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 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 28, 2016
The fest that made Milwaukee famous, Summerfest is here. Jeff Sherman loves it. It means energy, 50-90,000 new people Downtown every day, good music, food and more. It's great, and it gets better every year. Here are his music picks.
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.
Published June 21, 2016
Former Milwaukee Bucks guard Ray Allen and his wife have opened one of the country's first all-organic "fast food" restaurants in Miami. Called Grown, it's getting rave reviews on Facebook, and, from the photos I've seen, I want to eat there right now.
Published June 11, 2016
We're a few months in, so here are six things I'd change about the Milwaukee area's newest Metro Market store, on Oakland Avenue in Shorewood. The better you are, Metro Market, the more of our money you'll get!
Published June 7, 2016
There's growth everywhere in Downtown Milwaukee, but still opportunities and eyesores. For me, these four spaces have been vacant for too long. I see them all nearly everyday. Let's all chime in and help the owners or leasing agents find the right new tenant.
Published May 25, 2016
The "Best Bars in America" feature has been around since 2006. And - of course - a lot has changed on the drinking scene here and in every city in America. One change, no Milwaukee bars appear on this year's list.