Sheraton Hotel Redding At Sundial Bridge - Redding Record ...

Workforce
Characteristics
The U.S. population has grown at an average annual compounded rate of 0.9%
from 2000 through 2010. The county’s population has grown at a quicker pace
than the nation’s population; the average annual growth rate of 1.2% between
2000 and 2010 reflects a gradually expanding area. Following this population
trend, per-capita personal income increased slowly, at 1.0% on average annually
for the county between 2000 and 2010. Local wealth indexes declined in recent
years, registering an 81.3 level for the county in 2010, down from an 82.3 level in
2000. Retail sales totaled $2,378.6 million in the county in 2010, versus $2,052.0
million in 2000. This represents an average annual change of 1.5%. A stronger
2.4% average annual change is expected in county retail sales through 2015.
The characteristics of an area's workforce provide an indication of the type and
amount of transient visitation likely to be generated by local businesses. Sectors
such as finance, insurance, and real estate (FIRE); wholesale trade; and services
produce a considerable number of visitors who are not particularly rate sensitive.
The government sector often generates transient room nights, but per-diem
reimbursement allowances often limit the accommodations selection to budget
and mid-priced lodging facilities. Contributions from manufacturing, construction,
transportation, communications, and public utilities (TCPU) employers can also be
important, depending on the company type.
The following table sets forth the county workforce distribution by business sector
in 1990, 2000, and 2010, as well as a forecast for 2015.
February-2011 Market Area Analysis
Sheraton Hotel Redding At Sundial Bridge – Redding, California 36