Eau Claire boasts improved economy
City ranks top among small metropolitan areas in Wisconsin, 56th out of 124 across country
McLean Bennett
Issue date: 10/2/08 Section: News
Eau Claire has something to brag about - and it's not the number of bars on Water Street or the temperature on the footbridge.
The city's economy was ranked best in the state and 56th among 124 small metropolitan areas nationally this year, according to an economic report released earlier this month by the Milken Institute, a nonpartisan economic think tank in California.
This year's report represents a marked improvement for Eau Claire's economy, which was ranked 93rd nationally last year and dipped to as low as 121st in 2005. No rankings were released in 2006.
The rankings are based on "how well the areas are creating and sustaining jobs and economic growth" and take into account jobs, wages, salaries and technology growth, according to a press release issued last week by the Eau Claire Economic Development Division.
"I think it certainly is one of the various tools we use to try to benchmark how we're doing and such," said Mike Schatz, director of the Economic Development
Division. "I guess it was very good to see that we had moved up (from 2007)."
Schatz acknowledged that wages and salaries here typically are lower than in other parts of the state, but added the area's wages are growing at a higher rate than other communities.
"It takes a long time to move up in the wage rankings," he said, adding that reasons for the city's comparatively low incomes include a high number of college students who work part time as well as a large population of fixed-income elderly. Both groups' incomes probably lower the city's overall average, he said.
He also said the area appears to be retaining more college graduates, citing reports that had been given to him by UW-Eau Claire's Career Services office. According to the most recent Career Services graduate survey - which included responses from 903 graduates - 23 percent of university graduates are working in the Chippewa Valley.
Four other Wisconsin cities made it into the country's top-100 small metro rankings: Janesville ranked 75th, Appleton ranked 83rd, Wausau ranked 89th and Oshkosh-Neenah ranked 99th.
A number of small metro areas in Minnesota had even stronger showings: Fargo, N.D. (which includes parts of Minnesota) ranked 17th, Rochester ranked 46th, Grand Forks, N.D. (and parts of Minnesota) ranked 50th and St. Cloud ranked 58th.
Madison reigned atop both states' lists of large metropolitan areas, coming in at 90th. The Minneapolis-St. Paul-Bloomington area, which includes parts of Wisconsin, ranked 137th, and the Milwaukee-Waukesha-West Allis area came in 157th. Green Bay was ranked 165th.
Duluth, the only other large metropolitan area in Minnesota included on the list, came in at 167th.
"I would say it's gotten better," junior Ryan Bailiff said of the local economy, adding the amount of road construction here shows a willingness by the city to spend money.
"That would be a good sign for an improvement in the economy here," he said.
The city's economy was ranked best in the state and 56th among 124 small metropolitan areas nationally this year, according to an economic report released earlier this month by the Milken Institute, a nonpartisan economic think tank in California.
This year's report represents a marked improvement for Eau Claire's economy, which was ranked 93rd nationally last year and dipped to as low as 121st in 2005. No rankings were released in 2006.
The rankings are based on "how well the areas are creating and sustaining jobs and economic growth" and take into account jobs, wages, salaries and technology growth, according to a press release issued last week by the Eau Claire Economic Development Division.
"I think it certainly is one of the various tools we use to try to benchmark how we're doing and such," said Mike Schatz, director of the Economic Development
Division. "I guess it was very good to see that we had moved up (from 2007)."
Schatz acknowledged that wages and salaries here typically are lower than in other parts of the state, but added the area's wages are growing at a higher rate than other communities.
"It takes a long time to move up in the wage rankings," he said, adding that reasons for the city's comparatively low incomes include a high number of college students who work part time as well as a large population of fixed-income elderly. Both groups' incomes probably lower the city's overall average, he said.
He also said the area appears to be retaining more college graduates, citing reports that had been given to him by UW-Eau Claire's Career Services office. According to the most recent Career Services graduate survey - which included responses from 903 graduates - 23 percent of university graduates are working in the Chippewa Valley.
Four other Wisconsin cities made it into the country's top-100 small metro rankings: Janesville ranked 75th, Appleton ranked 83rd, Wausau ranked 89th and Oshkosh-Neenah ranked 99th.
A number of small metro areas in Minnesota had even stronger showings: Fargo, N.D. (which includes parts of Minnesota) ranked 17th, Rochester ranked 46th, Grand Forks, N.D. (and parts of Minnesota) ranked 50th and St. Cloud ranked 58th.
Madison reigned atop both states' lists of large metropolitan areas, coming in at 90th. The Minneapolis-St. Paul-Bloomington area, which includes parts of Wisconsin, ranked 137th, and the Milwaukee-Waukesha-West Allis area came in 157th. Green Bay was ranked 165th.
Duluth, the only other large metropolitan area in Minnesota included on the list, came in at 167th.
"I would say it's gotten better," junior Ryan Bailiff said of the local economy, adding the amount of road construction here shows a willingness by the city to spend money.
"That would be a good sign for an improvement in the economy here," he said.
Viewing Comments 1 - 1 of 2
Carolyn Shiell
posted 10/02/08 @ 9:40 AM CST
Fargo is in ND not MN.
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