Our Picture of Health 1998:
Focusing on Community Health to the Year 2000CHAPTER 5: MESA COUNTY ECONOMY
”Economic development is the process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services.” — Economic Development Today
Value
- Economic development is the process of creating wealth through the mobilization of human, financial, capital, physical and natural resources to generate marketable goods and services.
Goals
- A. Mesa County will have access to broad markets through high-quality technological infrastructure and transportation.
- B. Mesa County will have an educational system that provides a high-quality work force with a positive work ethic and the skills necessary for local businesses to succeed.
- C. Mesa County will maintain job growth for its citizens.
- D. Mesa County will have a diversified economy that can withstand economic cycles and result in strong businesses that can pay well enough to keep our young people in the area.
- E. Mesa County will provide affordable, high quality child care opportunities so workers can feel safe about the nurturing of their families while they are at work.
- F. Mesa County will encourage and actively work toward a broad competitive market which results in wages that are high enough to support a family.
Introduction
Mesa County views a strong economy as an essential element of a healthy community.
A highly skilled work force, well-paying jobs, and thriving industries work together to provide balance and stability.
After the economic bust of the late 1980s, the community redoubled its efforts to diversify the industries in the region.
The Mesa County Economic Development Council was established to recruit high paying, clean industries.
Mesa County also established the Small Business Development Center to support entrepreneurs as they become established. The majority of businesses in Mesa County have fewer than five employees.
When people feel secure in their jobs and have an adequate income level, they:
- experience less stress
- are better equipped to focus on family life
- are physically healthier
- are more likely to receive preventive medical care
Most critically, a good job provides people with a sense of control over their lives and the ability to make better choices.
9. Wages by Industry and Job Type
Mesa County falls behind the state and nation in average wage compared to the cost of living (see Built Environment for information on affordability of housing).
Mesa County wages grew 15% from 1991-1996, while Colorado wages grew 19%.
Percent of Jobs by Industry Services 28.3% Retail 24.3% Government 16.6% Manufacturing 8.4% Construction 6.6% Transportation, Communication, and Public Utilities 4.9% Wholesale 4.3% Finance, Insurance, and Real Estate 4.1% Agriculture, Forestry, and Fisheries 1.6% Mining 0.9% Figure 5-1 shows the 1996 average annual wage for each industry. The two industries employing the most people pay the lowest wages.
Figure 5-1: Average Wages by Industry
Source: Colorado Department of Labor and Employment, 1996
10. Per Capita Income
In 1995, Mesa County's Per Capita Income (PCPI) ranked 33rd in Colorado, and was 78.9% of the state average and 81.5% of the national average.
The average annual growth rate of PCPI over the past 10 years was 4.6% for Mesa County and the State. The average annual growth rate for the nation was 4.9%.
Per Capita Income measures the total economy, while average wage best measures the labor market.
While 1995 is the most current year for which data is available, The Research Bureau estimates the 1997 per capita income for Mesa County to be $21,104, still below the state and national levels in 1995.
Figure 5-2: Per Capita Income
Source: USDOC/BEA, Survey of Current Business, August 1997
11. Unemployment Rate
Mesa County is enjoying its lowest ever unemployment rate, but the rate is still higher than the state and national averages. The demand for labor may increase wages.
Figure 5-3: Unemployment Rates
Source: CEDIS, Colorado Department of Labor
Underemployment is another issue examined in this study. While it cannot be measured, there are a number of highly trained people looking for professional work, particularly with the cutbacks in professional jobs.
To increase potential wage growth, some workers may need to sharpen technological skills to meet the growing demands of industry in the valley.
May link to . . .
- Education
- Annual Wage
- Poverty Levels
- Skilled Work Force
Next