A healthy economy is needed to provide jobs for our residents and raise the standard of living for our lower income citizens. A healthy economy also provides the necessary tax base needed to provide public services. When integrated with the land use, transportation and utility elements of a comprehensive plan, economic development policies can promote an efficient pattern of growth that supports our sense of place.
The County currently has a strong economy as demonstrated by the following indicators:
Share of Regional Jobs
A net in migration of workers indicates strong job formation compared to the region. Washtenaw County has a large number of workers commuting into the County to work. According to the 2000 census, over 70,000 people commute into the County for work compared to 40,000 county residents commuting out of the County for work. Ratio of Population to Jobs: In 1990, the ratio of residents (16 years and older ) in the labor force to jobs was 10:7. In 2000 this ratio is nearly 10:8. Over the next 20 years, job growth is projected to increase by 20.5 percent, from the current 232,175 jobs in the County to 279,741 by 2020 (an increase of 47,566 jobs).
Unemployment Rates
Washtenaw County consistently has had annual unemployment rates lower than both the State and U.S. averages (Figure 6-2). In 2002, Washtenaw County had the lowest unemployment rate in the State of Michigan at 2.9 percent. Currently, the unemployment rate in the County is 3.2 percent, compared to 7.5 percent at the State level.
Median and Per Capita Income: A according to the 2000 U.S. Census, Washtenaw County's median household income was $51,990, exceeding the median household income for the State of $44,667. Similarly, the per capita income for Washtenaw County of $27,173, is also higher than the $22,168 State average.
Economic Tax Base
With a taxable value of approximately $5.5 billion, businesses represent nearly 50 percent of the total taxable value of the County. This $5.5 billion generates $128.5 million annually in taxes for the County and various taxing entities. By contrast, the residential tax base generates about $100 million annually (much of the difference is attributable to the additional $18.00/$1000 value that businesses pay into the state school aid fund under Proposal A). Businesses directly subsidize many of our community services.
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