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Home My WebLink AboutEconomic Development Brochure 2006 (2)Ý·¬§ ±º ß«¾«®² Business Outlook 2006 Community Pro¿ le Auburn Market Area Demographics When it comes to economic growth, Auburn Projected has been leading the 200020052010 region! Population152,542162,740172,395 Households57,18461,14464,827 The Auburn area has Median age33.334.234.7 more available land at Average reasonable prices than household any other urbanized income$55,898$64,744$76,784 area in King County. The community boasts a large, capable labor Homes (within a ¿ ve-mile radius of downtown) force, cooperative City Projected government, a city 200020052010 Economic Development Manager, a Small Business Average Assistance Center and a Chamber of Commerce value$155,942$219,632$285,255 committed to working closely with area businesses. Owner- occupied More than a third of Auburn’s land is developed, homes57.6%62.060.3% providing a solid industrial and business base. The remaining raw land is still very affordable. In fact, Renter- no other easily accessible area in King County has occupied land so reasonably priced. In regard to workforce homes38.934.3%35.2% readiness, the Auburn area draws from a skilled and Vacant mobile labor force of well over one million people who housing units3.6%3.8%4.4% live within 20 easily traveled miles. Auburn’s economic Employment indicators remain very impressive. 20002005 Auburn is a great place to invest and do business. In In labor force70.5% 93.2% the last ten years, we have seen the development of Not in labor 29.5% 6.8% a new YMCA, a new Justice Center and downtown force revitalization. The SuperMall of the Great Northwest, Emerald Downs Race Track, Muckleshoot Casino, City of AuburnAuburn 5-Mile Auburn Performing Arts Center, White River Valley PopulationMarket Area Museum, White River Amphitheatre, Washington 198026,417N/A National Golf Course, the commuter rail station and 199033,102N/A the new Safeway distribution center. 200042,901152,215 The $11 million Ace Project that is underway will place 200445,355161,242 a full service hotel, a 5,000-square-foot indoor water- 200648,747164,740 park, 2,000-square-foot conference center, 2,000- 201055,000172,395 square-foot spa, 3,000-square-foot working turn-of- (Projected) the-century hardware store museum, two restaurants, and nearly 40 condominiums right in downtown Auburn by winter 2006. The area surrounding the SuperMall will continue to develop, as will the 277 th Street business corridor in North Auburn. Ý·¬§ ±º ß«¾«®² Business Outlook 2006 Major Employers*Population Growth Auburn straddles the county lines of South King and Auburn New Car Franchise Dealerships North Pierce counties. The area is one of the fastest Auburn Regional Medical Center growing in the Puget Sound region. The South Sound Auburn School District area now boasts of having over a million residents. Boeing During the last ¿ ve years, within a ¿ ve-mile radius of Certainteed Corporation downtown Auburn, over 10,000 people chose Auburn City of Auburn as their new home. If projections prove correct, by Emerald Downs Race Track 2010 another 9,655 people will have chosen the Federal Aviation Administration Auburn area as their new address. General Services Administration Household Income Green River Community College During the last ¿ ve years, the average median Iron Horse Casino household income grew 14 percent, from $46,788 Key Bank Call Center in 2000 to $53,136 in 2005 and is expected to grow LiveBridge, Inc. another 14 percent in the next ¿ ve years. Muckleshoot Casino/Enterprises Oak Harbor Freight Lines Housing Safeway Distribution Center From 2000 to 2003, the number of housing units in Social Security Administration the 5-mile radius of downtown Auburn grew from SuperMall of the Great Northwest 59,296 to 63,475. Forecasts show that another 3,837 Toysmith homes will be built here by 2010. Local home values Zones, Inc.are ramping up quickly. In just ¿ ve years the median value of a home in Auburn increased by 42% from *Listed alphabetically $155,689 in 2000 to $219,632 by the end of 2005. However, even at current values, homes in the Auburn Taxes area cost 70 percent less than the median price Property tax: .........................$2.93 per $1,000 of a single-family home in King County, which was $374,000. Water, sewer, storm & solid waste utility tax: ....................................6% Job Creation (included in rates charged to the customer) Auburn leads South King County in job creation. Electric utility tax: ..........................................6% The percentage of the population in the labor force increased from 70.5% of the population in 2000 to Natural Gas utility tax: ..................................6% 93.2% in 2005! Unemployment dropped from 29.5% Telephone utility tax: .....................................5% to 6.8%. The future continues to look promising as Sales tax: ......................................................8.8% more businesses are attracted to the Auburn area and the downtown business area undergoes a dynamic Cable TV Franchise Fee: ..............................5% re-vitalization. Ý·¬§ ±º ß«¾«®² Business Outlook 2006 Average Age and Education A beautiful new commuter rail station opened in The average age within a ¿ ve-mile radius is 34.2, Auburn in the fall of 2001. Five trains each way now with the greatest percentage (44.9 percent) falling carry commuters from Tacoma through Auburn to within the ages of 15-54. More than half, 56.8 Seattle with plans to add more trips and extend the percent, graduated from college or have some college service north to Everett and south to Lakewood. education.Nearly 500 people board the Sounder trains from Auburn each workday morning. Bus routes are A Strategic Transportation Hub synchronized to connect with train arrivals. The Located between Seattle and Tacoma in the Green adjacent six-story commuter-station parking-garage River Valley, Auburn has ready access to regional, can house nearly 550 vehicles. The transit center national and international markets using a modern and garage are catalysts for new development and network of air, sea, rail, and highway transportation investments in downtown Auburn. facilities. The City of Auburn Economic Development The city is bi-sected by State Highways 18 and department would be happy to send you a copy of 167, major arterials that connect within three miles the recent ESRI demographic study or any other downtown to Interstate 5, the state’s major north-materials. Please contact: south freeway system. This puts Auburn just 15 miles Dave Baron from the Seattle-Tacoma International Airport and the Economic Development Manager Port of Tacoma, and just 20 miles from the Port of City of Auburn Seattle, the closest deep-water port to Alaska and the 253-804-3101 Far East. Two major railroads, Burlington Northern/ dbaron@auburnwa.gov Santa Fe, and Union Paci¿ c, serve the area. Auburn has many supply chain businesses to move products to market. Sources: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI (3 party) report of 3/06 with projections, disposable income, retail potential, etc. rd Hebert Research Demographic Comparison Report, March 2005 City of Auburn, Mayor’s of¿ ce Ý·¬§ ±º ß«¾«®² Business Outlook 2006 The City of Auburn Economic Development department would be happy to send you a copy of the recent ESRI demographic study or any other materials. Please contact: Dave Baron Economic Development Manager City of Auburn 253-804-3101 dbaron@auburnwa.gov