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08-09-2017 PC
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08-09-2017 PC
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_________________________________________________________________________________________ <br /> <br />Page 18 of 30 <br />median payroll of $32,999 per 1,000 square feet. Reviewing these figures, the industries can be <br />divided into three categories: Category 1 generating $200,000 or more of payroll per 1,000 <br />square feet; Category 2 generating between $100,000 and $200,000 of payroll per 1,000 square <br />feet; and Category 3 generating less than $100,000 of payroll per 1,000 square feet. <br /> <br />Category 1 industries are technical and professional industries that normally work in an office <br />building. Category 2 industries do not have the same level of commonality. Manufacturing has <br />a high median income ($114,941) but has an average of 1,000 square feet per employee, four <br />times the amount of the area for the average office employee. Health Care and Social <br />Assistance and Retail Trade have lower median incomes ($42,723 and $61,048 respectively) but <br />require less area per employee (400 square feet per employee). Administrative and Support is an <br />office based industry, but its median income ($38,730) is much lower than other office based <br />industries. Category 3 industries are either low wage industries (Arts and Entertainment; <br />Education; or Accommodations and Food Services) or better than average wage jobs requiring a <br />larger area per employee (Transportation and Warehousing or Wholesale Trade). <br /> <br />The disposable income figures were calculated by multiplying the salary per 1,000 square foot <br />column by 9.8%, which according to Business Analyst 1 is what the average household spends on <br />food away from home, alcoholic beverages, and entertainment and recreation. The disposable <br />income figure can show potential economic impact on the community, but employees will only <br />spend money in Arden Hills if there are businesses to spend that money in. In other words, <br />Category 1 industries will have their greatest impact on the local economy when there are <br />Category 3 businesses (Arts and Entertainment and Accommodations and Food Services) for <br />those Category 1 employees to spend their disposable income at. <br /> <br /> <br /> <br />1 Business Analyst is a data processing servicer that used ESRI technologies and US Census data. <br />Dr <br />a <br />f <br />t <br /> <br />08 <br />/ <br />0 <br />2 <br />/ <br />2 <br />0 <br />1 <br />7
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