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. Â As Nate BergÂ 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. Â
So, here they are, just the facts. Â 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 toÂ 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 quartersÂ 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. 22, 2016
It's that festive time of the year. Christmas and holiday parties seemingly every night. I love it. But, it's tough not to eat and drink more than usual. This list helps you get a better focus on which drinks contain the highest alcohol-to-calorie ratio.
Published Nov. 17, 2016
Cole Swindell brings his "Down Home" tour to Milwaukee on Dec. 3. The tour is part of the FM 106.1 Country Christmas Triple Play at The Rave and features Jon Langston. To prepare for his visit, Swindell used OnMilwaukee to find five restaurants he wants to hit while here.
Published Nov. 17, 2016
The magic of Christmas and the holiday season begins tonight, Thursday, Nov. 17, in Downtown Milwaukee. The City's Christmas tree is lit and more than 500,000 lights will illuminate the city at the Milwaukee Holiday Lights Kick-Off Extravaganza.
Published Nov. 14, 2016
From the good news department comes this video posted by the Milwaukee County Transit System on Facebook this past weekend.
Published Nov. 7, 2016
It's sprouted quickly in the Village of Shorewood, growing from an old Verizon store's ashes into a well-designed, soon-to-be new restaurant that embraces the charm, scale and walkability of the neighborhood. Here's a photo gallery of The Ruckus, coming soon to Oakland Avenue.
Published Nov. 5, 2016
The Sacramento Kings were in Milwaukee Friday night before their Saturday night game against the Bucks at the BMO Harris Bradley Center. And they had some viral fun in Downtown Milwaukee.
Published Nov. 5, 2016
Country music star Keith Urban's 23-song set Friday night at the BMO Harris Bradley Center in Downtown Milwaukee was crisp, collected and just flat-out killer. Here are Jeff Sherman's five key takeaways from the show.
Published Nov. 3, 2016
Twitter's is Jeff Sherman's go-to news source. And like all content sources, it has its pitfalls and problems. Not enough quality, too much yelling - you've heard them all. So how do we make Twitter better? Here are several ideas.
Published Nov. 1, 2016
The Ghost Train, a new public art project - or, to use the creator's language, an "artistic sensory experience" - made its debut last night at the Oak Leaf Trail Bridge and Capitol Drive in the Village of Shorewood.
Published Oct. 27, 2016
The Milwaukee Jewish Federation holds its Economic Forum 2016 today, Oct. 27 at the Pfister Hotel. This year's event features Vivek Wadhwa as the keynote speaker, a futurist who is recognized as Silicon Valley's most provocative voice for his ideas on technology trends, globalization and U.S. competitiveness.