Nebraska 2010 Census Information
City Growth Comparison - Omaha World Herald
Data from Nebraska Renaissance Project, Inc.
University of Nebraska Lincoln Bureau of Business Research
Prepared for the Norfolk Area Recruiters by Eric Thompson, PhD and Thomas R. Jordison
February 24, 2011
Population Recruitment: An Economic Impact Study
The effort of the Norfolk Area Recruiters is centered on the recruitment of families who have lived in the Norfolk area to return to said area after having left the state. This direct population recruitment is achieved through contacting the alumni of area high schools and working to find employment, housing and other amenities in order to easily facilitate the transition back to the Norfolk area.
In a time of population decrease, groups such as the NAR are very crucial to the continuing prosperity of Nebraska. This can be most clearly seen by an economic impact study, detailing the fiscal impact of the families that have been brought back to the Norfolk area. Inasmuch, what follows is an analysis of that fiscal impact, with 2006 statistics used as base-year information.
According to the Bureau of Economic Analysis, U.S. Department of Commerce, in 2006, the total personal income of Madison County was $1,067,000,000 and the total population of Madison County at that time was 35, 269, this figure coming from the Bureau of Census, U.S. Department of Commerce. Thus, the per capita income of Madison County in 2006 was $30,253.
According to the American Community Survey, Bureau of Census, U.S. Department of Commerce, in 2006 the average household size in Madison County was two parents with 2.42 children. As such, the average household income in 2006 was $73,213. This being the case, with the 60 families recruited by the NAR, Madison County saw an income impact of $4,393,000. This is 0.41% of personal income in Madison County in 2006 (calculated).
However, 60 households imply 145 people gained. Further, the Census Bureau currently estimates that Madison County lost 156 people per year between 2000 and 2009, and 145 people is large compared to that figure.
Or put in terms of income, Madison County loses $5,506,000 in income each year due to population loss. If NAR recruited/retained 60 households in 5-years, then annual income losses to Madison County due to population loss would have been $6,300,000 without the NAR.
Therefore, each year NAR has reversed 13.8% of income losses for Madison County resulting from population loss.