This document summarizes economic data for Sonoma County from July 2013. It reports that the county's unemployment rate dropped to 6.5% in April 2013, the lowest in 5 years. Between 2000-2011, median household income grew 16.9% to $64,031, and is projected to increase another 16.2% by 2016. Nearly half of employed residents work in services, with retail being the second largest sector. Sonoma County experienced higher employment growth than the national and Bay Area averages in recent years.
Annie Williams Real Estate Report - Jan 2016Jon Weaver
Jonathan Smoke, chief economist of realtor.com, and his team carried out the data analysis and identified the top 20 medium-to-large markets where homes are moving fastest and interest
(based on listing views on realtor.com) is highest. At the top of the list, for the second month in a row, is San Francisco, followed by its sister Bay Area city San Jose.
Matt Apuzzo presents at the Reynolds Center's Washington, D.C. workshop, "What's Next for the Economy in Your Town." For more information, please visit http://businessjournalism.org.
Coral Springs Florida, Provided by Realtors Property Recourse as August 10, 2016
Simon Gedz 954-562-1798
Thinking of buying or Selling?
please call the PRO
Colorado’s Tourism Industry By the Numbersloisw3636
When talking about tourism in the U.S., several familiar cities and states come to mind. California, New York, and other high-profile cities are among them. But, perhaps it’s time to include Colorado in the picture. The state’s tourism numbers for the past two years more than speak for itself.
Annie Williams Real Estate Report - Jan 2016Jon Weaver
Jonathan Smoke, chief economist of realtor.com, and his team carried out the data analysis and identified the top 20 medium-to-large markets where homes are moving fastest and interest
(based on listing views on realtor.com) is highest. At the top of the list, for the second month in a row, is San Francisco, followed by its sister Bay Area city San Jose.
Matt Apuzzo presents at the Reynolds Center's Washington, D.C. workshop, "What's Next for the Economy in Your Town." For more information, please visit http://businessjournalism.org.
Coral Springs Florida, Provided by Realtors Property Recourse as August 10, 2016
Simon Gedz 954-562-1798
Thinking of buying or Selling?
please call the PRO
Colorado’s Tourism Industry By the Numbersloisw3636
When talking about tourism in the U.S., several familiar cities and states come to mind. California, New York, and other high-profile cities are among them. But, perhaps it’s time to include Colorado in the picture. The state’s tourism numbers for the past two years more than speak for itself.
2018 Oregon Wine Symposium | State of The Industry - Danny BragerOregon Wine Board
Rob McMillan will return to present the Silicon Valley Bank, State of the Industry report with a specific focus on Oregon’s placement. Danny Brager will present Nielsen and new DTC data for Oregon wines, identifying the growth trends in varietal, price and regional categories and providing predictions for future growth. Christian Miller of Full Glass Research will present his research findings from his Economic Impact Study of Oregon.
2018 Oregon Wine Symposium | State of The Industry - Rob McMillanOregon Wine Board
Rob McMillan will return to present the Silicon Valley Bank, State of the Industry report with a specific focus on Oregon’s placement. Danny Brager will present Nielsen and new DTC data for Oregon wines, identifying the growth trends in varietal, price and regional categories and providing predictions for future growth. Christian Miller of Full Glass Research will present his research findings from his Economic Impact Study of Oregon.
Check out Coldwell Banker Commercial’s 2014 Blue Book, a year-end market intelligence report assembled entirely from data submitted by CBC-affiliated companies. The 2014 edition includes the most comprehensive primary, secondary and tertiary market coverage.
The Wright Report is perfect bathroom reading to help understand local real estate. Well, maybe for some. This is a very detailed report to unpack the housing market in Northern California as well as other national economic influences. What is making value move? And where have values been moving? Compiled by Real Estate Broker Joel Wright (and yours truly contributed a couple pages). Counties covered include: Sacramento, Placer, Yolo, El Dorado & San Joaquin.
The Orange County, CA Real Estate Market Report for November 2013 has all the numbers and stats for cities in the county including home listing prices, sold prices, inventory, pending sales and more.
Each city has a multifaceted tax code with many moving parts, and San Diego is no exception. This chart books aims to help readers understand San Diego’s overall economy and tax system from a broad perspective.
Over 150 Primary, Secondary & International commercial real estate markets are covered in the 2013 Year End edition of the Coldwell Banker Commercial Blue Book.
The Columbus MSA added 12,300 jobs in 2013 and continues to rank very well against comparable U.S. metros, according to Columbus 2020, the economic development organization in the Columbus Region. The final quarterly economic update for the 2013 calendar year covers regional economic data and development activities in the fourth quarter and throughout the year.
1-866-275-3266
[email protected]
ANALYSIS
VITALITYRELATIVE COSTS
LIVING BUSINESS RELATIVE OF LIFE
Best=1, Worst=378Best=1, Worst=403
STRENGTHS & WEAKNESSES
U.S.=100%
SHORT TERM
FORECAST RISKS
LONG TERM
RISK EXPOSURE
2019-2024
BUSINESS CYCLE STATUS
MOODY’S RATING
ECONOMIC DRIVERS
Highest=1
Lowest=403
EMPLOYMENT GROWTH RANK
Best=1, Worst=410
2018-2020 2018-2023
QUALITY
MOODY’S ANALYTICS / Précis® U.S. Metro / December 2019
RETIREE
HAVEN
TOURIST
DESTINATION
MEDICAL
CENTER
2013 2014 2015 2016 2017 2018 INDICATORS 2019 2020 2021 2022 2023 2024
3.4 3.4 3.4 3.3 3.4 3.4 Gross metro product (C12$ bil) 3.5 3.6 3.7 3.8 3.9 4.0
-3.1 0.4 -0.7 -3.0 2.3 0.5 % change 2.4 2.5 2.5 3.7 2.9 2.7
32.2 32.0 32.8 33.3 33.2 33.4 Total employment (ths) 34.0 34.4 34.4 34.7 35.0 35.2
-3.1 -0.4 2.4 1.4 -0.1 0.6 % change 1.7 1.3 -0.0 0.8 0.9 0.6
9.7 8.5 7.6 6.8 5.9 5.2 Unemployment rate (%) 4.9 5.2 5.8 6.1 6.1 6.2
2.1 3.7 5.1 2.7 5.5 5.3 Personal income growth (%) 5.9 6.7 6.5 8.0 7.2 6.6
38.8 39.1 39.3 41.5 43.5 45.6 Median household income ($ ths) 48.1 50.3 51.8 53.8 55.9 57.9
138.8 138.8 140.3 142.9 145.5 147.9 Population (ths) 150.1 152.4 154.4 156.5 158.6 160.7
-0.2 0.0 1.1 1.8 1.9 1.7 % change 1.5 1.5 1.4 1.3 1.3 1.3
1.1 1.4 3.0 4.0 4.1 3.9 Net migration (ths) 3.7 3.8 3.6 3.7 3.7 3.8
201 233 354 371 433 884 Single-family permits (#) 720 794 1,061 1,408 1,476 1,439
0 0 24 145 113 0 Multifamily permits (#) 59 35 29 26 25 24
141.9 144.4 159.6 173.3 191.7 213.7 FHFA house price (1995Q1=100) 225.1 221.0 220.4 219.8 221.7 228.6
Recent Performance. Homosassa Springs
is bringing up the rear in Florida. Job growth has
slowed, dipping below the national average. HOM
is the only area in Florida where payroll employ-
ment is significantly below its prerecession peak.
Though some of the shortfall owes to the severity of
the last downturn, the metro area has consistently
underperformed its Florida peers over the last de-
cade. The labor market is also softer than previously
believed—the Quarterly Census of Employment
and Wages indicates that survey-based estimates
overcounted employment in 2019. Private services
are underperforming, including leisure/hospitality,
but education/healthcare is expanding with vigor.
At 4.5%, the jobless rate is nearing its cycle low,
and labor market tightness has sent hourly earnings
sharply higher, with average pay closer to the Flor-
ida and U.S. averages than at any time since 2013.
Retirees. A large and expanding retiree popu-
lation will help right the ship and secure HOM’s
spot in the top quintile of areas in job growth
through 2023. Residents age 65 or older account
for a well above-average one-quarter of HOM’s
population, as retirees are drawn to the warm cli-
mate, low taxes, and high housing affordability
relative to other senior havens in the state.
Although seniors do not purchase as many
big-ticket items as other age cohorts, their pres-
ence will he ...
2018 Oregon Wine Symposium | State of The Industry - Danny BragerOregon Wine Board
Rob McMillan will return to present the Silicon Valley Bank, State of the Industry report with a specific focus on Oregon’s placement. Danny Brager will present Nielsen and new DTC data for Oregon wines, identifying the growth trends in varietal, price and regional categories and providing predictions for future growth. Christian Miller of Full Glass Research will present his research findings from his Economic Impact Study of Oregon.
2018 Oregon Wine Symposium | State of The Industry - Rob McMillanOregon Wine Board
Rob McMillan will return to present the Silicon Valley Bank, State of the Industry report with a specific focus on Oregon’s placement. Danny Brager will present Nielsen and new DTC data for Oregon wines, identifying the growth trends in varietal, price and regional categories and providing predictions for future growth. Christian Miller of Full Glass Research will present his research findings from his Economic Impact Study of Oregon.
Check out Coldwell Banker Commercial’s 2014 Blue Book, a year-end market intelligence report assembled entirely from data submitted by CBC-affiliated companies. The 2014 edition includes the most comprehensive primary, secondary and tertiary market coverage.
The Wright Report is perfect bathroom reading to help understand local real estate. Well, maybe for some. This is a very detailed report to unpack the housing market in Northern California as well as other national economic influences. What is making value move? And where have values been moving? Compiled by Real Estate Broker Joel Wright (and yours truly contributed a couple pages). Counties covered include: Sacramento, Placer, Yolo, El Dorado & San Joaquin.
The Orange County, CA Real Estate Market Report for November 2013 has all the numbers and stats for cities in the county including home listing prices, sold prices, inventory, pending sales and more.
Each city has a multifaceted tax code with many moving parts, and San Diego is no exception. This chart books aims to help readers understand San Diego’s overall economy and tax system from a broad perspective.
Over 150 Primary, Secondary & International commercial real estate markets are covered in the 2013 Year End edition of the Coldwell Banker Commercial Blue Book.
The Columbus MSA added 12,300 jobs in 2013 and continues to rank very well against comparable U.S. metros, according to Columbus 2020, the economic development organization in the Columbus Region. The final quarterly economic update for the 2013 calendar year covers regional economic data and development activities in the fourth quarter and throughout the year.
1-866-275-3266
[email protected]
ANALYSIS
VITALITYRELATIVE COSTS
LIVING BUSINESS RELATIVE OF LIFE
Best=1, Worst=378Best=1, Worst=403
STRENGTHS & WEAKNESSES
U.S.=100%
SHORT TERM
FORECAST RISKS
LONG TERM
RISK EXPOSURE
2019-2024
BUSINESS CYCLE STATUS
MOODY’S RATING
ECONOMIC DRIVERS
Highest=1
Lowest=403
EMPLOYMENT GROWTH RANK
Best=1, Worst=410
2018-2020 2018-2023
QUALITY
MOODY’S ANALYTICS / Précis® U.S. Metro / December 2019
RETIREE
HAVEN
TOURIST
DESTINATION
MEDICAL
CENTER
2013 2014 2015 2016 2017 2018 INDICATORS 2019 2020 2021 2022 2023 2024
3.4 3.4 3.4 3.3 3.4 3.4 Gross metro product (C12$ bil) 3.5 3.6 3.7 3.8 3.9 4.0
-3.1 0.4 -0.7 -3.0 2.3 0.5 % change 2.4 2.5 2.5 3.7 2.9 2.7
32.2 32.0 32.8 33.3 33.2 33.4 Total employment (ths) 34.0 34.4 34.4 34.7 35.0 35.2
-3.1 -0.4 2.4 1.4 -0.1 0.6 % change 1.7 1.3 -0.0 0.8 0.9 0.6
9.7 8.5 7.6 6.8 5.9 5.2 Unemployment rate (%) 4.9 5.2 5.8 6.1 6.1 6.2
2.1 3.7 5.1 2.7 5.5 5.3 Personal income growth (%) 5.9 6.7 6.5 8.0 7.2 6.6
38.8 39.1 39.3 41.5 43.5 45.6 Median household income ($ ths) 48.1 50.3 51.8 53.8 55.9 57.9
138.8 138.8 140.3 142.9 145.5 147.9 Population (ths) 150.1 152.4 154.4 156.5 158.6 160.7
-0.2 0.0 1.1 1.8 1.9 1.7 % change 1.5 1.5 1.4 1.3 1.3 1.3
1.1 1.4 3.0 4.0 4.1 3.9 Net migration (ths) 3.7 3.8 3.6 3.7 3.7 3.8
201 233 354 371 433 884 Single-family permits (#) 720 794 1,061 1,408 1,476 1,439
0 0 24 145 113 0 Multifamily permits (#) 59 35 29 26 25 24
141.9 144.4 159.6 173.3 191.7 213.7 FHFA house price (1995Q1=100) 225.1 221.0 220.4 219.8 221.7 228.6
Recent Performance. Homosassa Springs
is bringing up the rear in Florida. Job growth has
slowed, dipping below the national average. HOM
is the only area in Florida where payroll employ-
ment is significantly below its prerecession peak.
Though some of the shortfall owes to the severity of
the last downturn, the metro area has consistently
underperformed its Florida peers over the last de-
cade. The labor market is also softer than previously
believed—the Quarterly Census of Employment
and Wages indicates that survey-based estimates
overcounted employment in 2019. Private services
are underperforming, including leisure/hospitality,
but education/healthcare is expanding with vigor.
At 4.5%, the jobless rate is nearing its cycle low,
and labor market tightness has sent hourly earnings
sharply higher, with average pay closer to the Flor-
ida and U.S. averages than at any time since 2013.
Retirees. A large and expanding retiree popu-
lation will help right the ship and secure HOM’s
spot in the top quintile of areas in job growth
through 2023. Residents age 65 or older account
for a well above-average one-quarter of HOM’s
population, as retirees are drawn to the warm cli-
mate, low taxes, and high housing affordability
relative to other senior havens in the state.
Although seniors do not purchase as many
big-ticket items as other age cohorts, their pres-
ence will he ...
1-866-275-3266
[email protected]
ANALYSIS
VITALITYRELATIVE COSTS
LIVING BUSINESS RELATIVE OF LIFE
Best=1, Worst=378Best=1, Worst=403
STRENGTHS & WEAKNESSES
U.S.=100%
SHORT TERM
FORECAST RISKS
LONG TERM
RISK EXPOSURE
2019-2024
BUSINESS CYCLE STATUS
MOODY’S RATING
ECONOMIC DRIVERS
Highest=1
Lowest=403
EMPLOYMENT GROWTH RANK
Best=1, Worst=410
2018-2020 2018-2023
QUALITY
MOODY’S ANALYTICS / Précis® U.S. Metro / December 2019
RETIREE
HAVEN
TOURIST
DESTINATION
MEDICAL
CENTER
2013 2014 2015 2016 2017 2018 INDICATORS 2019 2020 2021 2022 2023 2024
3.4 3.4 3.4 3.3 3.4 3.4 Gross metro product (C12$ bil) 3.5 3.6 3.7 3.8 3.9 4.0
-3.1 0.4 -0.7 -3.0 2.3 0.5 % change 2.4 2.5 2.5 3.7 2.9 2.7
32.2 32.0 32.8 33.3 33.2 33.4 Total employment (ths) 34.0 34.4 34.4 34.7 35.0 35.2
-3.1 -0.4 2.4 1.4 -0.1 0.6 % change 1.7 1.3 -0.0 0.8 0.9 0.6
9.7 8.5 7.6 6.8 5.9 5.2 Unemployment rate (%) 4.9 5.2 5.8 6.1 6.1 6.2
2.1 3.7 5.1 2.7 5.5 5.3 Personal income growth (%) 5.9 6.7 6.5 8.0 7.2 6.6
38.8 39.1 39.3 41.5 43.5 45.6 Median household income ($ ths) 48.1 50.3 51.8 53.8 55.9 57.9
138.8 138.8 140.3 142.9 145.5 147.9 Population (ths) 150.1 152.4 154.4 156.5 158.6 160.7
-0.2 0.0 1.1 1.8 1.9 1.7 % change 1.5 1.5 1.4 1.3 1.3 1.3
1.1 1.4 3.0 4.0 4.1 3.9 Net migration (ths) 3.7 3.8 3.6 3.7 3.7 3.8
201 233 354 371 433 884 Single-family permits (#) 720 794 1,061 1,408 1,476 1,439
0 0 24 145 113 0 Multifamily permits (#) 59 35 29 26 25 24
141.9 144.4 159.6 173.3 191.7 213.7 FHFA house price (1995Q1=100) 225.1 221.0 220.4 219.8 221.7 228.6
Recent Performance. Homosassa Springs
is bringing up the rear in Florida. Job growth has
slowed, dipping below the national average. HOM
is the only area in Florida where payroll employ-
ment is significantly below its prerecession peak.
Though some of the shortfall owes to the severity of
the last downturn, the metro area has consistently
underperformed its Florida peers over the last de-
cade. The labor market is also softer than previously
believed—the Quarterly Census of Employment
and Wages indicates that survey-based estimates
overcounted employment in 2019. Private services
are underperforming, including leisure/hospitality,
but education/healthcare is expanding with vigor.
At 4.5%, the jobless rate is nearing its cycle low,
and labor market tightness has sent hourly earnings
sharply higher, with average pay closer to the Flor-
ida and U.S. averages than at any time since 2013.
Retirees. A large and expanding retiree popu-
lation will help right the ship and secure HOM’s
spot in the top quintile of areas in job growth
through 2023. Residents age 65 or older account
for a well above-average one-quarter of HOM’s
population, as retirees are drawn to the warm cli-
mate, low taxes, and high housing affordability
relative to other senior havens in the state.
Although seniors do not purchase as many
big-ticket items as other age cohorts, their pres-
ence will he.
Columbus MSA employment was up 8,200 (0.8 percent) from March to June, ahead of Ohio’s increase of 0.4 percent and the U.S. increase of 0.6 percent, according to the Q2 economic update report produced by Columbus 2020. Going into the second half of the year, unemployment in the Columbus Region continued to decline at 4.6 percent, compared to June state and national rates of 5.5 and 6.1, respectively.
The Rhiza Ratio identifies correlations derived from the intersections of large datasets. In this edition we look at patterns of low income by gender nationwide.
The rate of increase in Columbus Region employment in the second quarter was more than double the Ohio and U.S. levels. Click for more news from the Columbus Region's second quarter of 2013.
Columbus Region employment increases are more than double the rate of state and national levels. Year-over-year comparisons for the Region also top state and U.S. increases.
Saratoga County Manufacturing Economic Index 4.17.19JenniferKelley47
Takeaways from the Saratoga County Manufacturing Index include:
• Manufacturing is the fourth-largest private-sector employer in Saratoga County, representing 11 percent of total employment.
• The semiconductor industry (2,599 jobs) is the leading manufacturing employer, followed by chemicals (1,278), printing (890), paper (518) and fabricated metals (501)
• Nearly half of manufacturing jobs in Saratoga County – 3,678 – are directly supported by exports
• Statewide, the biggest exported NY products by percentage are miscellaneous manufactured commodities (39), followed by semiconductor (12), primary metals (9) and chemicals (9)
• Statewide, the leading foreign countries that receive exported NY products by percentage are Canada (14), Hong Kong (12), Israel (8), the United Kingdom (7) and Switzerland (7)
Jeannine Aversa and Thomas Dail present "Mining BEA Data," part of the free business journalism workshop, "Breaking Local Stories with Economic Data," hosted by the Donald W. Reynolds National Center for Business Journalism and the Investigative Reporters and Editors.
This presentation focuses on the Texas region, however the tools and resources provided can be applied anywhere in the United States.
For more information about free training for business journalists, please visit businessjournalism.org.
The Saratoga County Prosperity Partnership, a Saratoga County-based economic development organization, today unveiled its inaugural Saratoga County Hospitality & Tourism Index, which illustrates a flourishing industry that delivers a nearly $1 billion annual economic impact, creates and sustains thousands of jobs, and drives substantial activity at hotels, restaurants, retail outlets and tourist attractions throughout Saratoga County.
Saratoga County’s hospitality and tourism sector generated an economic impact of $979 million in 2018 according to the index, which captured a quantitative analysis of data prepared by Tourism Economics, a leader in global forecasting. That total includes $589 million in traveler spending, $321 million in labor income, and $69 million in local and state taxes. Of note, tourism-generated state and local taxes saved the average household $738 in annual property taxes that would have been needed to maintain government services.
At the same time, job growth in Saratoga County’s hospitality and tourism sector is robust. Total employment last year stood at more than 11,500, and in accommodations and food services alone, which include hotels, restaurants and related businesses, both the number of people working – nearly 10,000 – and the average annual wage – $24,164 – have almost doubled since 2001.
1. ECONOMIC
SNAPSHOT
EMPLOYMENT
Bay Area Unemployment Rates
County Dec-12 Nov-12 Dec-11
Alameda 8.2% 8.5% 9.3%
Contra Costa 8.2% 8.4% 9.3%
Marin 5.5% 5.8% 6.4%
Napa 7.9% 7.5% 8.8%
San Francisco 6.5% 6.7% 7.7%
Santa Clara 7.5% 7.7% 8.6%
Solano 9.3% 9.3% 10.4%
Sonoma 7.7% 7.7% 9.0%
Source: CA-EDD
A SUMMARY OF SONOMA COUNTY’S ECONOMY
HIGHLIGHTS
In April 2013 the Sonoma County
unemployment rate dropped to
6.5%, according to the California
Employment Development
Department. This is the lowest
unemployment has been in the past
5 years.
Between 2000 and 2011, the median
household income in Sonoma
County grew by 16.9% to $64,031.
Looking into 2016, this growth is
expected to continue with median
income rising to $76,440, an
increase of 16.2% from 2011.
Almost half (48.6%) of Sonoma
County’s employed population is in
the services sector, with the second
largest sector being retail trade
(11.5%).
401 College Ave, Suite D
Santa Rosa, CA 95401-5148
707.565.7170 office • 707.565.7231 fax
www.sonomaedb.org
SONOMA COUNTY ECONOMIC
DEVELOPMENT BOARD
JULY 2013
Sonoma County is experiencing
continued job growth. As shown in
the graph below; employment growth
last year was higher than the U.S.
average, and higher than many other
regions, including the Bay Area.
Source: UCLA Anderson Forecast
Sonoma County follows
closely behind North
Dakota, the fastest-
growing state in the U.S.,
for nonfarm job growth
as shown on the right.
Sonoma County also
incurred a 4.9%
employment increase
from November 2011 to
November 2012. This
increase is higher than
that of neighboring
counties such as Marin
and is also higher than
the state average.
Employment
Development
Department
Source: UCLA Anderson Forecast
All data is subject to the most recent information available as of July 2013
2. RESIDENTIAL REAL ESTATE
Single-Family Home Sales: January 1 - March 31, 2013 Change from 2012 – 2013
Average Sale
Price
Median Sale
Price
Unit
Sales
Days on
Market
Average
Sale Price
Median
Sale Price
Unit
Sales
Sonoma
County
$459,315 $380,000 961 95 16% 20% 16%
Santa Rosa $411,272 $356,500 392 83 21% 21% -20%
Petaluma $480,227 $422,408 132 79 23% 24% -22%
Sonoma $581,305 $425,000 75 101 -5% -3% -15%
Cotati,
Rohnert Park
$370,322 $357,000 67 61 23% 20% -22%
Windsor $367,573 $360,000 63 94 11% 12% -21%
Sebastopol $614,196 $514,000 48 102 39% 30% 14%
Cloverdale $360,864 $315,000 45 91 53% 37% 10%
Healdsburg $767,220 $500,000 37 122 6% 29% -10%
Guerneville $253,276 $249,000 18 117 26% 24% -31%
Bodega Bay $514,125 $504,500 8 191 -26% -28% -47%
Source: BAREIS MLS (Single-family homes sold January 1 - March 31, 2013 &2012)
Commercial Real Estate information provided by Keegan & Coppin-ONCOR International
The Sonoma County Economic Development Board (EDB) believes all data contained within this report to be accurate and the most current
available, but does not guarantee its accuracy or completeness. Use of data from an outside source does not represent an endorsement of any
product or service by the EDB, its members or affiliates.
“In Sonoma County, almost all the recession is over with,”
- Jerry Nickelsburg, Ph.D., senior economist of UCLA’s Anderson School
of Management
COMMERICAL REAL ESTATE
Retail vacancy rates in Sonoma County
have continued to decline since their peak
in 2009 of 9.2%. In the second quarter of
2012, retail vacancy rates for Sonoma
County were 5.6%.
Office vacancy rates are currently
fluctuating around 23%.
Industrial vacancy rates have fallen to
12.3% since their peak of 15.6% in first
quarter 2010
JULY 2013
Sonoma County Economic Snapshot
All data is subject to the most recent information available as of July 2013
3. TOURISM
The long-term outlook for Sonoma County’s tourism industry
remains positive. The region is growing in recognition as a premier
tourist destination, and its proximity to Bay Area attractions and
airports will continue to support growth.
Compared to the national average, Sonoma County residents
spend considerably more per capita on travel, housing, and
entertainment. They spend 13% less on apparel and services. The
largest consumer expenditures were on housing, transportation, and
food.000
Leisure and hospitality will be among Sonoma County’s
largest drivers, but some risks to labor market improvements exist,
which will weigh on local demand for hospitality services. An uptick in
visitors and stronger pricing power has allowed hotels and other
hospitality industries to increase payrolls. However, another year of
reduced spending by local governments, on K-12 education in
particular, has resulted in layoffs and other cuts. Tech manufacturers
have also slowed hiring. As a result, workers in these industries will be
less likely to increase their spending on restaurants.
Source: California Board of Equalization (www.boe.ca.gov)
HIGHLIGHTS &
DEVELOPMENT
$53.8million expansion project of
Charles M. Schulz-Sonoma
County Airport expected to begin
in August 2013. This expansion
will allow more flights to come
into Sonoma County’s airport,
expectedly increasing tourism.
Travel and Leisure Magazine
named Healdsburg Plaza one of
the “Most Beautiful Town
Squares in the US.”
Hotel Occupancy was up 11.4%
in 201
In 2012 visitor-generated taxes
made up $168 per household,
while tourism- related
employment accounted for almost
17,000 jobs in Sonoma County
(almost 1 in 10 jobs
According to a 2011 study by the
American Booksellers
Association, Sonoma County is
ranked 14th in the United States
based on the health of its
independent retail sector, this
study was conducted out of 363
metropolitan areas.
Sonoma County Tourism
Visit California
“Sonoma County has long been an attractive destination for visitors… We
certainly are anticipating that the county will continue the upward trend in
TOT revenues that we have enjoyed over the past few years.”
- Tim McGregor, board chairman of Sonoma County Tourism.
FOR MORE INFORMATION ABOUT SONOMA COUNTY TOURISM & UPCOMING EVENTS
PLEASE VISIT WWW.SONOMACOUNTY.COM
JULY 2013
Sonoma County Economic Snapshot
All data is subject to the most recent information available as of July 2013
The Economic
Development Board’s
Purchasing Trends
Index shows this to be
the second year that
Sonoma County has
scored higher than the
United States Index,
since 2007. This
quarter’s index score of
70 indicates that
businesses feel less
economically
challenged operating in
Sonoma County than in
the US as a whole.
4. Sonoma County Economic Snapshot
JULY 2013
“We really are a county of small businesses, almost micro businesses…”
- Ben Stone, executive director
Sonoma County Economic Development Board
This graph depicts a Business
Confidence index, by the Economic
Development Board, with information
from Sonoma County’s local business
leaders.
401 College Ave, Suite D
Santa Rosa, CA 95401-5148
707.565.7170 office • 707.565.7231 fax
www.sonomaedb.org
All data is subject to the most recent information available as of July 2013
Sonoma County has almost 18,000 businesses, most of which are
small in scale. Nine out of 10 companies in Sonoma County employ
fewer than 20 workers, according to a 2011 survey by the state
Employment Development Department.
According to the EDB’s study of the Sonoma County Economy,
prepared by Moody’s Analytics; Technology and Tourism are
expected to lead the county in growth in 2013. Technology, led by the
many medical device manufacturers in Sonoma County, and wine and
tourism are strengthening at a rate faster than the national average.
A trend that remains consistent into 2016 is the shrinking percentage
of households earning less than $35,000. The proportion of the county
in this range will decrease by 4.5 percentage points by 2016. This
trend, coupled with the increasing proportion of the county earning
over $100,000, will result in further concentration of households in
higher-income tiers.
QUICK FACTS