So...were doing pretty well right now compared to peers?
Economy
- AlkaliAxel
- Broadway Square
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- Mark Twain Tower
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Re: Economy
Just by one measure that is based on surveys, not a hard count. But it's a major data point that is factored by Feds to bankers to investors so has relevance whether accurate or not.
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- Mark Twain Tower
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Re: Economy
Gross Metro Product is another major indicator of metro economy and we only have mid-2020 forecast as last reference but it looks like KC may have not taken as hard of a hit with GMP as peer cities. For the last decade KC's per capita GMP was slipping behind US average (partly due to slower wage growth) but GMP might be above US average now given KC probably didn't get hit as hard in 2020 and now apparently recovering faster than US avg in 2021.
KC's GMP estimate shows down 6% compared to -9% for Columbus, -7% for STL, Nashville, Indy and most large markets hit harder than KC except most hot ones.
https://www.usmayors.org/wp-content/upl ... nomies.pdf
Doesn't matter whether we trust the GMP/BLS data or not, decisions are made partially factoring these data points regardless so worth tracking.
KC's GMP estimate shows down 6% compared to -9% for Columbus, -7% for STL, Nashville, Indy and most large markets hit harder than KC except most hot ones.
https://www.usmayors.org/wp-content/upl ... nomies.pdf
Doesn't matter whether we trust the GMP/BLS data or not, decisions are made partially factoring these data points regardless so worth tracking.
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- Mark Twain Tower
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Re: Economy
While employment numbers looking great for KC, average hourly earnings seem to be KC's biggest hurdle economically, has apparenrtly declined according to this source so hard to say what 2021 GMP will show.
Click on 'view map' in link to see wages in other markets.
Click on 'view map' in link to see wages in other markets.
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- Mark Twain Tower
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Re: Economy
County employment based on employment of residents, not where the jobs are located. Take with grain of salt as they are based on surveys and can be revised later.
WyCo, traditionally the metro's most troubled county, is on a roll over last 8 years and a solid jump over last year (comparing Octobers)..
Not surprisingly significantly outperforming STL City, lower than 10 years ago...
But also outperforming STL County in percent employment growth over last 10 years..
JaxCo doing fairly well too recently though did stall a few+ years ago. JaxCo significantly outperformed STL County in raw employment growth over last 10 years even though STL Co larger. All KC metro counties are above 2019 employment as measured by workers, while US not yet caught up to 2019...
WyCo, traditionally the metro's most troubled county, is on a roll over last 8 years and a solid jump over last year (comparing Octobers)..
Not surprisingly significantly outperforming STL City, lower than 10 years ago...
But also outperforming STL County in percent employment growth over last 10 years..
JaxCo doing fairly well too recently though did stall a few+ years ago. JaxCo significantly outperformed STL County in raw employment growth over last 10 years even though STL Co larger. All KC metro counties are above 2019 employment as measured by workers, while US not yet caught up to 2019...
- AlkaliAxel
- Broadway Square
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Re: Economy
This seems really bad.
Techstars closes Kansas City accelerator as global network focuses on larger-growth markets
https://www.startlandnews.com/2021/12/t ... nsas-city/
Techstars closes Kansas City accelerator as global network focuses on larger-growth markets
https://www.startlandnews.com/2021/12/t ... nsas-city/
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- Alameda Tower
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Re: Economy
I guess we are destined to be Dodge City instead of Denver. It would be nice if KC could become a global Agri-Buisness player and Logistics Innovator. Focus in on those 2 areas and then related filed in bio-sciences; both animal and human health. It just seems we have some great industries but no major focus on any one thing. Tech is always great and we made great strides but we are fighting a battle that seems we cannot win or are hampered in no matter what.
- AlkaliAxel
- Broadway Square
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Re: Economy
I think it’s that new city ordinance that’s killing us
- AlkaliAxel
- Broadway Square
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Re: Economy
I think it’s time we stop resting on the success of the P&L live district and build more entertainment. The south loop cap would even count. We just need more now. This week has been heel for development in KC. The rents are going down, the pipeline is going dry, these affordable housing regulations are killing the buildings.
- AlkaliAxel
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Re: Economy
Big moves for this KC crypto startup! Celebrity investors, KCRise Fund back $9M strategic seed for Overland Park NFT startup.
Mark Cuban is one of them, and he even have a quote on why he loves this startup.
https://www.startlandnews.com/2022/01/c ... ark-cuban/
Mark Cuban is one of them, and he even have a quote on why he loves this startup.
https://www.startlandnews.com/2022/01/c ... ark-cuban/
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- Mark Twain Tower
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Re: Economy
A comprehensive report on the major commercial real estate sectors for KC metro...
https://www.colliers.com/download-artic ... 42d2f13c11
https://www.colliers.com/download-artic ... 42d2f13c11
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- Mark Twain Tower
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Re: Economy
KC ranks well for highly skilled job growth relative to home price/income ratio...
https://www.cbre.com/insights/briefs/hi ... lled-labor
https://www.cbre.com/insights/briefs/hi ... lled-labor
Cities with the highest growth prospects tend to have both highly skilled workforces and moderately priced housing. Basically, a skilled labor force attracts high-productivity firms, while cheaper housing attracts labor. These cities are clustered within the lower right quadrant of the chart and include high-growth cities across the Southeast (e.g., Raleigh, Atlanta), Texas and the Mountain time zone. These cities benefit not only from growth in high-tech sectors, but robust in-migration from pricier markets that drives growth in localized sectors, such as construction, retail and health care.
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- Mark Twain Tower
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Re: Economy
December 2021 BLS employment for KC metro as reported by labor force/workers...
Labor Force keeps growing and never slowed down during start of pandemic relative to other Decembers (in other words, downturn caught back up by Dec). Many comparable markets still not caught up to 2019.
Here's US labor force, not yet caught up to 2019.
US employment also not yet caught up to 2019..
Here are Columbus, Cincy, STL, Nashville, Indy, Austin and MSP, MSP is oddly not recovering too well by this measure and none recovering as well as KC except Austin still rocketing up.
Labor Force keeps growing and never slowed down during start of pandemic relative to other Decembers (in other words, downturn caught back up by Dec). Many comparable markets still not caught up to 2019.
Here's US labor force, not yet caught up to 2019.
US employment also not yet caught up to 2019..
Here are Columbus, Cincy, STL, Nashville, Indy, Austin and MSP, MSP is oddly not recovering too well by this measure and none recovering as well as KC except Austin still rocketing up.
- Cratedigger
- Valencia Place
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Re: Economy
Yellow moving HQ to Nashville. Surprising to me since they just signed a lease at Aspiria.
https://www.bizjournals.com/kansascity/ ... ville.html
https://www.bizjournals.com/kansascity/ ... ville.html
- AlkaliAxel
- Broadway Square
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Re: Economy
That’s the thing, it’s not even really a move.freedog wrote: ↑Thu Feb 10, 2022 9:06 am Yellow moving HQ to Nashville. Surprising to me since they just signed a lease at Aspiria.
https://www.bizjournals.com/kansascity/ ... ville.html
They say that all the current employees are just gonna stay where they’re at, and basically just the executives are moving to Nashville because the CEO lives there and it seems forced a move.
All the employees are still going to Aspiria. The CEO just wanted to keep living in Nashville.
- alejandro46
- Alameda Tower
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Re: Economy
It seems like a waste of money especially for a firm that was near bankruptcy not too long ago. The CEO should sit where the majority of the company is, not build out an expensive new office just for him/execs. He already makes $2M+ a year, just suck it up and work in Overland Park.AlkaliAxel wrote: ↑Thu Feb 10, 2022 12:00 pmThat’s the thing, it’s not even really a move.freedog wrote: ↑Thu Feb 10, 2022 9:06 am Yellow moving HQ to Nashville. Surprising to me since they just signed a lease at Aspiria.
https://www.bizjournals.com/kansascity/ ... ville.html
They say that all the current employees are just gonna stay where they’re at, and basically just the executives are moving to Nashville because the CEO lives there and it seems forced a move.
All the employees are still going to Aspiria. The CEO just wanted to keep living in Nashville.
- AlkaliAxel
- Broadway Square
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Re: Economy
Seems like a similar situation to where the Chipotle CEO forced everyone out of Denver HQ to move to Huntington Beach just because he lived therealejandro46 wrote: ↑Thu Feb 10, 2022 12:08 pmIt seems like a waste of money especially for a firm that was near bankruptcy not too long ago. The CEO should sit where the majority of the company is, not build out an expensive new office just for him/execs. He already makes $2M+ a year, just suck it up and work in Overland Park.AlkaliAxel wrote: ↑Thu Feb 10, 2022 12:00 pmThat’s the thing, it’s not even really a move.freedog wrote: ↑Thu Feb 10, 2022 9:06 am Yellow moving HQ to Nashville. Surprising to me since they just signed a lease at Aspiria.
https://www.bizjournals.com/kansascity/ ... ville.html
They say that all the current employees are just gonna stay where they’re at, and basically just the executives are moving to Nashville because the CEO lives there and it seems forced a move.
All the employees are still going to Aspiria. The CEO just wanted to keep living in Nashville.
- FangKC
- City Hall
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Re: Economy
I have said several times on this forum that headquarters often are placed where the CEO/owner and executives live and not necessarily in a downtown area or a site centrally located for their employees.
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- Ambassador
- Posts: 7447
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Re: Economy
Conagra moved from Omaha to Chicago because the CEO's wife likes to shop on Michigan Ave (probably not but that's the narrative). If you had a job in the Omaha HQ your choices were to move to Chicago on your own dime with no pay raise or lose your job.
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- Ambassador
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Re: Economy
Here's a great story on that suburban-style Conagra campus along the Missouri River and its destruction of Jobbers Canyon - until then one of the largest U.S. historic warehouse districts in the country.
https://omaha.com/business/local/big-bu ... b99d3.html
https://omaha.com/business/local/big-bu ... b99d3.html