3(b) Housing and Economic Development Sections

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Employment Requested information from BLAEDC. These three geographic areas of development have created a local economy that is highly service-oriented.The 2008 Business Inventory found that 46%of the jobs in Pequot Lakes are service-related. By 2010, service-related jobs had grown to 51%.This is not surprising since, as a neighborhood center, Pequot Lakes businesses cater largely to the local and sub- regional markets.The total number of people employed in Pequot Lakes has held steady at slightly under 1,6001,compared to an overall population estimated to be at around 2,0002 and an estimated local workforce of 1,1003.A sizeable fraction of the local workforce lives outside of the City of Pequot Lakes. Tax Base Distribution (Rewritetext.) Property Value Distribution It is also important context to have an , understanding ofthe relative tax 2018 Crow Wing County Assessor s Data distribution within the City of Pequot Lakes.Where other area communities, such as Brainerd and Baxter, draw large percentage of their tax base from commercial development, Pequot Lakes relies most heavily on residential areas. Roughly 2/3�ds of the local tax base comes from residential development,with more than a third of that coming from seasonal properties,which are taxed at a higher ■Agricultural/Forestry Residential � Commercial/Industrial Other rate.° Property Tax Capacity Distribution 2018 Crow Wing County Assessor's Data +�Agriailtural/Forestry Residential ■Commercial/Industrial ■Chher 1 Employment data was collected by city volunteers as part of a business inventory conducted in 2008.The data was updated by City staff in 2010. ZThe Minnesota State Demographer's office estimates the 2008 population of Pequot Lakes at 1,993. 3 The Minnesota Demographer's office provides population age distribution for the 2000 Census. The size of the Pequot Lakes workforce is based on the percent of the population between the ages 10 to 54 in 2000 (55 percent) multiplied by the current population estimate. °Raw data for this analysis was obtained from the Crow Wing County Auditor's office and is based on data prepared by the County Assessor.