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Paris, Texas Economic Drivers Assessment “Paris has a strong commitment to a diversified economy that has sustained her for decades.” Building our future…

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Presentation on theme: "Paris, Texas Economic Drivers Assessment “Paris has a strong commitment to a diversified economy that has sustained her for decades.” Building our future…"— Presentation transcript:

1 Paris, Texas Economic Drivers Assessment “Paris has a strong commitment to a diversified economy that has sustained her for decades.” Building our future… Presented by: Laurin Prather Expectations? Positive growth of any type, enhanced economic opportunities, and quality of life for the citizens…

2 2 Why Economic Development?  Enhance the general economic health of all citizens in the community Increase wages Improve benefits  Strengthen tax base  Create jobs  Increase goods and services available in the community  Improve image  Enhance the quality of life

3 3 The Survey Said… Improving Paris’ Economic Growth Searching for the Competitive Advantage!  Strategic Plan  Strong Civic Leadership  Trained Labor Force  Utilities/Infrastructure  Economic Development Funding  Transportation Paris Community Descriptions  Small town atmosphere  Historical  Family-oriented  Conservative

4 4 The Survey Said… Paris Perceived Weaknesses  Transportation  Splintered Leadership  Available Skilled Labor Force  Taxes  Housing  Appearance  Hospital-Merge Consultant view  Lack of four lane access to Interstate  Lack of available trained workforce  Lack of available buildings  Communications/Public Relations

5 5 The Survey Said… Economic Development Efforts  Retention of existing businesses  Workforce development/skilled labor force  Diversifying current mix of companies/industries  Recruiting non-high tech manufacturing  Recruiting health care services Prioritized Identified Business sectors  Industrial  Medical  Commercial/Services  Retail  Technical

6 6 Age  Overall, Paris has an older population.  Median age for 2007 reveals: Paris (37.2 years), Lamar County (38.4 years), Median age is forecast to steadily increase through 2012  Health care providers  Medical facilities  Part-time job opportunities

7 7 Racial Mix  Studying residents’ ethnic backgrounds reveals much about workforce preferences and needs. The Chart depicts the racial distribution of citizens within Paris, which is predominantly Caucasian.  Ethnic diversity will expand through 2012, as experts believe the US will continue to become more ethnically diverse in the future.  Not shown in the chart is only five percent of Paris’ population has Hispanic origins, which is considerably smaller than most Texas communities and 24% is African-American.  Cultural food products  Specific marketing programs addressed to lower incomes

8 8 Household Income Levels  Residents of Paris have fairly low incomes.  Notice there are few people with high incomes and a large number with incomes under $15,000.  However, Paris’ 2007 median household income level is somewhat lower than Lamar County. Paris $34,346; Lamar County $38,252; Income in Paris is forecast to grow steadily through 2012  Focus on higher paying jobs! Small to mid-range manufacturing and commercial  General retail opportunities  Specialty retail (focused at older population)

9 9 Educational Attainment  Educational attainment statistics partially explain low income levels in Paris, since education generally correlates with income.  As shown in the Chart, the majority of residents have completed high school.  Paris also has a significant number of people with elementary-level education.  Twenty-seven percent of residents over 25 years of age never completed high school.  Strong “Life Skills” training programs through high school or Paris Junior College  Identify labor (indicate skills and availability)  Provide job training for new companies locating in Paris

10 10 Population Growth  The Chart shows population growth in the Paris since Paris has experienced growth at times during the past three decades.  From 1990 to 2000, the community has grown: Paris +4.9% We forecast that Paris will expand to 27,1666 residents by  Encourage development by offering bold and meaningful development incentives  Market Paris as the regional purchasing center  Continue pro-active relationships with regional communities to collectively market the region  Encourage basic retail and services

11 11 Civilian Labor Force Growth  Labor force growth in Paris has been slow, yet positive since In fact, from 2000 to 2006 civilian labor force growth in the City of Paris (5.1%) significantly outpaced the growth in Lamar County (3.8%).  Additionally, Paris witnessed an increase in unemployment from 2000 (5.8%) to 2006 (6.9%).  Unemployment in Lamar County increased slightly from 2000 to 2006, and ended at 5.5%.  Create more job opportunities for all citizens through the location of new retail, commercial, and industrial operations

12 12 Employment by Industry  The Charts give an indication of the abilities and skills of Paris’ residents, as opposed to the community’s labor pool. However, this information gives insight into the overall composition of area workers.  Paris has a massive quantity of people employed in services.  Additionally, a large number of residents work in wholesale and retail trade.  Paris has proportionately more white-collar occupations than blue-collar.  Target additional manufacturing jobs and higher level “service” sector businesses

13 13 Average travel time to work  Most residents remain in the local area for employment.  Additionally, 1.6% of residents worked at home.  Average commute times for 2000 totaled: Paris (16.4 minutes), Lamar County (20.1 minutes),  Support for small business  Support for “work at home” businesses which will increase over the decade  Work to create local job opportunities

14 14 TXU Delivery Eastern Region Community/Targets  Aviation  Back Office  Bio-tech  Electronics  Food Processing 3  Food Products  Distribution 6  High Tech  Manufacturing  Mfg-Medical 2  Metal Fabricating 2  Metal Machinery  Plastics 2  Plastic Products  Semiconductor  Telecom 2  Warehousing 2  Wood Products

15 15 TXU Delivery-Eastern Region Eastern Region-SIC  20 Food and Kindred Products (Food Processing)  30 Rubber and Misc. Plastic Products (Plastics)  42 Motor Freight Transportation Services (Warehousing) 24 Lumber and Wood Products 26 Paper and Allied Products 27 Printing, Publishing and Allied Ind 34 Fabricated Metal Products 35 Industrial and Commercial Machinery and Computer Equipment

16 16 Shift/Share Analysis North East Texas Greatest Likelihood for Potential Job Opportunities  621 Ambulatory Health Care Services  611 Education Services  722 Food Services & Drinking Places  561 Administrative & Support Services  444 Building Material & Garden Supply  238 Specialty Trade Contractors  488 Support Activities for Transportation  485 Transit & Ground Passenger Transportation  443 Electronics and Appliance Stores  518 ISPs, Search Portals, & Data Processing  523 Financial Investment & Related Activities Texas Comptroller 8/7/2007

17 17 Shift/Share Analysis North East Texas (Cont.) Potential Comparative Advantage  336 Transportation Equipment Manufacturing  311 Food Manufacturing  622 Hospitals  452 General Merchandise Stores  522 Credit Itermediation & Related Activities  929 State Government  441 Motor Vehicle and Parts Dealers  333 Machinery Manufacturing  524 Insurance Carriers & Related Activities  453 Miscellaneous Store Retailers Texas Comptroller 8/7/2007

18 18 Shift/Share Analysis North East Texas (Cont.) Potential Comparative Advantage (Cont.)  811 Repair and Maintenance  113 Forestry and Logging  451 Sporting Goods/Hobby/Book/Music Stores  325 Chemical Manufacturing  813 Membership Organizations & Associations  446 Health and Personal Care Stores  337 Furniture and Related Product Manufacturing  322 Paper Manufacturing  111 Crop Production  339 Miscellaneous Manufacturing Texas Comptroller 8/7/2007


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