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1 <br /> 2 Employment <br /> 3 These three geographic areas of development have created a local economy that is highly service-oriented. The <br /> 4 2008 Business Inventory found that 46% of the jobs in Pequot Lakes are service-related. By 2010, service-related <br /> 5 jobs had grown to 51%. This is not surprising since, as a neighborhood center, Pequot Lakes businesses cater <br /> 6 largely to the local and sub-regional markets. The total number of people employed in Pequot Lakes has held <br /> 7 steady at slightly under 1,6001, compared to an overall population estimated to be at around 2,000 2 and an <br /> 8 estimated local workforce of 1,100'. A sizeable fraction of the local workforce lives outside of the City of Pequot <br /> 9 Lakes. <br /> 10 Tax Base Distribution Property Value Distribution <br /> 11 I It is also important context to have an 2009 Crow Wing County Assessor's Data <br /> 12 understanding of the relative tax 3% <br /> 13 distribution within the City of Pequot 16% <br /> 14 Lakes. Where other area communities, <br /> 15 such as Brainerd and Baxter, draw a a Agricultural/Forestry <br /> 16 large percentage of their tax base from 14% U Residential <br /> 17 commercial development, Pequot Commercial/Industrial <br /> 18 Lakes relies most heavily on residential <br /> 19 areas. Roughly 2/3rds of the local tax ff ®Other <br /> 20 base comes from residential 67% <br /> 21 development, with more than a third <br /> 22 of that coming from seasonal <br /> 23 properties,which are taxed at a higher <br /> 24 rate. This .ees Rat diRginish the . . - --- <br /> 25 9f RtiRWed ffaVith Af+hiz Property Tax Capacity Distribution <br /> 26 tax base, but it does underse ere the 2009 Crow Wing County Assessor's Data <br /> 27 Retiep that the Git et <br /> 252% <br /> 28 whelly depcdeet eR eeMMP;Gia; <br /> 29 pFelaeFties 25% <br /> M Agricultural/Forestry <br /> 30 J Residential <br /> Commercial/Industrial <br /> fa Other <br /> 71% <br /> 1 Employment data was collected by city volunteers as part of a business inventory conducted in 2008 The data <br /> was updated by City staff in 2010. <br /> z The Minnesota State Demographer's office estimates the 2008 population of Pequot Lakes at 1,993. <br /> 3 The Minnesota Demographer's office provides population age distribution for the 2000 Census The size of the <br /> Pequot Lakes workforce is based on the percent of the oopulation between the ages 10 to 54 in 2000 (55 oercent) <br /> multiplied by the current population estimate. <br /> 4 Raw data for this analysis was obtained from the Crow Wing County Auditor's office and is based on data <br /> prepared by the County Assessor. <br /> 121 Page <br />