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1 These three geographic areas of development have created a local economy that is highly service-oriented. The <br /> 2 2008 Business Inventory found that 46%of the jobs in Pequot Lakes are service-related. By 2010,service-related <br /> 3 jobs had grown to 51%. This is not surprising since, as a neighborhood center, Pequot Lakes businesses cater <br /> 4 largely to the local and sub-regional markets. The total number of people employed in Pequot Lakes has held <br /> 5 steady at slightly under 1,6001, compared to an overall population estimated to be at around 2,0002 and an <br /> 6 estimated local workforce of 1,1003.A sizeable fraction of the local workforce lives outside of the City of Pequot <br /> 8 Lakes. <br /> 10 Tax Base Distribution Property Value Distribution <br /> 12 It is also important context to have an 2009 Crow Wing County Assessor's Data <br /> 14 understanding of the relative tax 3% <br /> 16 distribution within the City of Pequot 1651, v <br /> 18 Lakes.Where other area communities, <br /> 20 such as Brainerd and Baxter, draw a aAgriudtural/Forestry <br /> 22 large percentage of their tax base from 141/6 V Residential <br /> 24 commercial development, Pequot a Commercial/Industrial <br /> 26 Lakes relies most heavily on residential <br /> 28 areas. Roughly 2/3rds of the local tax <br /> N Other <br /> 30 base comes from residential 067% <br /> 32 development, with more than a third <br /> 34 of that coming from seasonal - <br /> 36 properties,which are taxed at a higher ` __. `----- <br /> ,�._._________________._.___ <br /> 38 rate.° Property Tax Capacity Distribution <br /> 40 2009 Crow Wing County Assessor's Data <br /> 253 <br /> 25% <br /> H Agricultural/Forestry <br /> 61 Residential <br /> u Commercial/Industrial <br /> W Other <br /> i071% � <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 j55 percent) <br /> multiplied by the current population estimate. <br /> ° 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 /> DRAFT-November 2010 17 1 P g e <br />