01-22-08 1B Market Study - Laserfiche WebLink

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EMPLOYMENT TRENDS AND CHARACTERISTICS . A Land O'Lakes representative said she felt her employees, all of whom are profession- al/managerial (average salary $70,000), would be most interested in for-sale housing. She thought for-sale condos and townhomes would be a welcome addition in the area and would like to see retail in the mix. She said employees moving here from other parts of the country find housing prices higher than expected. "It is not an afTordability issue, but it is more like '1 can get a lot more house for $300,000 in St. Louis than I can in the Twin Cities.'" . Deluxe Corporation has a total of2,200 employees in Shoreview, 600 of which are call- center employees making $11.85 per hour plus incentives. Their HR representative said that while she has not heard complaints about difficulty finding housing, these call-center work- ers would probably prefer a shorter commute. . Most employers contacted stated that they had heard no specific complaints about availability of housing, but many did note that their employees make long commutes. The HR repre- sentative for Smith Medical reported that most of its employees live in Eagan, Bloomington and Stillwater. She says she feels it is because of the quality ofthe schools in those areas. . Land O'Lakes was the only company to do a "scatter-gram" search of where its employees lived. It found a core group in Woodbury and Oakdale and another in Blaine and Lino Lakes. Since the 150 employees the company added in Arden Hills last September were transferred from a facility in Inver Grove Heights, those employees are likely to be the ones living in Woodbury and Oakdale. . Health & Rehab New Brighton (formerly Trevilla and Extendicare Homes Inc.) employs 100 nursing assistants who make $11-$17 per hour. An HR representative stated that most of these workers live in Brooklyn Park and Brooklyn Center, but would prefer to live closer. These workers may be most interested in townhouse rental. Nurses typically own their own homes and live north of the area and in Wisconsin. They would also prefer to live closer if they could find "something nicer at the same price." . A Boston Scientific representative was unavailable for comment. The company is in the process of restructuring and eliminating positions at its Arden Hills facility. . Fair Isaac reports that its 300 employees in Arden Hills are "highly compensated" and do not have housing concerns. They are able to live wherever they choose. Regional Employment Growth Trends Since employment growth generally fuels household growth, employment trends are a reliable indicator of housing demand. Table 9 shows that Arden Hill residents are employed in commun- ities across the Metro Area, with a large number working in St. Paul and Minneapolis. Thus, we examine employment growth trends for the larger Metro Area. Recent employment trends for the Arden Hills Market area are shown in Table 10. Table 12 presents employment data for Hennepin, Ramsey and Anoka Counties from 2000 through 2007. MAXFIELD RESEARCH INC. 33