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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 2,0002 and an <br /> 8 estimated local workforce of 1,1003. 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 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 ®Agri cultural/Forestry <br /> 16 large percentage of their tax base from 14% W Residential <br /> 17 commercial development, Pequot <br /> Commercial/Industrial <br /> 18 Lakes relies most heavily on residential -' <br /> 19 areas. Roughly 2/3rds of the local tax ®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 /> ' <br /> 24 rate. _ <br /> Property Tax Capacity Distribution <br /> 25 2009 Crow Wing County Assessor's Data <br /> 2%a% <br /> 25% <br /> W Agricultural/Forestry <br /> U Residential <br /> J Commercial/Industrial <br /> ®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 /> 2 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 population between the ages 10 to 54 in 2000(5S percent) <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 />