2005 Comprehensive Annual Financial Report

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St. Joseph County 1 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 labor force in December 2005 of 136,270 in St. Joseph County is typical of the Midwest: well trained with a strong work ethic. Approximately 82.4% of the area's adult population are high school graduates or higher (as compared to the national average of 75 %) with an estimated 23.6% with a BacheIor's Degree or higher. There are ten 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 5.3 %, which compares favorably to the December 2005 State of Indiana rates of 5.4 %. 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 Transportation, Communication & Public Utilities Wholesale Trade Retail Trade Finance, Insurance & Real Estate Services Governmental (excluding Federal) Number Employed % of Total 6.2 3.06% 21.7 10.74% 4.5 2.22% 7.6 3.76% 17.3 8.56% 7.2 3.56% 121.5 60.14% 16.0 7.96% St. Joseph County presently has an estimated 98,500 households with per household income as follows: 12% with household incomes that exceed $75,000; 18% with incomes $50,000 to $75,000; 25% with incomes $35,000 to $49,999; 18% with incomes $25,000 to $34,999; 15% with incomes $15,000 to $24,999; and the remaining 12% with household incomes under $15,000 per year. The median household effective buying income (disposable income after taxes) in the County in 2000 was $40,420, which equated to more than $4.36 billion in effective buying income for this area. Health and education lead the employment statistics for St. Joseph County. The largest employers in the County as of December 2005 were as follows with approximate number of vii