2006 Comprehensive Annual Financial Report

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advantage to the City of South Bend. St. Joseph County /South Bend -Economic Conditions and Outlook St. Joseph County, with its 2000 U.S. Bureau of the Census population of 265,559, boasts a strong history of manufacturing which continues today. As a complement to that, the service industry and retail trade has also flourished, creating a balance that serves the community well. . The County has experienced a net growth in population of 26,945 (11.3% increase) between 1960 and 2000. After experiencing a reduction of 2.6% during 1969 to 1983, at which time the entire Midwest was at the depth of its economic restructuring and recess, the County's population increased 4.0% between 1983 and 1990 and another 7.5% between 1990 and 2000. The total resident labor force in December 2006 of 136,217 in St. Joseph County is typical of the Midwest: well trained with a strong work ethic. Approximately 77.7% of the area's adult population are high school graduates or higher (as compared to the national average of 75%) with an estimated 20.3% with a Bachelor's Degree or higher. There are nine colleges, universities and technical schools within South Bend and the surrounding area including the University of Notre Dame, Indiana University of South Bend, Saint Mary's College, Bethel College and Ivy Tech State College. At the high school level, there are school-to-work transition programs that help prepare students for the world of work. St. Joseph County is currently experiencing an average unemployment rate of around 5.1 %, which compares to the December 2006 State of Indiana unemployment rate of 5.0%. The employment profile for St. Joseph County provides a good overview of the economic make- up of this community. Employment statistics for the County's major economic sectors are as follows: Economic Sector Construction Manufacturing Health Care/Social Services Wholesale Trade Retail Trade ProfessionaUTechnical Services Accommodations/Food Service Goverrunental Number Employed % of Total 8,097 5.1 18,845 11.8% 19,021 11.9% 7,427 4.7% 18,439 11.6% 7,828 4.9% 10,493 6.6% 15,498 9.7% St. Joseph County presently has an estimated 100,743 households with an average per capita personal income of $32,354, which compares favorably to the State of Indiana average per capita income of $31,173. Health and education lead the employment statistics for St. Joseph County. The largest employers in St. Joseph County as of December 2006 were as follows: University of Notre Dame (4,200); Memorial Health Systems (3,600); South Bend Community School Corporation (3,338); Saint Joseph Regional Medical (3,260); AM General (2,292); St. Joseph County (2,025); The Diocese of Fort Wayne/South Bend (1,750); Indiana University of South Bend (1,400); The City