Annual_Report_1988_001 - Laserfiche WebLink

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groups, departments, agencies, boards, commissions, and other organizations over which City officials exercise oversight responsibility. Oversight responsibility includes such aspects as appointment of governing body members, budget approval, approval of property tax levies, outstanding debt secured by City full faith and credit or revenues, responsibility for funding deficits, and others. As a result of applying the criteria of NCGA Statement 3, the Fire Relief Association and Independent School Districts #621 and #623 have been excluded from the City's Financial statements. Bconomic Condition and Qutlook Summary of Local Economy The Metropolitan area was economically strong in 1988, with unemployment at approximately 3.5$ as compared to the U.S. average of 5.5�. Roseville, as part of suburban Ramsey County had an unemployment rate of approximately 3.3�, illustrating a slightly stronger economy in our immediate trade and employment area. The most recent retail sales data does indicate the City of Roseville is continuing to be one of the major retailing centers of the Metropolitan area. Retail sales within the city have had a 6.7� compounded growth over the past 5 years. Total State of Minnesota retail sales have an equivalent period compounded increase of 5.8%. Major Industries Local employers found 1988 a continuing growth year. The City's two major employers, Unisys Corporation and NCR Comten continue to provide nearly 8,000 hi-tech jobs. The commercial and retail sector continued to provide a strong employment market as good general business conditions prevailed through 1988. Future Economic Outlook The Metropolitan Council has estimated that Roseville will have 45,000 jobs by 2000. A steady growth from today's level and a growth that will exceed the City's population. It is expected Roseville's population growth will remain steady at approximately 35,000. Based on current planning and developer initiatives, the City will continue to be a major commercial and retail center in the northeast Twin City Metropolitan area. Indications are that property values will continue to grow at a higher than average rate.