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 Aug. 24, 2016
Milwaukee native Sarah Hoye has spent more than a decade as a reporter and storyteller for Al Jazeera America, CNN and The Milwaukee Journal Sentinel. Her latest CNN piece is a must read and a great conversation starter around town.
Published Aug. 20, 2016
Corner Bakery will replace the Baker's Square at 1305 E. Capitol Dr. in the Village of Shorewood.
Published Aug. 11, 2016
OnMilwaukee is once again honored to support Potawatomi Hotel and Casino's Heart of Canal Street program. As a long-time partner and passionate community advocate we're also thrilled to announced that this year we'll help support our long-time partner, the Milwaukee Public Museum (MPM).
Published Aug. 9, 2016
You'll be skeptical, I'm sure. But I think you'll love the new Nexflix documentary "Tony Robbins: I'm Not Your Guru." It's an amazing look at motivational speaker and his team as they hold one of his marquee events in Boca Raton, Fla.
Published Aug. 8, 2016
Milwaukee's iconic Marcus family will be featured in the new season of "Project Runway," as Linda Marcus has landed a spot as a contestant on the Heidi Klum-hosted show. The next season begins Sept. 15 on Lifetime.
Published July 24, 2016
Agents and their families flock to Milwaukee every year this week, and each year I love the buzz that's created by adding 11,000 visitors to Downtown Milwaukee. As a community, we need to champion the corporations that choose Milwaukee as their home, so thanks NM!
Published July 15, 2016
Curious minds want to know who is behind a regular bakery bonanza in Downtown Milwaukee. Several residents in the neighborhood tell me that streets and bridges are consistently laced with multiple bakery items several times per week.
Published July 12, 2016
There's something missing this week: the energy, buzz and excitement that only Summerfest brings. As the state's economic and entertainment center, Milwaukee gets most of the love, but with healthy arteries and suburbs, everyone wins when Summerfest shines.
Published July 2, 2016
Sure, he played the exact same encore as he did the last time he was in Milwaukee. But on this near perfect Summerfest night, Blake Shelton was different - different in that he's now a much bigger star, which he used to his advantage Friday night.
Published June 23, 2016
Check out the latest podcast from Bill Simmons featuring Jimmy Butler - and, germane to us here, including several Marquette and Milwaukee mentions. In fact, Butler says several times "I love Milwaukee," citing his days and degree at Marquette.