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City of Ramsey 2030 Comprehensive Plan
<br />Chapter 12: Economic Development
<br />time individual sites are being developed (e.g. if growth in the healthcare sector
<br />is strong, medical office demand will be strong).
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<br />2. Twin Cities Employment Growth by Sector 2004-2014
<br />Figure 12-2 presents predictions from the Minnesota Department of Employment
<br />and Economic Development (DEED) about the growth of the Twin Cities
<br />economy by industrial sector. The chart shows very strong expansion in several
<br />service sectors. In particular, 63 percent of all new jobs over 10 years will be
<br />education/health services, professional/business services, or hospitality. Other
<br />important growth sectors include retail trade (8% of new jobs),
<br />finance/insurance/real estate (6%), and government (7%). These projections
<br />indicate that commercial development in the Twin Cities region in the coming
<br />decades will likely focus on several service sectors because they will be the
<br />major drivers of employment growth.
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<br />3. Anoka County Office and Industrial Space Absorption (Multi-Tenant
<br />Space) 1998-2006
<br />Figure 12-2 Projected Employment Growth by
<br />Sector, 7-County Twin Cities Region, 2004-2014
<br />Absorption of
<br />commercial and
<br />Information, 5,390, 2%
<br />Mfg, -2,463, -1%
<br />industrial space
<br />Other Svcs., 10,214, 4%
<br />has been slow
<br />over the last
<br />Trans./Whole./Util.,
<br />Const.,
<br />seven years in
<br />10,792, 5%
<br />10,244, 4%
<br />Anoka County.
<br />Education/Health, 59,424,
<br />27%
<br />Figure 12-3
<br />shows that the
<br />amount of space
<br />Gov't, 14,695, 6%
<br />absorbed has
<br />been relatively
<br />Finance/Insur./RE, 16,946,
<br />7%
<br />flat for each
<br />property type
<br />with the
<br />Retail Trade, 17,369, 8%
<br />exception of Prof./Bus. Svcs., 57,377,
<br />26%
<br />office/
<br />Hospitality, 23,005, 10%
<br />warehouse space,
<br />which has seen a
<br />Source: Minnesota DEED
<br />nearly 60 percent
<br />increase in the amount of occupied space. Compared to the remainder of the
<br />metro area, however, the amount of office space in Anoka County is minimal.
<br />
<br />Another important point that the chart displays is how much office/warehouse
<br />space dominates the market in Anoka County. Even if one were to add together
<br />office, office/showroom, and bulk warehouse space, it would not add up to
<br />office/warehouse space.
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<br />City of Ramsey 2030 Comprehensive Plan Page 12-4
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