Urban Economic Resiliency: Expanding Economic Development Opportunities in Cities
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Urban Economic Resiliency: Expanding Economic Development Opportunities in Cities

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Brian Kelsey's presentation at the Reimagining Cities Symposium presented by the Center for Politics and Governance at the LBJ School of Public Affairs on October 25, 2013.

Brian Kelsey's presentation at the Reimagining Cities Symposium presented by the Center for Politics and Governance at the LBJ School of Public Affairs on October 25, 2013.

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Urban Economic Resiliency: Expanding Economic Development Opportunities in Cities Presentation Transcript

  • 1. Urban Economic Resiliency: Expanding Economic Development Opportunities in Cities Reimagining Cities Symposium LBJ School of Public Affairs October 25, 2013
  • 2. GDP Growth, 2002-2012 (Adj) 9% 8% 7% 6% 5% 4% 3% 2% 1% 0% -1% -2% -3% -4% -5% Austin MSA US Metro Areas Austin MSA economy grew by 47% between 2001 and 2012, second only to Houston among large metro areas (> $50B). Source: US Bureau of Economic Analysis. Adjusted for inflation ($2013). October 25, 2013 | Reimagining Cities: Building Resiliency
  • 3. Job Growth, 2002-2012 6% 5% 4% 3% Austin MSA Texas 2% 1% 0% US -1% -2% -3% -4% -5% Austin MSA ranked #1 in job growth (23%) among large metros (500K+) between 2001 and 2012. Austin MSA added 13,500 jobs per year on average. Source: US Bureau of Labor Statistics (CES) October 25, 2013 | Reimagining Cities: Building Resiliency
  • 4. Net Migration (Travis, 2010) Travis County is gaining approximately 5,600 people per year moving from other states, fueling total population growth of 276,000 residents (34%) between 2000 and 2012. Source: Internal Revenue Service (# of people). Map created by Forbes. 5,600 figure based on 2000-2010 and includes taxpayers only. October 25, 2013 | Reimagining Cities: Building Resiliency
  • 5. Per Capita Income (Travis, %US) 130 120 110 100 103.67 1996 90 103.94 2011 80 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 70 Source: US Bureau of Economic Analysis October 25, 2013 | Reimagining Cities: Building Resiliency
  • 6. % Pop ≥ Associate’s Degree (Austin, 2012) Asian 75% White 65% Black 23% Hispanic/Latino 23% 0% 10% 20% 30% 70% of projected job openings (2013-2023) in Travis County paying median wage of at least $18 per hour will require a postsecondary credential or degree. 40% 50% 60% Source: US Census Bureau (ACS). Data is for population age 25+. Job opening data from EMSI. Includes full-time only. October 25, 2013 | Reimagining Cities: Building Resiliency 70% 80%
  • 7. Average Monthly Earnings (Travis, 2012Q2) Asian $5,850 White $5,387 Black $3,371 Hispanic/Latino $1,000 $3,272 $2,000 $3,000 Source: US Census Bureau (LEHD, QWI) October 25, 2013 | Reimagining Cities: Building Resiliency According to MIT’s Living Wage Calculator, a family with one adult and one child living in Travis County requires $3,390 in pre-tax monthly income to meet basic needs. $4,000 $5,000 $6,000 $7,000
  • 8. Reimagining Austin • Evaluate economic development efforts based on wealth creation, not just traditional metrics of jobs and private investment • Austin Chamber and City of Austin are taking steps in right direction—now comes difficult work of implementation & experimentation • Austin is uniquely positioned for exploring & testing new policies and models October 25, 2013 | Reimagining Cities: Building Resiliency
  • 9. Brian Kelsey Civic Analytics LLC 3420 Executive Center Drive Suite 300 Austin, TX 78731 brian@civicanalytics.com 512-731-7851 http://civicanalytics.com @civicanalytics October 25, 2013 | Reimagining Cities: Building Resiliency