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Current Economic Facts & Data
Lexington's "Job Creation Matrix"
Revealed by an Open Records Request submitted to LFUCG on July 2, 2009
| Fiscal Year | Lex. Jobs Created | Average Salary | Greater Austin Area |
| 2005 | 1523 | $25.8K | 2004 - 2008 |
| 2006 | 1183 | $34.7K | Note: |
| 2007 | 589 | $30.9K | Austin 3 1/2 times |
| 2008 | 1037 | $32.6K | larger than Lex. |
| 2009 | 356 | $25.8K | |
| Total | 4688 (Fayette Co.) Entire BG Area (4742 new jobs) | Avg. Lex Salary = $30,399 (Avg. BG Salary from new jobs = $30,215) | 121,800 New Jobs (divided by 3 1/2 = 34,800 new jobs) Avg. Salary = $45,977 |
Quick Analysis:
We have to account for Austin's size, about 3/12 times larger than Lexington.
So scaling it, the Austin area created roughly 7 1/2 times more jobs than Lexington did.
Also, those new jobs in Austin paid about 50% more than the new jobs in the Bluegrass area.
Further Notes:
In 2007, there was $690M of venture capital invested into the Austin economy. In 2008, Lexington had just $68M.
Comparative Analysis:
Lexington's (Adjusted & Non-Adjusted) Per Capita Income vs. Other Cities
Lexington's (Adjusted & Non-Adjusted) Per Capita Income vs. Other Cities
| City | Per Capita Income | Cost of Living Index | Adjusted Per Capita Income | % Higher than Lex |
| Atlanta | $54.2K | 94 | $57.5K | 37% |
| Alexandria | $70.6K | 138 | $51.2K | 22% |
| Pittsburgh | $46.7K | 92 | $50.4K | 20% |
| Charlotte | $45.5K | 92 | $49.1K | 17% |
| Nashville | $43.4K | 88 | $48.6K | 16% |
| Cincinnati | $42.7K | 90 | $47K | 11% |
| Louisville | $41.6K | 89 | $46.2K | 10% |
| San Francisco | $61K | 137 | $44.5K | 6% |
| Madison | $43.6K | 100 | $43.6K | 4% |
| Seattle | $49.4K | 114 | $43.3K | 3.3% |
| Austin | $40.4K | 94 | $42.9K | 2.4% |
| Indianapolis | $37.9K | 88 | $42.5K | 1.4% |
| Lexington | $39.9K | 95 | $41.9K | --- |
| Columbus, OH | $38.6K | 94 | $40.9K | -2.4% |
| Ann Arbor, MI | $40.9K | 100 | $40.9K | -2.4% |
| Chicago** | $45.2K | 113 | $40K | -4.5% |
Cost of Living Indexes from Kiplinger's, based on the ACCRA Index.
Cost of Living Index - How it's Configured:
Housing 29%
Groceries 13%
Utilities 10%
Transportation 9%
Healthcare 4%
Misc. Goods/Services 35%
** Chicago (and most mega-metropolitan areas) can arguably be calculated by different methodologies. For instance, Winchester is not really considered Lexington, but Naperville is considered "Chicagoland."
EricPatrickMarr |
Latest page update: made by EricPatrickMarr
, Sep 17 2009, 9:57 AM EDT
(about this update
About This Update
Edited by EricPatrickMarr
80 words added 55 words deleted view changes - complete history) |
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Keyword tags:
Cost of Living
Economic Data
Per Capita Income
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