOURISM EXPENDITURES

Report Methodology

Page 4: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

O’Brien Economic Consulting

GREAT PLACES COMMUNITIES OUTPERFORMING PEER GROUP

IMMEDIATE RESULTS IN CERTAIN SECTORS

DRIVER OF ECONOMIC GROWTH

Key Findings

Page 5: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

O’Brien Economic Consulting

1,012 CONSTRUCTION JOBS CREATED

707 PERMANENT JOBS CREATED

COST OF JOB CREATION: $9,000 PER JOB

ROI OF 300 PERCENT

Key Findings

Page 6: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Iowa State University Retail Trade Analysis Program

O’Brien Economic Consulting

FIRST PERFORMANCE MEASURE REFLECTS PERFORMANCE SINCE

DESIGNATION

SECOND MEASURE REFLECTS THE OVERALL TREND

Summary Tables

Page 7: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

Great Place Population School Enrollment Employment

Clinton Above Average/StableAbove Average/Increasing

Above Average/Increasing

Coon Rapids Average/Stable Above Average/StableAbove Average/Increasing

Sioux City Average/Increasing Average/Stable Average/Stable

Adams CountyBelow Average/Declining Average/Declining

Above Average/Increasing

Dubuque Average/Stable Superior/Increasing Average/Increasing

Fairfield Average/DecliningBelow Average/Declining Average/Increasing

Guttenberg Average/Stable Average/Stable Average/Increasing

Jackson County Average/Stable Superior/Increasing Average/Stable

Mason CityBelow Average/Declining

Below Average/Declining

Below Average/Declining

Page 8: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

Great Place

Retail Pull Factor

Potential Sales Sales Capacity Per Capita Sales Retail Firms

ClintonAbove Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing Superior/Increasing

Coon Rapids

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Sioux CityAbove Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Adams County

Average/Increasing

Average/Increasing

Average/Increasing

Average/Increasing

Above Average/Increasing

Page 9: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

DubuqueSuperior/Increasing

Superior/Increasing

Superior/Increasing

Superior/Increasing

Superior/Increasing

FairfieldAverage/Stable Average/Stable Average/Stable Average/Stable

Above Average/Increasing

GuttenbergAverage/Increasing

Average/Increasing

Average/Increasing

Average/Increasing Average/Increasing

Jackson County

Average/Increasing

Average/Increasing

Average/Increasing

Average/Increasing

Above Average/Increasing

Mason City

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Great PlaceRetail Pull Factor

Potential Sales Sales Capacity Per Capita Sales Retail Firms

Page 10: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

Great Place

Hotel Tax Revenue

Specialty Retail Sales

Tourism Dollars Tourism Employment

ClintonSuperior/Increasing Superior/Increasing Superior/Increasing Superior/Increasing

Coon Rapids N/A Average/Increasing Average/Increasing Average/Increasing

Sioux CitySuperior/Increasing Superior/Increasing Superior/Increasing Superior/Increasing

Adams County N/A Average/Increasing Average/Increasing Average/Stable

Page 11: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

DubuqueSuperior/Increasing

Above Average/Increasing

Above Average/Increasing Stable/Declining

FairfieldAverage/Declining

Above Average/Increasing Stable/Increasing Average/Stable

GuttenbergSuperior/Increasing Average/Increasing Average/Increasing Average/Stable

Jackson County

Average/Increasing Average/Stable Average/Increasing Average/Increasing

Mason CitySuperior/Increasing

Above Average/Increasing

Above Average/Increasing

Above Average/Increasing

Great PlaceHotel Tax Revenue

Specialty Retail Sales

Tourism Dollars Tourism Employment

Page 12: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

Summary of Findings

This program provided inertia for many other economic development efforts.

Great Places Program is model for economic development in a rapidly evolving macro economy.

Creates opportunities for synergies and partnerships, previously not exploited.

Page 13: Iowa State University Retail Trade Analysis Program O’Brien Economic Consulting Meghan O’Brien October 22, 2010 Economic and Place Impacts of the Iowa

For More Information:

The full report is available on the Iowa Great Places website.

Meghan O’Brien O’Brien Economic Consulting

[email protected]