development authority of fulton county

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development authority of fulton county

Competitive Analysis

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How does Fulton County measure up to other regions that you may be considering for your site? See for yourself. The following analysis compares Atlanta to ten other business-friendly cities in areas including population, education, workforce, Fortune 500 headquarters and transportation.

Site Selection: Competitive Analysis

Demographics Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Metro Area Population
Population (2010 Census) 5,268,860 1,716,289 4,552,402 1,758,038 9,461,105 6,371,773 5,946,800 5,564,635 18,897,109 4,194,887 2,783,243
Projected Population (2015) 5,801,800 1,958,150 4,679,500 1,969,590 9,712,570 7,136,730 6,594,670 5,963,340 19,376,000 4,654,810 3,023,550
Projected Growth Rate (2010-2015) 9.20% 12.40% 2.70% 10.70% 2.70% 10.70% 9.80% 6.70% 2.50% 9.90% 7.90%
Median Age (2010 Census) 34.9 32.6 38.5 35.4 35.8 33.5 33.2 39.8 37.6 34.7 41.2
Foreign Born Population (2010 Estimate) 13.50% 14.30% 16.80% 9.70% 17.60% 17.50% 22.30% 38.90% 28.80% 14.40% 12.70%
Source: U.S. Census Bureau 2010 Census, 2010 American Community Survey, Woods & Poole Economics MSA profile, 2012.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Metro Area Education
Earned High School Degree or Higher (Estimate 2010) 87.50% 87.50% 90.60% 86.30% 86.40% 83.60% 80.60% 82.70% 84.70% 86.00% 86.90%
Earned Bachelor's Degree or Higher (Estimate 2010) 34.10% 39.40% 43.00% 32.20% 34.00% 31.10% 28.40% 28.10% 36.00% 27.20% 26.20%
Earned Graduate or Professional Degree (Estimate 2010) 11.80% 13.70% 19.00% 10.00% 12.80% 10.00% 9.80% 10.40% 14.60% 9.20% 8.40%
Total Post-secondary Degrees Awarded - Bachelor's degree or higher (2005) 85,802 20,531 57,195 6,676 66,701 22,487 13,232 16,236 97,166 19,548 13,655
Total Post-secondary Students Enrolled - Full-time Equivalent (2005) 176,171 93,486 211,754 49,705 341,192 124,343 124,565 96,795 448,161 144,475 90,493
Source: U.S. Census Bureau, 2010, American Community Survey, Atlanta Regional Council for Higher Education, 2008.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
State Education
Doctorates Awarded (2009) 1,435 3,367 2,619 1,423 2,322 3,367 3,367 2,026 3,852 1,048 2,026
Source: National Science Foundation, 2009.
Economic Indicators Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
GDP (Millions) (2010) $272,362 $36,029 $131,690 $113,568 $532,331 $374,081 $384,603 $257,560 $1,280,517 $190,601 $113,702
Metro Area Workforce
Labor Force (Oct. 2011) 2,682,518 923,426 2,556,466 855,543 4,832,479 3,272,912 2,987,670 2,925,853 9,467,292 2,128,194 1,309,424
Unemployment Rate (Oct. 2011) 9.90% 7.10% 6.30% 10.30% 9.60% 8.00% 8.10% 10.00% 8.30% 8.10% 10.40%
Median Hourly Wage (May 2010) $16.82 $16.78 $21.26 $16.45 $17.59 $16.52 $16.55 $15.14 $19.98 $16.31 $15.19
Source: U.S. Bureau of Labor Statistics, 2011-2011, U.S. Bureau of Economic Analysis, 2010.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
FORTUNE 500 Headquarters
Number of FORTUNE 500 Headquarters (2011) 10 1 2 7 8 10 22 2 45 5 1
Rank of Top Cities with FORTUNE 500 Headquarters (2011) 3 (tie) Not Ranked Not Ranked 9 6 (tie) 3 (tie) 2 Not Ranked 1 Not Ranked Not Ranked
Large Private Headquarters (2010) 7 19 8 7 13 19 19 7 26 4 7
Source: FORTUNE Magazine May 2011, Forbes.com America's Largest Private Headquarters 2010.
Transportation Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Metro Area Air Service ATL AUS BOS CLT ORD DFW IAH MIA JFK PHX TPA
International Non-stop Markets Served 80 0 25 23 48 40 64 77 93 14 3
Domestic Non-stop Markets Served 150 36 69 104 141 136 106 52 59 83 60
Source: Metro Atlanta Chamber Research Department, OAG, Oct. 2011.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Regional Container Porter Service Savannah, GA Houston, TX Boston, MA Wilmington, NC Portage, IN Houston, TX Houston, TX Miami, FL New York, NY San Diego, CA Tampa, FL
Distance to Port (miles) 251 188 0 200 50 245 0 0 0 356 0
Source: Google Maps, Individual Port Websites, 2010.
Commercial Real Estate Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Metro Area Office Market
Class A Asking Rent ($/sq.ft./yr.) $21.59 $29.25 $26.96 $22.46 $25.91 $22.21 $29.75 $35.33 $55.35 $23.36 $23.19
Class B Asking Rent ($/sq.ft./yr.) $16.52 $21.57 $18.50 $17.32 $20.57 $17.64 $19.14 $24.85 $41.72 $19.75 $18.91
Total Office Market Inventory - Class A,B,C (sq.ft.) 294,623,914 81,184,092 367,171,413 95,768,377 453,491,009 336,651,619 267,720,140 99,562,293 542,520,059 156,647,821 142,367,508
Total Office Market Vacancy Rate - Class A,B,C 16.70% 11.80% 11.00% 13.00% 14.80% 16.40% 12.80% 14.30% 7.40% 20.70% 13.60%
Metro Area Industrial Market
Warehouse & Distribution Asking Rent ($/sq.ft./yr.) $3.47 $5.81 $5.15 $3.26 $4.61 $3.68 $5.04 $6.95 $9.58 $5.43 $4.63
R&D/Flex Asking Rent ($/sq.ft./yr.) $7.77 $8.74 $8.91 $8.52 $10.33 $7.62 $8.15 $11.93 $13.85 $10.81 $7.87
Total Industrial Market Inventory (sq.ft.) 639,978,117 85,994,780 495,978,861 290,392,281 1,147,019,657 764,169,350 506,767,429 232,119,045 344,978,045 290,103,470 275,357,407
Total Industrial Market Vacancy Rate 12.90% 11.80% 11.00% 12.60% 11.50% 10.10% 5.50% 7.90% 5.30% 13.50% 10.80%
Source: CoStar National Market Reports: Year-end, 2011.*New York City Industrial Market is Long Island, New York.
Cost of Business Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Overall Business Cost Index (Average = 100) 96.3 No Data 100.8 No Data 98.8 97.7 97.9 97 102 98.1 96
Total Tax Index 91.1 No Data 87.9 No Data 92.8 98 98.1 96.1 101.9 92.1 91.6
Source: Competitive Alternatives: KPMG's Guide to International Business Location, 2010.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
State Electricity Costs
Residential (avg. price per kilowat-hour) 10.07¢ 10.60¢ 14.59¢ 10.12 ¢ 11.52¢ 11.60¢ 10.60¢ 11.44¢ 18.74¢ 10.97¢ 11.4¢
Commercial (avg. price per kilowatt-hour) 9.06¢ 9.19¢ 14.53¢ 8.16¢ 8.88¢ 9.19¢ 9.19¢ 9.76¢ 16.31¢ 9.47¢ 9.76¢
Industrial (avg. price per kilowatt-hour) 6.22¢ 6.44¢ 13.71¢ 6.17¢ 6.82¢ 6.44¢ 6.44¢ 8.85¢ 8.78¢ 6.63¢ 8.85¢
Sources: Energy Information Administration, 2010 Annual Averages.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
State Taxes
State Sales/Use Tax (July 1, 2011) 4.00% 6.25% 6.25% 4.75% 6.25% 6.25% 6.25% 6.00% 4.00% 6.60% 6.00%
State Corporate Income Tax (2011) 6.00% None 8.25% 6.90% 7.76% None None 5.50% 7.10% 6.97% 5.50%
State Individual Income Tax (Feb. 1, 2011) 1%-6% (6 brackets) None 5.30% 6%-7.75% (3 brackets) 5.00% None None None 4%-8.97% (7 brackets) 2.59%-4.54% (5 brackets) None
State Gasoline Tax (per gallon) (Jan. 1, 2011) 20.80% 20.00% 23.50% 32.80% 42.80% 20.00% 20.00% 34.40% 47.30% 19.00% 34.40%
Sources: The Tax Foundation.
Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
State Unemployment Insurance
Taxable Wage Base $8,500 $9,000 $1,400 $19,700 $12,740 $9,000 $9,000 $7,000 $8,500 $7,000 $7,000
New Employers' Tax Rate (based on taxable wages) 2.70% 2.70% 2.83% 1.20% 3.35% 2.70% 2.70% 2.70% 3.40% 2.00% 2.70%
Source: Significant Provisions of State Unemployment Insurance Tax Laws, U.S. Department of Labor, Jan., 2011
Cost of Living Atlanta,
GA
Austin,
TX
Boston,
MA
Charlotte,
NC
Chicago,
IL
Dallas,
TX
Houston,
TX
Miami,
FL
New York,
NY
Phoneix,
AZ
Tampa,
FL
Cost of Living Index (U.S. average = 100) 97.3 92.7 137.3 93.3 114.7 96.2 89.8 107.1 185.1 96.5 91.8
City Average Housing Costs
Average New Home Price (2400 sq.ft. 4BR 2BA) $224,734 $222,483 $437,400 $228,128 $367,442 $207,192 $224,736 $290,911 $948,003 $241,396 $212,171
Average Monthly Apartment Rent (950 sq.ft. 2BR 2BA) $882 $878 $1,591 $767 $1,369 $738 $892 $1,298 $2,504 $889 $790
City Average Healthcare Costs
Doctor ($/visit) $89.59 $80.31 $149.00 $88.23 $87.76 $100.25 $92.50 $188.00 $121.63 $91.10 $78.56
Dentist ($/visit) $93.46 $94.25 $109.11 $97.48 $99.31 $85.21 $79.30 $89.24 $108.45 $89.66 $76.67
Optometrist $71.27 $91.08 $99.00 $113.34 $99.13 $89.17 $88.50 $82.47 $92.46 $97.16 $80.19
Source: ACCRA Cost of Living Index, annual averages 2011.