It's less than two square miles, but Downtown Milwaukee has more than 10 percent of the city's tax base. It is the economic and entertainment heart of the city, not to mention the entire state. It's also a growing residential neighborhood with more people living in greater Downtown than Shorewood and Whitefish Bay combined.
According to The Atlantic, Milwaukee's not alone in this Downtown growth. As Nate Berg recently reported, "In all U.S. metro areas, 16.1 million people were living within two miles of City Hall by 2010, about six percent of the total metro area population of 258 million."
How does Downtown truly add up? What are its new numbers? Milwaukee Downtown, the Business Improvement District that covers Downtown proper, has released new key economic indicators.
So, here they are, just the facts. Here are Downtown's new numbers.
- More than $1.7 billion in development investment has taken place since 2005
- More than $400 million in additional projects are currently under construction
- Since 2000, population has increased by 25.5 percent
- More than 81,000 workers are employed within Downtown
- 31.5 percent of these workers have college or advanced degrees
- 60.4 percent of the study area employees live less than 10 miles from work
- Convention attendance grew by 80.2 percent between 2007 and 2011
- 3,123 criminal offenses were reported in 2011, down 21.8 percent from 2009
- 21 percent of Downtown workers are under the age of 29.
- More than half (51.5%) of Downtown Milwaukee's workers are female, and the majority of employees fall within the age 30 to 54 cohort (60.6%).
- Downtown's retail vacancy went from 16.9% to 16.0%, and lease rates declined from $19.71 to $18.79 between first quarters 2011 and 2012.
- Restaurant and bars (37.4%) and personal services (22.5%) are the top two retail categories in Downtown Milwaukee.
Those are numbers. They don't lie.
What are your thoughts about Downtown? What does it need to continue its renaissance? Chime in via the talkbacks or Facebook.
I absolutely love Milwaukee. It is easy to say "develop the Park East" or "tear down the Transit Center." Good ideas both, and I am sure the future holds great things for developments in those areas. But to me, the 2 most pressing issues are improving MPS and improving our public transportation system. If we don't, then all the fancy riverwalks and glass buildings in the world won't stand a chance against the pervasive and debilitating poverty that exists in and around our great city.
1 comment about this article.
Post your comment/review now
Disclaimer: Please note that Facebook comments are posted through Facebook and cannot be approved, edited or declined by OnMilwaukee.com. The opinions expressed in Facebook comments do not necessarily reflect those of OnMilwaukee.com or its staff.
Recent Articles & Blogs by Jeff Sherman
Published Nov. 25, 2014
WSJ.com published an indepth piece on shopping today. Specifically, the story centers around shoppers in the greater Milwaukee area.
Published Nov. 22, 2014
Since we're nearing the end of Movember I asked an expert at Froedtert & the Medical College of Wisconsin a few questions about prostate cancer.
Published Nov. 21, 2014
The creative team at Plaid Tuba starts an innovative local art auction today on OnMilwaukee.com's ShopLocal marketplace.
Published Nov. 17, 2014
Today through Dec. 8, participating Cousins Subs locations host a food drive to benefit the Hunger Task Force.
Published Nov. 15, 2014
Mackenzie Kruvant's new "21 Juicy Burgers That Will Ruin You For All Other Burger" includes a Milwaukee mention and one from Kenosha.
Published Nov. 12, 2014
The topic of sports nicknames of the "lesser known" Milwaukee colleges and universities came up recently during my Bucks ticket draft. No one could name Carroll College's mascot. It's Carroll University now, by the way. Cardinal Stritch University? I got my MBA there and didn't even know it had sports, much less a mascot.
Published Nov. 10, 2014
We have another meet and greet opportunity for you. Just click here to bid on a chance to win two great seats for Hayes' show at the BMO Harris Bradley Center and a meet and greet with the rising country star.
Published Nov. 7, 2014
In their respective sports, both Aaron Rodgers and LeBron James are amazing leaders, highly skilled players and true students of the game. So, I had to share LeBron's tweet from yesterday that addressed his team's somewhat lackluster start.
Published Nov. 5, 2014
The U.S. Capitol Christmas Tree comes to Milwaukee on Tuesday, Nov. 11 on its tour to Washington, D.C. It will help kick off the Downtown Holiday Lights Festival that officially begins Nov. 20.
Published Nov. 3, 2014
Today, in anticipation of this weekend's Trainfest and, of course, the big toy buying holiday season, Walthers is debuting Thunderrail, a new digital comic book based on the company's 1940s mascot, Willie.