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Bakersfield, California Flourishing within Kern County.

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Presentation on theme: "Bakersfield, California Flourishing within Kern County."— Presentation transcript:

1 Bakersfield, California Flourishing within Kern County

2 Employment and Cost of Living

3 Kern County…Looking Forward

4 Employment, % change yr ago, 3-mo MA Sources: BLS, Moodys Analytics Jobs Momentum Will Extend into 2012

5 Job Growth In Bakersfield Surpasses U.S. Non-farm employment United States Bakersfield California

6 Job Growth Comparison across California Metros Non-farm employment Silicon Valley San Diego United States Los Angeles Bakersfield

7 Five-year Job Growth 2005–2010 Five-year Wage and Salary Growth 2004–2009 Overall Index 2011

8 Working-Age Population (Ages 18-64) Growth Relative to 2005

9 Employment & Unemployment 2008-20092010-201120102011 Nonfarm Jobs-15,300+7,900+2,300+5,600

10 Sources: BLS, Moodys Analytics Employment, % change year ago Employment Growth Will Be Broad Based

11 Agricultural and natural resources employment, % of total Sources: BLS, Moodys Analytics … Due to Makeup of Core Industries

12 Sources: BLS, Moodys Analytics, WSJ Oil Prices Spur Natural Resources Jobs

13 Cost of doing business, 100=U.S. Source: Moodys Analytics Low Operating Costs Are an Asset

14 Housing affordability, % of median house/income Sources: Moodys Analytics Valley Regains Housing Affordability Edge

15 Housing Prices Remain Low

16 Bakersfield Has Ranked High Among Best-Performing Cities 2007–2011

17 Business Overview IndustryEmployment 2008 Projected Employment 2018 Growth Percentage Professional Services25,00031,30025.2% Healthcare Services23,60033,30041.1% Transporation/Warehousing9,60010,70011.5% Energy and Natural Resources10,70011,4006.5% Manufacturing13,70015,50013.1% Agriculture49,60048,800-1.6% Local Industry Projections CompanyBusiness TypeNumber of Employees Grimmway EnterprisesAgriculture4,600 Giumarra VineyardsAgriculture3,500 Mercy & Memorial HospitalsHealth Care3,053 Wm. Bolthouse FarmsAgriculture2,350 San Joaquin Community Hospital Hospital2,100 ChevronOil Production1,500 State Farm InsuranceInsurance1,269 Paramount CitrusAgriculture1,000 Aera Energy LLCEnergy950 Kaiser PermanenteHealth Care850 Rio Tinto Minerals-BoraxChemicals813 Sun WorldAgriculture800 Target Distribution CenterRetail Distribution661 Frito LayFood Processing632 Kern Countys Top Private Employers Annual Base SalaryCitySalary Required to Maintain Same Quality of Life in Bakersfield, CA $50,000.00Fresno, CA$44,991 $50,000.00Los Angeles, CA$36,926 $50,000.00Riverside, CA$43,998 $50,000.00San Francisco, CA$30,103 $50,000.00San Diego, CA$37,881 $50,000.00Sacramento, CA$42,753 Annual Salary Comparison

18 Quality of Life Cost of Living Index RentTotal Percentage Less than $2002.0% $200 - $2993.3% $300 - $4999.1% $500 - $74924.5% $750 - $99924.4% $1,000 - $1,49924.2% $1,500 or more12.5% Median Rental Cost$855 Rent Paid in Kern County Climate – Bakersfield and Kern County Average Annual Temperature 65.3º F Average High 76.9º F, Average Low 53.6º F January Temperature Average High 56.0º F, Average Low 39.0º F July Temperature Average High 97.0º F, Average 70.0º F Precipitation – Annual Rainfall 5.4 Inches

19 Quality of Life AreasBakersfieldFresnoRiversideSan DiegoLos Angeles Peak Time Travelers (per day)300,000380,0001.1 million1.7 million7.2 million Freeway Vehicle-Miles of Travel (per day)2.2 million3.9 million23.3 million37.4 million132.2 million Congested Travel During Peak Time (per day)34%42%81%74%93% Time Lost/Peak Traveler (per year)10 hours13 hours31 hours38 hours64 hours Congestion Cost/Peak Traveler (per year)$232$260$684$794$1,334 Gross Domestic Product (GDP) San Joaquin Valley 2001 - 2010 2011 Annual Commute Pattern Comparisons


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