LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER LABOR STUDY FLORIDA CROSSROADS LOGISTICS CENTER NW 35TH STREET, OCALA, FLORIDA Florida Crossroads JULY, 2019
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LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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LABOR STUDYFLORIDA CROSSROADS LOGISTICS CENTERNW 35TH STREET, OCALA, FLORIDA
i
Florida Crossroads
JULY, 2019
LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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WAGE & QUALITY OF LIFE COMPARISON
Occupation Designation U.S. FloridaLakeland /
Winter Haven
Orlando / Kissimmee /
Sanford
Tampa / St. Pete /
ClearwaterOcala
1st Line Supervisors Transportation & Materials $26.73 $25.00 $24.76 $24.66 $24.24 $23.78
Light Truck & Delivery workers $15.78 $15.06 $20.65 $14.99 $14.52 $15.45
Industrial Truck & Tractor Operators $16.71 $16.70 $16.82 $16.25 $17.60 $14.27
Laborers - Freight, Stock & Material movers $13.59 $12.04 $14.14 $13.00 $12.55 $12.24
Packers & Packagers, hand $11.82 $10.30 $10.17 $10.46 $9.87 $9.66
Highest Wage Rate
Lowest Wage Rate
Source: US Dept. of Labor, May 2018
Median Wage Per Hour Comparison
LocationMedian House Sales Price (1)
Housing Costs Total (2)
Food & Groceries (2)
Transportation (2) Health Care (2)
Marion County $146,100 Ocala 70.8% 96.7% 93.1% 92.7%Polk County $180,900 Lakeland 91.9% 81.3% 96.6% 94.2%Orange County $265,300 Orlando 122.2% 96.7% 128.9% 97.9%Hillsborough County $271,600 Tampa 112.8% 102.7% 130.8% 96.3%
Highest
Lowest
(1) Source: Zillow.com
(2) Source: Bestplaces.com / Compared to national average percentile
Quality of Life Comparison
The median wage per hour earned in industrial occupations is lower in the Ocala market as compared to nearby Florida markets, as well as for the state of Florida and U.S. as a whole.
Ocala also boasts lower statistics in quality of life categories such as median house sales price, housing costs in total, transportation and health care costs. These costs, as well as the cost of food and groceries, are below the national average.
LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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LABOR MARKET STATISTICS & DRIVE TIME ANALYSIS
Fact
• More than 750,000 population within 45 minutes from site; more than 1.1 million population within 60 minutes from site
• Five year population growth projections within 30-45-60 minutes -drive time is significantly higher than the U.S. average
• Median household income within 30-45-60 minutes drive time is lower than the state of Florida and the U.S. as a whole
• Unemployment rate within 30-45-60 minutes drive time is higher than the state of Florida and U.S. as a whole
• In blue collar industrial occupations, nearly 50,000 workers live within 45 minutes and nearly 80,000 live within 60 minutes
Significance
• Site is in a high population area
• Significant population growth expected in the area
• Lower income levels, however, lower cost of living
• Need for more jobs in the area
• Workforce is available
30 Minutes Drive Time
45 Minutes Drive Time
60 Minutes Drive Time
Population
2019 Total Population 300,212 752,256 1,144,468
2024 Total Population 319,215 811,228 1,232,564
5-Year % Growth Projection 6.3% 7.8% 7.7% Index vs. Total U.S. 161 199 196
Household Income
2019 Median HH Income $44,808 $45,278 $46,355 Index vs. Total U.S. 74 75 77
Labor Force
2019 Employed Civilian Population Age 16+ 111,821 268,547 417,749
2019 Unemployed Population Age 16+ 6,611 14,319 21,733
2019 Unemployment Rate 5.6% 5.1% 4.9% Index vs. Total U.S. 122 111 107
2019 Total Civilian Labor Force 118,432 282,866 439,482 % of Total Population 39% 38% 38%
Blue Collar/Industrial Labor Force 23,158 46,408 77,149 % of Civilian Employed Labor Force 21% 17% 18%
Property Site: 3400 NW 35th StreetOcala, Florida, 34475
Source: U.S. Census; 2019 Esri Estimates Note: 100 = Base Comparison: Total U.S. (i.e. index of 161 is 61% higher than the Total U.S.)
LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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30 MINUTE DRIVE TIME MAP
Blue Collar 4 Industries(%) by Census Tracts
■ 28.57% to 42.37%
21.4% to 28.56%
13.62% to 21.39%
0% to 13.61%
Florida Crossroads Logistics Center30 minute drive time map
Blue Collar 4 Industries(%) by Census Tracts
■ 28.57% to 42.37%
21.4% to 28.56%
13.62% to 21.39%
0% to 13.61%
Florida Crossroads Logistics Center30 minute drive time map
LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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Florida Crossroads Logistics Center45 minute drive time
45 MINUTE DRIVE TIME MAP
Florida Crossroads Logistics Center45 minute drive time
LABOR STUDY | FLORIDA CROSSROADS LOGISTICS CENTER
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Florida Crossroads Logistics Center60 minute drive time
60 MINUTE DRIVE TIME MAP
Florida Crossroads Logistics Center60 minute drive time
Colliers International 255 South Orange Avenue, Suite 1300Orlando, FL 32801
For more information, please contact:
Deborah Mickler, SIOR +1 407 362 6161 deborah.mickler@colliers. com
David Wilson+1 407 362 [email protected]
Bill Smith+1 803 354 [email protected]
John Barker, Jr., SIOR+1 704 481 [email protected]
Leah Bailey, SIOR+1 704 619 [email protected]
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