SUMMARY OF GROWTH TRENDS
['-1 PROPfRTIES
Palm Beach Co.
SU~MARY OF GROWTH TKE~OS
The Palm P.each Co. economy performed better than the U.S. economy
during the 1970's ard early 1980's. ~ni Ie the US grew by 28 percent
during the 1972-82 perioc as a whole, Palm Beach Co. grew 97 percent.
Palm Beach Co. tended to reflect the general pattern of cycl ical
change exp~rienced nationwide:
Compound Annual Growth Rate
Period U.S. Palrr. Beach Co. Difference
1972-76 1.8 5.6 3.8
1976-80 4.5 9.7 5.2
1980-82 -.4 5.4 5.8
1982-85 2.5 8.1 5.6
Palm Beach Co. did better than the U.S. as a whole during the
major growth period In 1976-80, and again during the 1980-82 recession.
The biggest contributors to the Palm Beach Co. jOb base during the
1972-82 per iod were:
S~~!~.r.
~~l_~~~_J~~~_~.r.~a!~~
Eating E Drinking Places
Health Services
Special Trade Contractors
Business Services
Rea I Estate
Transportation EQpt.
General Contractors
Electric E Electronic EQpt.
Food Stores
Misc. Retail Trade
11 76 5
6993
6650
5987
4424
4250
3722
3582
3442
3331
-21-
Economic Change
The least effectl ve contr ibutors have been:
~~'1'I.
Heavy Construction
Te)(t1le Manufactur ing
Stone,Clay,Glass Products
Co~bined Investments
011 E Coal Products "11g.
Forestry
Tobacco Products Mfg.
Pipelines
~allroads
Coal E Lignite Mining
~~l_~,~_JQ~~_'L~al~a
-553
-150
-43
-34
-34
-25
o
o
o
o
~~UL~~~_~t_~~l_J~~_~t~~lh
It is Important to know which kinds of companies, on balance, are
creatlnq net new jobs. By "on balance" we mean the net of new startups
and expansions and relocations into Palm ~each Co. over the losses due
to Closings, layoffs, and out-moves. We determine the net change by
examining the behavior of each Individual tuslness In the area, netting
the gains against the losses as we go.
Jh~_~l~~
In Palm Beach Co., small companies were the greatest net Job
creators during the period for which the most recent micro detail is
available (1980-84)
Percent Net
fJI!121~:l!!lSH11_S1z~ ~~!_.J~~1_~ua1~~ .J~~__~.ba.D3~
0-19 19408 69.8 7-
20-99 6990 23.7
100-499 3280 15.9
500+ 9084 24.1
Unknown 1541 120.5
---------------- ------------
TOT A L S 40304 34.5
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E con 0 m ice t. a n g e
a:l_!~Qt_2i_Q~af.r.1hll2
Palm Reach Co. relies most heavi Iy upon local
Its growth
Independents for
Independent 22970
Percent Net
J~n__'!liia3~
36.4 7-
D~n~!lhl~ tl~1_1~~1_'t~ai~g
Subsidiary 131
2.0
Local Headquarters 10313
66.2
Branch (Local He) -2891
-37.0
Branch (Non-local HO)
9790
40.9
TCTALS
40313
34.5
.a:l_A3~
Among establishments with an Identifiable age, young companies
Indicated the fastest rate of jOb gain:
Percent Net
!3~ ~~l_J~Q~_~L~a!~~ J~~__~.baQg~
0-4 39030 172.9 I.
5-8 -3260 -17.9
9-11 -1542 -16.6
12+ -1414 -4.1
Unk n own 6899 21.7
---------------- ------------
TOTALS 40313 34.5
-23-
Economic Change
~~_~2r~2t~1~_A~11~11:l_~~U11U3_~baOg~
The largest source of jab creation (from an activity standpoint)
was startups (lIbirtnsll). On the negative side, closures (lIdeaths")
playerj the most significant economic role. Looking at the net, we find
the greatest level of Imbalance between startups and closures, ana
therefore the ~Ighest rate of employment gain:
Percent Net
Cbang~_f.t2~~11 ~~1_J2~~_~.r.~21~~ .J2~~_~L~a!~~
Startup - Closure 1 9l; 28 48.7 7-
Expand Contract 15570 38.6
Inmove Outmove 5115 12.7
---------------- ------------
TOT A L S 40313 100.0
~a!u.r.~_~1_Ba~1~1:l_~r~~lo3_~~m~aol~1
Net jOb creation figures tell us a great deal about where the
co mp ani e s
firms In an
nature of
economy Is healthy, but they do not tell us which Individual
are growing. It could be that there are many healthy
Industry that is declining. It thus pays to look at the
growing companies ~~L ~~.
What do we mean b'lllgrowing?" Is It absolute or Is it percent
growth? Absolute growth favors larger companies; percent growth favors
smaller ones. We have avoiaed these biases by Choosing a hybrlo
mixtur~ of the two absolute employment growth multlpl led by the
percentage growth it represents (expressed in decimal terms). Thus a
company that grew from 500 to 550 employees would have an absolute
growth of 50, a percent growth of 50/500 2.1, and an Index of 50 X .1 c
5. We have chosen to examine the characteristics of all very rapidly
growing establishments i.e., all of those with a growth Index of
over 20 -- keeping track of their characteristics, in the meantime.
-24-
fconomic Change
Slzo!:
The greatest number of rapidly growing establishments are small:
,,"0. Rapidly Percent of
f",ployment Growing Rapidly Growing
Sl.~~______ f~.t$l1211~.b!!!~!l1~ f~!a~111b!!l~!l!~
0-19 202 61.8 7-
20-99 63 19.3
100-499 27 8.3
500+ 30 9.2
Unknown 5 1.5
-------------- -------------
TOTALS 327 100.0
OliOo!:L1bl.12
In terms of ownerShip status, local
largest nu~ber of high-growers
Independents represent the
No. Rapidly Percent of
Growing Rapidly Growing
!htao!:.r.~hl~ E11a~111.bm~D.t~ E~la~ll~.b!I!~Dl~
Independp.nt Fir m 222 67.9 ;(
Subsidiary 8 2.4
Headquarters of Fir m 60 18.3
Branch of Local Firm 9 2.8
Branch of Non-local Firm 28 8.6
-------------- --------------
TOTALS 327 100.0
-25-
!g~
...
F cc<)olTli c Ch~nge
The largest proportion of growing establishments are young In age:
No. Rapidly Percent of
GrowinQ Rapidly Growing
A.2~_11n_Y~a!.11 E.~12nli~tll!!~Q1.~ ,,~1.ilnli~tl!ll~Q1.~
0-4 124 37.9 I.
5-8 7b 23.2
9-11 26 8.0
12+ 64 19.6
Unknown 37 11.3
-------------- --------------
TOTALS 327 100.0
-26-
CONCLUSION
We look forward to the expeditious approval of this Amended
Master Site Development Plan We feel it is the appropriate
refinement of the document initially approved in the ADA/DRI
and contemplated by the Development Order Many of the
revisions that have taken place have resulted from the incorp-
oration of requirements expressed in the Development Order We
look forward to the opportunity to present this project at the
City Council Public Hearing and look forward to its successful
completion
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