2011 CAFR Executive Summary - Laserfiche WebLink

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City of South Bend as is proximity to the University of Notre Dame, with its scenic campus located adjacent to the city limits. St. Joseph County/South Bend - Economic Conditions and Outlook St. Joseph County, with its 2010 U.S. Bureau of the Census population of 266,931,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 experienced a net growth in population of 28,317 (11.8% increase) between 1960 and 2010. 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 population of St. Joseph County has remained fairly flat during the past decade increasing by only 1,372 residents from 2000 to 2010. The total resident labor force in December 2011 of 129,438 in St. Joseph County is typical of the Midwest: well trained with a strong work ethic. Approximately 86.4% of the area's adult population are high school graduates or higher(as compared to the national average of 75%) with an estimated 25.6% with a Bachelor's Degree or higher. There are eight colleges, universities and technical schools within South Bend and the surrounding area including the University of Notre Dame, Indiana University at 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. As of April 2012, St. Joseph County is experiencing an unemployment rate of 8.9%, which is higher than the State of Indiana unemployment rate of 7.7%. The unemployment rate in St. Joseph County compares favorably with many of its surrounding counties—Elkhart (8.7%), LaPorte (9.6%), and Marshall (8.1%) in Indiana and Cass (6.3%) and Berrien (8.2%) in Michigan. The employment profile for St. Joseph County provides a good overview of the economic make- up of this community. Employment statistics for 2010 (2011 data was unavailable) of the County's major economic sectors are as follows: Economic Sector Number Employed % of Total Construction 3,916 3.5% Manufacturing 13,850 12.4% Health Care/Social Services 17,676 15.9% Wholesale Trade 5,624 5.1% Retail Trade 13,620 12.2% Professional/Technical Services 4,341 3.9% Accommodations/Food Service 9,578 8.6% Educational Services 15,712 14.1% Other 26.981 24.3% Total 111,298 100.00% St. Joseph County presently has an estimated 103,069 households with an average per capita personal income of$33,322, which compares to the State of Indiana average per capita income of 4