Attendees at yesterdays CoRE Tour received a three ringer binder loaded up with everything you need to know about HoCo commercial real estate. Published every eighteen months, it is often simply referred to as “the book” as in “I didn’t go on the bus tour but I did grab the book.”
It’s a pretty good book.
In the back of the book, there is a wealth of data that provides a snapshot the HoCo economy. For instance, there is 69,996,024 million square feet of commercial space in the county. The overall vacancy rate for that space is 11.6% with the highest vacancy being in industrial space (14.9%) and the lowest being in retail space (4.4%).
More people commute out of HoCo everyday (98,359) than commute in (86,276). 57,304 people are fortunate enough to live and work in the county.
In 1990 there were 80,866 jobs in HoCo paying an average weekly wage of $497.00. Last year there were 143,580 jobs paying an average weekly wage of $1,049.00. 125,744 of those jobs were in the private sector while 17,836 were in the government sector.
While HoCo enjoys one of the lowest unemployment rates in the country (5.2%) we were not immune to recent economic recession. In 2009 HoCo lost 4,738 jobs, the first net job loss in ten years.