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 July 29, 2015
Today, my alma mater - Marquette - helped fuel my fan fire by releasing a new app that is available for free download, thanks to a partnership with Bluechip Athletic Solutions, Inc.
Published July 29, 2015
Children's Hospital of Wisconsin is more than a hospital. It's at the center of an ongoing discussion about health, wellness and access to care for all kids in the state. Today, Peggy Troy talks about the mission, vision, challenges and opportunities at Children's.
Published July 27, 2015
Today I'm writing to ask the members of the state legislature to please vote yes tomorrow for the new Wisconsin arena and entertainment district in Downtown Milwaukee. It's important and vital to our state's long term viability. You should call or email your state representative, too.
Published July 25, 2015
Live @ Peck Pavilion on the Marcus Center for the Performing Arts grounds begins this weekend and runs through August 22.
Published July 24, 2015
That's right, Downtown Milwaukee may not have a ton of ice cream options but you can order ice cream on demand with #UberIceCream.
Published July 22, 2015
I need a new pair of glasses. I have two pair with my current prescription and one (an awesome SwissFlex frame) with outdated lenses. Yet, I seldom wear either pair other than late at night. This isn't probably the best course for my long term eye health, so I'm on the hunt for a new, cool frame.
Published July 16, 2015
Last weekend Visit Milwaukee hosted Jun Song, one of the most prominent travel bloggers in China, along with a rep from Brand USA, a destination marketing organization. The results are still coming, but he seems to have loved Milwaukee.
Published July 13, 2015
The Milwaukee Admirals will usher in a new chapter in team history and unveil a new logo and jerseys on Wednesday, July 15 at 6 p.m. at the BMO Harris Bradley Center.
Published July 10, 2015
On the evening of the NBA Draft, Wisconsin's Frank Kaminsky rocked a JCPenney suit that featured tanks sewed on the inside. Frank the Tank, get it? Now, he's starring in new commercials for the store.
Published July 7, 2015
Today, I talk with All Peoples Church, 2600 N 2nd St., about its green efforts. Linda Muth, the church's minister of partnerships, discusses the churches strategy.