Transcription
Economy OverviewCollin County, TX600 Six Flags Drive, Suite 300Arlington, Texas 76005Lightcast Q2 2022 Data Set www.economicmodeling.com
Economy OverviewContents.Report. . . . . . Parameters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1. . . . . . .Economy. . . . . . . . Overview. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . .Unemployment. . . . . . . . . . . . . . by. . .Demographics. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . .Historic. . . . . . .&. . Projected. . . . . . . . . .Trends. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8. . . . . . .Popula. . . . . . .on. . .Characteris. . . . . . . . . . . cs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .12.Inbound. . . . . . . .and. . . .Outbound. . . . . . . . . .Migra. . . . . . on. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14.Industry. . . . . . . .Characteris. . . . . . . . . . .cs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16.Business. . . . . . . . Characteris. . . . . . . . . . . .cs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21.Workforce. . . . . . . . . .Characteris. . . . . . . . . . . cs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23.Educa. . . . . . onal. . . . .Pipeline. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29.In-Demand. . . . . . . . . . Skills. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30.Lightcast Q2 2022 Data Set www.economicmodeling.com
Economy OverviewReport Parameters1 County48085Collin County, TXClass of WorkerQCEW Employees, Non-QCEW Employees, and Self-EmployedThe informa on in this report pertains to the chosen geographical area.Lightcast Q2 2022 Data Set www.economicmodeling.com1
Economy OverviewEconomy Overview1,103,986515,767 96.9KPopula on (2021)Total Regional EmploymentMedian Household Income (2019)Popula on grew by 159,673 overthe last 5 years and is projected togrow by 148,801 over the next 5years.Jobs grew by 83,855 over the last5 years and are projected to growby 78,576 over the next 5 years.Median household income is 34.1K above the na onal medianhousehold income of 62.8K.TakeawaysAs of 2021 the region's popula on increased by 16.9% since 2016, growing by 159,673. Popula on is expected to increase by13.5% between 2021 and 2026, adding 148,801.From 2016 to 2021, jobs increased by 19.4% in Collin County, TX from 431,912 to 515,767. This change outpaced the na onalgrowth rate of 0.7% by 18.7%. As the number of jobs increased, the labor force par cipa on rate increased from 69.9% to71.3% between 2016 and 2021.Concerning educa onal a ainment, 33.5% of Collin County, TX residents possess a Bachelor's Degree (13.2% above thena onal average), and 7.2% hold an Associate's Degree (1.5% below the na onal average).The top three industries in 2021 are Restaurants and Other Ea ng Places, Educa on and Hospitals (Local Government), andComputer Systems Design and Related Services.Popula a onJobs 05.8 85.98B 69.94B 64.39B3,233,8621,712,7051,216,33796.7 169.60B 189.85B 126.49B29,821,72614,369,57014,222,96696.6 1.91T 1.25T 1.55T331,820,028162,302,777161,875,556100.0 22.09T 0 10.75TLightcast Q2 2022 Data Set www.economicmodeling.com2
Economy OverviewDec 2021 Labor Force BreakdownPopula onA1,103,986Popula on16 Civilian Non-Ins tu onalized Popula on857,500ANot in Labor Force (16 )245,726ALabor r 16, Military, and ins tu onalized Popula on246,486Educa onal A ainmentConcerning educa onal a ainment, 33.5% of Collin County, TX residents possess a Bachelor's Degree (13.2% above the na onalaverage), and 7.2% hold an Associate's Degree (1.5% below the na onal average).% of Popula onPopula onALess Than 9th Grade3.5%25,571A9th Grade to 12th Grade2.8%20,361AHigh School Diploma14.8%108,696ASome College18.4%134,960AAssociate's Degree7.2%53,027ABachelor's Degree33.5%246,451AGraduate Degree and Higher19.9%146,026Lightcast Q2 2022 Data Set www.economicmodeling.com3
Economy OverviewUnemployment by DemographicsUnemployment by AgeAgeUnemployment(Mar 2022)% ofUnemployed %9225.06%18,229100.00%65 TotalLightcast Q2 2022 Data Set www.economicmodeling.com4
Economy OverviewUnemployment by GenderGenderUnemployment(Mar 2022)% 29100.00%TotalLightcast Q2 2022 Data Set www.economicmodeling.com5
Economy OverviewUnemployment by RaceUnemployment(Mar 2022)% ofUnemployed1180.65%Asian1,3037.15%Black or African %RaceAmerican Indian or Alaskan Na veNa ve Hawaiian or Other Pacific IslanderWhiteTotalLightcast Q2 2022 Data Set www.economicmodeling.com6
Economy OverviewUnemployment by EthnicityEthnicityHispanic or La noNot Hispanic or La noTotalLightcast Q2 2022 Data Set www.economicmodeling.comUnemployment(Mar 2022)% ofUnemployed4,49124.64%13,73875.36%18,229100.00%7
Economy OverviewHistoric & Projected TrendsPopula on TrendsAs of 2021 the region's popula on increased by 16.9% since 2016, growing by 159,673. Popula on is expected to increase by13.5% between 2021 and 2026, adding 148,801.TimeframePopula 9220241,192,97420251,222,76320261,252,787Lightcast Q2 2022 Data Set www.economicmodeling.com8
Economy OverviewJob TrendsFrom 2016 to 2021, jobs increased by 19.4% in Collin County, TX from 431,912 to 515,767. This change outpaced the na onalgrowth rate of 0.7% by 555,4182024571,1412025584,5642026594,342Lightcast Q2 2022 Data Set www.economicmodeling.com9
Economy OverviewLabor Force Par cipa on Rate TrendsTimeframeLabor Force Par cipa on .87%January 202269.56%February 202270.27%March 202270.42%Lightcast Q2 2022 Data Set www.economicmodeling.com10
Economy OverviewUnemployment Rate TrendsCollin County, TX had a March 2022 unemployment rate of 2.93%, decreasing from 3.49% 5 years before.TimeframeUnemployment anuary 20223.53%February 20223.52%March 20222.93%Lightcast Q2 2022 Data Set www.economicmodeling.com11
Economy OverviewPopula on Characteris cs222,033244,501495,470MillennialsRe ring SoonRacial DiversityCollin County, TX has 222,033Re rement risk is low in CollinRacial diversity is high in Collinmillennials (ages 25-39). TheCounty, TX. The na onal averageCounty, TX. The na onal averagena onal average for an area thisfor an area this size is 319,076for an area this size is 431,812size is 220,925.people 55 or older, while there areracially diverse people, while there244,501 here.are 495,470 here.41,9181.17/1,00010.78/1,000VeteransViolent CrimeProperty CrimeCollin County, TX has 41,918Collin County, TX has 1.17 violentCollin County, TX has 10.78veterans. The na onal average forcrimes per 1,000 people. Theproperty crimes per 1,000 people.an area this size is 57,472.na onal rate is 3.62 per 1,000The na onal rate is 17.91 perpeople.1,000 people.Lightcast Q2 2022 Data Set www.economicmodeling.com12
Economy OverviewPlace of Work vs Place of ResidenceUnderstanding where talent in Collin County, TX currently works compared to where talent lives can help you op mize sitedecisions. For example, the #1 ranked ZIP for employment ranks #11 for resident workers. The top ZIP for resident workers is75035.Where Talent WorksZIPName75024Plano, TX (in Collin county) 75093Where Talent isco, TX (in Collin county) 40,495Plano, TX (in Collin county) 55,92175002Allen, TX (in Collin county) 38,51975074Plano, TX (in Collin county) 49,81875098Wylie, TX (in Collin county) 36,31375075Plano, TX (in Collin county) 33,85475287Dallas, TX (in Collin county) 33,83875069Mckinney, TX (in Collin county) 33,14175071Mckinney, TX (in Collin county) 32,882Lightcast Q2 2022 Data Set www.economicmodeling.com13
Economy OverviewInbound and Outbound Migra onThe table below analyzes past and current residents of Collin County, TX. The le column shows residents of other coun esmigra ng to Collin County, TX. The right column shows residents migra ng from Collin County, TX to other coun es.As of 2020, 23,562 people have migrated from Dallas County, TX to Collin County, TX. In the same year, 14,533 people le CollinCounty, TX migra ng to Dallas County, TX. The total Net Migra on for Collin County, TX in 2020 was 21,997.Previous CountyCollin County, TXFollowing CountyDallas County, TXDallas County, TXDenton County, TXDenton County, TXTarrant County, TXTarrant County, TXLos Angeles County, CAGrayson County, TXHarris County, TXRockwall County, TXGrayson County, TXHunt County, TXRockwall County, TXHarris County, TXOrange County, CATravis County, TXCook County, ILTop Previous Coun esTravis County, TXKaufman County, TXFannin County, TXMigra onsDallas County, TX23,562Denton County, TX11,990Tarrant County, TX3,332Los Angeles County, CA1,326Harris County, TX1,312Grayson County, TXLightcast Q2 2022 Data Set www.economicmodeling.com98814
Economy OverviewTop Previous Coun esMigra onsRockwall County, TX943Orange County, CA816Travis County, TX800Cook County, IL749Bexar County, TX711Hunt County, TX682Maricopa County, AZ629King County, WA579San Diego County, CA575Top Following Coun esMigra onsDallas County, TX14,533Denton County, TX13,036Tarrant County, TX2,590Grayson County, TX2,175Rockwall County, TX1,364Hunt County, TX1,035Harris County, TX892Travis County, TX787Kaufman County, TX659Fannin County, TX601King County, WA474Maricopa County, AZ469Bexar County, TX442Los Angeles County, CA425Williamson County, TX384Lightcast Q2 2022 Data Set www.economicmodeling.com15
Economy OverviewIndustry Characteris csLargest IndustriesIndustry JobsNa onal AverageFinance and InsuranceGovernmentProfessional, Scien fic, and Technical ServicesRetail TradeHealth Care and Social AssistanceAccommoda on and Food ServicesAdministra ve and Support and Waste Management andRemedia on ServicesOther Services (except Public Administra on)ManufacturingConstruc onInforma onWholesale TradeManagement of Companies and EnterprisesReal Estate and Rental and LeasingArts, Entertainment, and Recrea onEduca onal ServicesTransporta on and WarehousingMining, Quarrying, and Oil and Gas Extrac onAgriculture, Forestry, Fishing and Hun ngU li es0Lightcast Q2 2022 Data Set www.economicmodeling.com20,00040,00060,00016
Economy OverviewTop Growing IndustriesIndustry Jobs GrowthFinance and InsuranceProfessional, Scien fic, and Technical ServicesGovernmentHealth Care and Social AssistanceConstruc onOther Services (except Public Administra on)Retail TradeManufacturingManagement of Companies and EnterprisesAccommoda on and Food ServicesInforma onTransporta on and WarehousingEduca onal ServicesAdministra ve and Support and Waste Management andRemedia on ServicesArts, Entertainment, and Recrea onWholesale TradeReal Estate and Rental and LeasingMining, Quarrying, and Oil and Gas Extrac onAgriculture, Forestry, Fishing and Hun ng0Lightcast Q2 2022 Data Set 00017
Economy OverviewTop Industry Loca on Quo entIndustry Loca on Quo entFinance and InsuranceInforma onManagement of Companies and EnterprisesProfessional, Scien fic, and Technical ServicesReal Estate and Rental and LeasingArts, Entertainment, and Recrea onAccommoda on and Food ServicesOther Services (except Public Administra on)Retail TradeAdministra ve and Support and Waste Management andRemedia on ServicesWholesale TradeConstruc onHealth Care and Social AssistanceGovernmentManufacturingMining, Quarrying, and Oil and Gas Extrac onEduca onal ServicesU li esTransporta on and WarehousingAgriculture, Forestry, Fishing and Hun ng0.00Lightcast Q2 2022 Data Set www.economicmodeling.com1.002.0018
Economy OverviewTop Industry GRPGross Regional ProductFinance and InsuranceInforma onProfessional, Scien fic, and Technical ServicesManufacturingWholesale TradeGovernmentRetail TradeHealth Care and Social AssistanceAdministra ve and Support and Waste Management andRemedia on ServicesConstruc onReal Estate and Rental and LeasingManagement of Companies and EnterprisesAccommoda on and Food ServicesOther Services (except Public Administra on)Arts, Entertainment, and Recrea onTransporta on and WarehousingMining, Quarrying, and Oil and Gas Extrac onEduca onal ServicesU li esAgriculture, Forestry, Fishing and Hun ng 0.000Lightcast Q2 2022 Data Set www.economicmodeling.com 5.000B 10.00B 15.00B19
Economy OverviewTop Industry EarningsEarnings Per WorkerMining, Quarrying, and Oil and Gas Extrac onManagement of Companies and EnterprisesInforma onManufacturingWholesale TradeFinance and InsuranceU li esProfessional, Scien fic, and Technical ServicesConstruc onReal Estate and Rental and LeasingGovernmentHealth Care and Social AssistanceAdministra ve and Support and Waste Management andRemedia on ServicesTransporta on and WarehousingArts, Entertainment, and Recrea onRetail TradeAgriculture, Forestry, Fishing and Hun ngEduca onal ServicesOther Services (except Public Administra on)Accommoda on and Food Services 0Lightcast Q2 2022 Data Set www.economicmodeling.com 50,000 100,000 150,00020
Economy OverviewBusiness Characteris cs95,295 Companies Employ Your WorkersOnline profiles for your workers men on 95,295 companies as employers, with the top 10 appearing below. In the last 12 months,12,138 companies in Collin County, TX posted job pos ngs, with the top 10 appearing below.Top CompaniesProfilesTop Companies Pos ngUnique Pos ngsBank of America3,712JPMorgan Chase6,130Raytheon Technologies3,124USAA3,291Plano Isd3,092Capital One2,921A2,782Baylor Sco & White Health2,137Texas Instruments2,581Raytheon Technologies2,068PepsiCo2,396HCA Healthcare1,971JPMorgan Chase2,391Texas Health Resources1,475Capital One2,326PepsiCo1,368Frisco tcast Q2 2022 Data Set www.economicmodeling.com21
Economy OverviewBusiness SizePercentageBusiness CountA1 to 4 employees29.7%8,396A5 to 9 employees29.8%8,441A10 to 19 employees23.0%6,508A20 to 49 employees13.1%3,712A50 to 99 employees2.7%757A100 to 249 employees1.2%333A250 to 499 employees0.3%76A500 employees0.2%59*Business Data by DatabaseUSA.com is third-party data provided by Lightcast to its customers as a convenience, and Lightcast does not endorse orwarrant its accuracy or consistency with other published Lightcast data. In most cases, the Business Count will not match total companies with profiles onthe summary tab.Lightcast Q2 2022 Data Set www.economicmodeling.com22
Economy OverviewWorkforce Characteris csLargest Occupa onsOccupa on JobsNa onal AverageOffice and Administra ve SupportSales and RelatedFood Prepara on and Serving RelatedBusiness and Financial Opera onsComputer and Mathema calManagementEduca onal Instruc on and LibraryTransporta on and Material MovingHealthcare Praconers and TechnicalProduc onConstruc on and Extrac onHealthcare SupportInstalla on, Maintenance, and RepairPersonal Care and ServiceBuilding and Grounds Cleaning and MaintenanceArts, Design, Entertainment, Sports, and MediaArchitecture and EngineeringProtec ve ServiceCommunity and Social ServiceLegalLife, Physical, and Social ScienceMilitary-onlyFarming, Fishing, and Forestry0Lightcast Q2 2022 Data Set www.economicmodeling.com20,00040,00060,00023
Economy OverviewTop Growing Occupa onsOccupa on Jobs GrowthBusiness and Financial Opera onsManagementOffice and Administra ve SupportComputer and Mathema calSales and RelatedTransporta on and Material MovingEduca onal Instruc on and LibraryHealthcare SupportHealthcare Praconers and TechnicalPersonal Care and ServiceArts, Design, Entertainment, Sports, and MediaConstruc on and Extrac onCommunity and Social ServiceArchitecture and EngineeringInstalla on, Maintenance, and RepairLegalProduc onFood Prepara on and Serving RelatedLife, Physical, and Social ScienceProtec ve ServiceBuilding and Grounds Cleaning and MaintenanceMilitary-onlyFarming, Fishing, and Forestry0Lightcast Q2 2022 Data Set 12,00014,00024
Economy OverviewTop Occupa on Loca on Quo entOccupa on Loca on Quo entComputer and Mathema calBusiness and Financial Opera onsSales and RelatedOffice and Administra ve SupportArts, Design, Entertainment, Sports, and MediaArchitecture and EngineeringFood Prepara on and Serving RelatedManagementPersonal Care and ServiceEduca onal Instruc on and LibraryLegalBuilding and Grounds Cleaning and MaintenanceInstalla on, Maintenance, and RepairHealthcare Praconers and TechnicalHealthcare SupportConstruc on and Extrac onCommunity and Social ServiceTransporta on and Material MovingLife, Physical, and Social ScienceProduc onProtec ve ServiceMilitary-onlyFarming, Fishing, and Forestry0.00Lightcast Q2 2022 Data Set www.economicmodeling.com1.002.0025
Economy OverviewTop Occupa on EarningsMedian Hourly EarningsManagementComputer and Mathema calArchitecture and EngineeringLegalBusiness and Financial Opera onsHealthcare Praconers and TechnicalLife, Physical, and Social ScienceEduca onal Instruc on and LibraryProtec ve ServiceCommunity and Social ServiceInstalla on, Maintenance, and RepairArts, Design, Entertainment, Sports, and MediaConstruc on and Extrac onOffice and Administra ve SupportProduc onTransporta on and Material MovingSales and RelatedMilitary-onlyHealthcare SupportBuilding and Grounds Cleaning and MaintenanceFarming, Fishing, and ForestryPersonal Care and ServiceFood Prepara on and Serving Related 0.00Lightcast Q2 2022 Data Set www.economicmodeling.com 10.00 20.00 30.00 40.00 50.0026
Economy OverviewTop Posted Occupa onsUnique Average Monthly Pos ngsComputer and Mathema calManagementSales and RelatedOffice and Administra ve SupportHealthcare Praconers and TechnicalBusiness and Financial Opera onsFood Prepara on and Serving RelatedTransporta on and Material MovingHealthcare SupportInstalla on, Maintenance, and RepairArchitecture and EngineeringEduca onal Instruc on and LibraryBuilding and Grounds Cleaning and MaintenanceArts, Design, Entertainment, Sports, and MediaProduc onPersonal Care and ServiceProtec ve ServiceCommunity and Social ServiceConstruc on and Extrac onLife, Physical, and Social ScienceLegalFarming, Fishing, and ForestryMilitary-only0Lightcast Q2 2022 Data Set 0027
Economy OverviewUnderemploymentJobs Requiring Ed. LevelPopula on at Ed. LevelNo Formal Educa on RequiredHigh School Diploma or EquivalentSome College, Non-Degree AwardAssociate's DegreeBachelor's DegreeGraduate Degree and Higher0%Lightcast Q2 2022 Data Set www.economicmodeling.com10%20%30%28
Economy OverviewEduca onal PipelineIn 2020, there were 4,666 graduates in Collin County, TX. This pipeline has grown by 48% over the last 5 years. The highest shareof these graduates come from Liberal Arts and Sciences/Liberal Studies, General Studies, and "Business/Commerce, General".SchoolTotal Graduates (2020)Collin County Community College DistrictToni & Guy Hairdressing Academy-PlanoCer ficateAssociate'sGraduate Trend (2016 2020)4,562104Bachelor'sLightcast Q2 2022 Data Set www.economicmodeling.comMaster's or Higher29
Economy OverviewIn-Demand SkillsTop Specialized SkillsNa onal AverageAgile MethodologyMarke ngAudi ngSQL (Programming Language)Java (Programming Language)FinanceComputer ScienceAccoun ngAmazon Web ServicesRestaurant Opera on0Lightcast Q2 2022 Data Set 00030
Understanding where talent in Collin County, TX currently works compared to where talent lives can help you op*mize site decisions. For example, the #1 ranked ZIP for employment ranks #11 for resident workers. . Grayson County, TX Rockwall County, TX Orange County, CA Travis County, TX Cook County, IL Dallas County, TX Denton County, TX .
