Economy

KC topics that don't fit anywhere else.
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

earthling wrote: Thu Dec 02, 2021 12:54 pm ^Nashville labor force still below 2019. Their employment not quite up to 2019 level compared to KC above 2019.

Indy, Columbus notably trailing behind KC relative to 2019.

Source to other markets
So...were doing pretty well right now compared to peers?
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

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.
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

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.
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

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.
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

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)..
Image

Not surprisingly significantly outperforming STL City, lower than 10 years ago...
Image

But also outperforming STL County in percent employment growth over last 10 years..
Image

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...
Image
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

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/
dukuboy1
Alameda Tower
Alameda Tower
Posts: 1031
Joined: Sat Jan 04, 2020 12:02 pm

Re: Economy

Post by dukuboy1 »

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.
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

I think it’s that new city ordinance that’s killing us
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

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.
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

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/
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

A comprehensive report on the major commercial real estate sectors for KC metro...
https://www.colliers.com/download-artic ... 42d2f13c11
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

KC ranks well for highly skilled job growth relative to home price/income ratio...
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.
Image
earthling
Mark Twain Tower
Mark Twain Tower
Posts: 8519
Joined: Sun Sep 11, 2011 2:27 pm
Location: milky way, orion arm

Re: Economy

Post by earthling »

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.

Image

Here's US labor force, not yet caught up to 2019.
Image

US employment also not yet caught up to 2019..
Image


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.
User avatar
Cratedigger
Valencia Place
Valencia Place
Posts: 1813
Joined: Thu Dec 02, 2021 3:32 pm

Re: Economy

Post by Cratedigger »

Yellow moving HQ to Nashville. Surprising to me since they just signed a lease at Aspiria.

https://www.bizjournals.com/kansascity/ ... ville.html
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

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
That’s the thing, it’s not even really a move.

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.
User avatar
alejandro46
Alameda Tower
Alameda Tower
Posts: 1350
Joined: Fri Feb 02, 2018 11:24 pm
Location: King in the North(Land)

Re: Economy

Post by alejandro46 »

AlkaliAxel wrote: Thu Feb 10, 2022 12:00 pm
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
That’s the thing, it’s not even really a move.

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.
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.
User avatar
AlkaliAxel
Broadway Square
Broadway Square
Posts: 2948
Joined: Wed Jun 16, 2021 9:58 pm
Location: West Plaza

Re: Economy

Post by AlkaliAxel »

alejandro46 wrote: Thu Feb 10, 2022 12:08 pm
AlkaliAxel wrote: Thu Feb 10, 2022 12:00 pm
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
That’s the thing, it’s not even really a move.

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.
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.
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 there
User avatar
FangKC
City Hall
City Hall
Posts: 18141
Joined: Sat Jul 26, 2003 10:02 pm
Location: Old Northeast -- Indian Mound

Re: Economy

Post by FangKC »

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.
shinatoo
Ambassador
Posts: 7393
Joined: Wed Jan 19, 2005 3:20 pm

Re: Economy

Post by shinatoo »

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.
CrossroadsUrbanApts
Ambassador
Posts: 141
Joined: Wed Aug 06, 2014 9:16 pm

Re: Economy

Post by CrossroadsUrbanApts »

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
Post Reply