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City of Ramsey 2030 Comprehensive Plan <br />Appendix A: Community Background <br />Office -warehouse space, which has been historically indicative of the manufacturing sector, grew by 40 <br />million occupied square feet between 1991 and 2005 (13.0 percent annually), followed by office space, <br />which grew by 16 million occupied square feet (2.4 percent annually). The overall strong growth in <br />office -warehouse space with its intermittent peaks and valleys is more reflective of a changing office <br />market than growth in the manufacturing sector. As the most accessible sites become cost prohibitive for <br />many businesses with office workers, office -warehouse properties in traditionally industrial locations <br />have become increasingly popular. <br />Overall, the strong historical expansion in occupied multi -tenant office and industrial space in the Twin <br />Cities suggests that Ramsey can likely absorb a variety of space types, assuming that the economy <br />continues to expand. The mix of building types on any particular site will depend on the parts of the <br />economy that are expanding at the time individual sites are being developed (e.g. if growth in the <br />healthcare sector is strong, medical office demand will be strong). <br />Employment Growth by Sector 2002-2012 <br />Figure 3-22 presents predictions from the Minnesota Department of Economic Development (DEED) <br />about the growth of the Twin Cities economy by industrial sector. The chart shows very strong expansion <br />in several service sectors. In particular, 61 percent of all new jobs over 10 years will be education/health <br />services, professional/business services, or hospitality. Other important growth sectors include retail <br />trade (9 percent of new jobs), transportation/ communications/utilities (8 percent), and <br />finance/insurance/real estate (6 percent). Although significant commercial/industrial development in <br />Ramsey will not occur until after 2012 since closer in sites will capture most growth in the short-term, the <br />projections highlight that commercial development in the Twin Cities region in the coming decades will <br />likely focus on several service sectors because they will be the major drivers of employment growth. <br />Figure 3-22 - Projected Employment Growth by Sector <br />City of Ramsey 2030 Comprehensive Plan Appendix A-29 <br />