Economic Sustainability Indicator
Project
The Metropolitan Center
Florida International University
February 24, 2015
Project Background
• Research has shown that traditional community and
economic indicators alone do not provide an adequate
measure of an economy's sustainability
• Sustainability indicators can provide a more integrated
view of a community analyzing the interconnectedness
of the economy with the natural and built environment
and human activity
Project Purpose
• To identify the factors and issues most critical to creating and
maintaining a sustainable local economy and establishing the
important linkages that can effectively gauge a community’s
progress in attaining desired outcomes
• The Project will provide users a dynamic, mutually-supporting
conceptual framework for monitoring and benchmarking a
community’s economic progress and sustainability
The Four Elements
• Quality of Life
• Economic Prosperity
• Economic Stability
• Good Governance
Quality of Life Indicators
• Quality of Public Education
• Cost of Living
• Housing Affordability
• Transportation Access
• Available Healthcare
• Public Safety
Economic Prosperity Indicators
• Total Employment
• Salaries & Wages
• Per Capita Income
• Household Income
• Income Equality
• Small Business Creation
Economic Stability Indicators
• Industry Diversity
• Growth in the Prime Age Workforce (In-
Migration)
• Expanding Creative Economy Industries
• Expanding Creative Economy Employment
Creative Economy
The interface between creativity,
culture, economics and technology
(UNCTAD). It cuts across the areas of
creative and cultural industries, creative
cities and creative culture.
Good Governance Indicators
• Fiscal Stability
• Investment in Sustainability Infrastructure
• Green Building
• Support for the Arts
• Land Use Regulation
• Public/Private Partnerships
Benchmarking Economies
• MSA-MDs:
–Atlanta
–Austin
–Charlotte
–Miami
–Orlando
–Tampa
Source: Arts Index 2015
Creative Workers/Industries 2009-2014
9.5%
5.4%
29.4%
46.8%
6.9% 12.5%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
Sh
are
of
all E
mp
loye
es
2009
2014
Percent Change
2009-2014
3.8% 2.0%
1.6% 0.9%
2.4%
1.5%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
Sh
are
of
all B
usin
esse
s
2009
2014
Percent Change
2009-2014
Segmenting the Creative Economy: The Cultural Industries
Industry Design Film & Media
Heritage & Museums
Literary & Publishing
Performing Arts
Visual Arts
% Change 2010-2012
% Change 2010-2012
% Change 2010-2012
% Change 2010-2012
% Change 2010-2012
% Change 2010-2012
Total % Total Employees
MSA-MD
Atlanta 4.7% 57.8% 73% 21.3% 41% 38% 20,998 3.0%
Austin 2.1% 39.7% 1.7% 16.7% 19.1% 1.6% 16,871 3.4%
Charlotte 16.1% 15.7% 40% 9.6% 6.1% 76% 10,434 1.9%
Miami 1.7% 7.7% 20.3% 32.7% 1.4% 8.3% 21,568 2.5%
Orlando 20.2% 50.1% 22.5% 42.5% 68.5% 70.5% 15,991 2.6%
Tampa 17.3% 6.7% 74.7% 31.5% 375% 208% 8,692 1.7%
Single-Family Home Affordability Ratio
MSA-MD Single-Family
Affordability Ratio
Atlanta 4.18
Austin 3.77
Charlotte 3.28
Miami-Dade 4.66
Orlando 3.52
Tampa 3.22
Source: 2009-2013 American Community
Survey 5-Year Estimates
MSA-MD Comparison
AtlantaAustin
CharlotteMiami-Dade
OrlandoTampa
51.4% 51.6%
49.0%
65.6%
61.0%
56.0%
49.0% 48.4%
45.0%
64.8%
58.3%
54.8%
Renter Cost Burden
2013 2009
Source:
American
Community
Survey 2009,
3 year and 2013,
5-Year Estimates
32%
68%
Atlanta % of Population <45% income
% of Population 45+% income
Average
53%
36%
64%
Austin % of Population <45% income
% of Population 45+% income
Average
51%
23%
77%
Charlotte % of Population <45% income
% of Population 45+% income
Average
52%
15%
85%
Miami % of Population <45% income
% of Population 45+% income
Average
58%
7%
93%
Orlando % of Population <45% income
% of Population 45+% income
Average
57%
12%
88%
Tampa % of Population <45% income
% of Population 45+% income
Average
58%
H + T Index: Housing + Transportation Cost % Income
Source: H+T Affordability Index
What’s Next?